WeWork's initial public offering (IPO) is facing scrutiny just days before opening for subscriptions after an investor filed a petition before the Bombay High Court against the Securities Exchange Board of India (SEBI), alleging company wrongdoing and the market regulator's failure to act on his complaints.

The petitioner, Vinay Bansal, a 32-year-old resident of Jaipur, claimed that the Draft Red Herring Prospectus (DRHP) contains material non-disclosures and misleading statements, including the concealment of a criminal chargesheet filed against the promoters for serious economic offences.

The petition further claims that Section 11A of the SEBI Act grants SEBI the explicit power to prohibit an issue to protect investors and ensure market integrity. “In case SEBI finds that an offer doc

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