SUNIL GOEL Vs. INDIABULLS HOUSING FINANCE LIMITED

JUDGEMENT

(1.) Shares, of M/s Omaxe Ltd., held by the petitioner Sunil Goel, were pledged with the respondent M/s Indiabulls Housing Finance Ltd. (hereinafter referred to as "IHFL"), against a loan, advanced by IHFL to M/s. Omaxe Forest Spa and Hills Developers Ltd. (hereinafter referred to as "Omaxe Forest Spa").

(2.) The Chairman and Managing Director (CMD) of Omaxe Ltd., Rohtas Goel, is the brother of the petitioner. The petitioner, too, was a Director in Omaxe Ltd. till 4th August, 2018, on which date he resigned from Directorship. The shareholding pattern, in Omaxe Ltd., has been provided, in the petition, thus:

(3.) M/S. Guild Builders Pvt. Ltd. (hereinafter referred to as "Guild Builders") was incorporated, on 22nd October, 2003, by the petitioner, Rohtas Goel and their brother Jai Bhagwan Goel. The three brothers continued as Directors of Guild Builders till 15th September, 2013, when they resigned from Directorship. The present shareholding pattern in Guild Builders has been set out, in a tabular form, in the petition, thus: