Complaint against M/s. Prince Pipes & Fittings Ltd, Mr. Javant Shamji Chheda and Mrs. Heena Parag Chheda for Intentional Non-Disclosure of Outstanding Litigation against the Promoters/Directors of Prince Pipes & Fittings Ltd in the Draft Red Herring Prospectus dated 26/09/2017 under the curse of non-requirement of the same despite of there being direct provisions for disclosing the same under the Draft Notification Dated: 15/02/2018 issued by the Ministry of Corporate Affairs and the various provisions of the Companies Act 2013 and further making untrue disclosures about there being no pending litigation against the Promoters of Prince Pipes & Fittings Ltd with the sole intention of portravine that Prince Pipes & Fittings Ltd is free of litigations so as to lure investors, shareholders and the public at large to invest their hard earned money in Prince Pipes & Fittings Ltd.
Being aware of the fact that if at all information relating to pending litigation are disclosed it would deter substantial sums of money from getting into the Initial Public Offering of Prince Pipes & Fittings Ltd from the investors, shareholders and public at large as the value of the claim under the said litigations is much more than the value of the IPO of M/s. Prince Pipes & Fittings Ltd, so if they disclose information relating to pending litigation they are very well aware of the fact that the public would be reluctant to buy or invest in their shares so they have found an ingenious way of fooling the public at large by not disclosing our claim as well as the claim of other parties against the promoters of M/s. Prince Pipes & Fittings Ltd.
We just signed the petition “Beware investors! Complaint against M/s. Prince Pipes & Fittings Ltd, & it’s promoters” and wanted to see if you could help by adding your name.
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