Smartworks Faces Valuation Inflation Amid Ongoing IPO

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SUMMARY

The NGO Infrastructure Watchdog has urged SAT to direct SEBI to initiate investigation in the affairs of the Smartworks, restrain it from proceeding with the IPO

The allegations include inadequate disclosure of inspection and investigation by the RoC, allegations of receiving funds from shell companies and some amounts through benami transactions, among others

It filed the appeal at SAT on July 8 and said that Smartworks is under an investigation by the Income Tax…



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Smartworks Faces Valuation Inflation Amid Ongoing IPO


SUMMARY

The NGO Infrastructure Watchdog has urged SAT to direct SEBI to initiate investigation in the affairs of the Smartworks, restrain it from proceeding with the IPO

The allegations include inadequate disclosure of inspection and investigation by the RoC, allegations of receiving funds from shell companies and some amounts through benami transactions, among others

It filed the appeal at SAT on July 8 and said that Smartworks is under an investigation by the Income Tax…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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