Omaxe bounces assets among its subsidiaries to round-trip funds, SAT calls it 'unnatural'

Securities Appellate Tribunal (SAT) rejected builder Omaxe's plea against SEBI's order banning its top leadership from the securities market for "round-tripping" funds. SAT noted that Omaxe bounced assets among its wholly-owned subsidiaries Garv and Pancham, and Jeet Builders, to prop up Omaxe's financials, calling it "unnatural". Altogether, Jeet Builders transferred ₹647.73 crore to Omaxe.