New Delhi, Aug. 18 -- The Supreme Court today heard an appeal filed by NGO Infrastructure Watchdog challenging the Securities Appellate Tribunal's (SAT) refusal to stall the Initial Public Offering (IPO) of Smartworks Coworking Spaces Limited.
Appearing for the NGO, Senior Advocate Narender Hooda produced what he claimed was a letter from the Ministry of Corporate Affairs (MCA) to SEBI flagging ongoing investigations against the Sarda family, promoters of Smartworks.
Senior Advocate Gopal Subramanium, representing Smartworks, strongly disputed the authenticity of the document. He told the Bench that an RTI response from the MCA confirmed that no such communication had been sent to SEBI. He accused the NGO of misleading the Court with "fab...