A writ petition challenging the disclosures made in WeWork India's initial public offering (IPO) documents was unconditionally withdrawn before the Bombay High Court on wednesday.
The Court also imposed a cost of Rs 1 lakh on petitioner Vinay Bansal after finding that he had hidden key documents, including replies from the company and its lead managers that addressed all his concerns.
The Bombay High Court dismissed two petitions seeking to block WeWork India's IPO, imposed a Rs 1 lakh cost on one petitioner, and upheld SEBI's regulatory decisions. The Court noted that disclosures were made as required and that investors had shown strong interest in the oversubscribed