Rentomojo’s cofounder and former COO Ajay Nain filed a petition before the NCLT’s Bengaluru bench days before the company filed its draft red herring prospectus.
The cofounder, who left the company four years after its inception in 2018, is alleging oppression and mismanagement, seeking to halt the company’s proposed initial public offering (IPO). Filed on March 25, the petition names the company, its promoter, directors, chief financial officer, RM Employee Benefit Trust and its trustee Beacon Trusteeship Limited, among others, as…

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