New Delhi, Dec. 1 -- Office spaces company WeWork India has got a relief from the Bombay High Court on 1 December after the court upheld the Securities and Exchange Board of India's approval for its hyped Rs.3,000-crore initial public offering (IPO), according to a Bar & Bench report.

A division bench of Justices RI Chagla and Farhan Parvez Dubash today dismissed petitioner Vinay Bansal's plea challenging WeWork India's IPO, based on investor allegations that SEBI "overlooked disclosure lapses, including non-disclosure of pending criminal proceedings under the Prevention of Money Laundering Act (PMLA)", the report added.

The court also imposed cost of Rs.1 lakh on the petitioner, payable to the Maharashtra Legal Services Authority, it a...