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Rishabh Agarwal named the Securities and Exchange Board of India (SEBI) and several top Book Running Managers (BRLM) as respondents.
The investor alleged in the HC that WeWork India and its related entities made selective and incomplete disclosures in connection with the company’s initial public offering (IPO). (Photo from file)
An investor knocked on the door The Bombay High Court, alleging that WeWork India and its related entities made selective and incomplete disclosures in connection with the company’s initial public offering (IPO).
In his petition, Rishabh Agarwal named the Securities and Exchange Board of India (SEBI) and several top Book Running Managers (BRLM) as respondents, alleging that they failed to ensure compliance with SEBI’s Capital Issuance and Disclosure Requirements (ICDR) 2018.
The filing referred to earlier complaints filed by Sterling and Wilson Renewable Energy Ltd with SEBI regarding WeWork’s alleged non-disclosure. Agarwal alleges that although WeWork published these complaints on its website, attachments and supporting documents were omitted, thereby withholding important information from investors.
WeWork India strongly denied the allegations, maintaining that all disclosures were complete and made in accordance with applicable laws and regulations.
In its reply dated November 3, 2025, the company said that while the Enforcement Directorate (ED) has filed a complaint against the charge sheet, there is no charge sheet and some related cases remain pending in various courts, including the Bombay High Court.
It also pointed out that the criteria of “fit and proper person” under the SEBI Intermediary Regulations relied upon by the petitioner are themselves subject to judicial review.
Ananya Bhatnagar, CNN-News18 correspondent, covers various legal issues and cases in lower courts and the Delhi High Court. He covered the hanging of Nirbhaya gang-rape convicts, JNU violence, de…More details
Ananya Bhatnagar, CNN-News18 correspondent, covers various legal issues and cases in lower courts and the Delhi High Court. He covered the hanging of Nirbhaya gang-rape convicts, JNU violence, de… More details
08 Nov 2025 20:45 IST
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