Arm Holdings faces an antitrust probe by the U.S. Federal Trade Commission over the British chip designer’s licensing of its semiconductor technology, part of global scrutiny of the business, Bloomberg News reported on Friday. The FTC is investigating whether Arm is trying to illegally
Soft And Fluffy Egg White Bhurji With Colourful Vegetables For Healthy Meal PreparationLean egg white bhurji combines egg whites, fresh vegetables, and mild spices to create a low-calorie high-protein meal suitable for balanced eating. Updated on: May 16
Indian who called Japan home for 30 years fears deportation, breaks down crying: ‘My children only speak Japanese’The Indian man who has lived in Japan for over 3 decades runs a curry restaurant near Tokyo. Published on: May 16, 2026 9:19 AM IST By Trisha Sengupta Share via Copy link An Indian
5 from Jaipur family at the centre of paper leak case cleared NEET in 2025Dinesh Biwal, along with his brother Mangilal Biwal and Mangilal's son Vikas Biwal, was arrested in connection with the NEET paper leak. Published on: May 16, 2026 10:45 AM IST By Trisha Sengupta Share via Copy link Five
Protein Rich Dahi Paratha With Tangy Flavour And Balanced Nutrition For Breakfast TimeHigh-protein dahi paratha combines yoghurt, whole wheat flour, and spices to create a soft breakfast flatbread with balanced flavour and protein-rich nutrition. Updated on: May 16
WeWork IPO Controversy Explained: Why Investor Moved Bombay High Court
WeWork IPO Controversy Explained: Why Investor Moved Bombay High Court Alleging Misleading Disclosure
As per reports, the petition in the Bombay High Court claimed that Section 11A of the SEBI Act gives SEBI clear authority to impose restrictions on any issue in order to ensure investor protection and market integrity.
Flexible co-working space provider WeWork's Initial Public Offering is open for subscription and will be clsoing on October 7. The company has set a price band of Rs 615 to Rs 648 per share for its Rs 3,000 crore IPO. The IPO entirely comprises an offer for sale (OFS) of 4.63 crore shares. Under this, promoter group Embassy Buildcon LLP and investor 1 Ariel Event Limited (a part of WeWork Global) will sell their stakes. The company had raised Rs 1,348 crore from anchor investors ahead of its IPO. The much-debated IPO has now landed in a legal controversy alongside the Securities and Exchange Board of India (SEBI), said reports. The first hearing took place in the Bombay High Court on October 3 and the next hearing will take place on October 7.
An investor, Vinay Bansal, has filed a writ petition claiming that the company's draft red herring prospectus (DRHP) contains false statements and hides key facts. He says it fails to disclose a criminal chargesheet against the promoters for serious economic offences, reported NDTV.
Add Zee News as a Preferred Source
Bansal told the court that he had already complained to SEBI about major gaps in the DRHP, such as misleading claims about brand ownership, weak financials, and the concealment of criminal cases against promoters. He alleges these issues still remain in the red herring prospectus, said the report.
According to Hindustan, the petition asks the court to order SEBI to quickly decide on his complaint and issue a clear, detailed order within a set timeline. Bansal has also requested that SEBI investigate the irregularities and stop the company's securities from being listed until the matter is fully addressed.
As per reports, the petition in the Bombay High Court claimed that Section 11A of the SEBI Act gives SEBI clear authority to impose restrictions on any issue in order to ensure investor protection and market integrity. The petitioner reportedly argued that the funds raised through IPOs would not create any tangible assets or business opportunities for the issuer. The petitioner alleged that the IPO has primarily been designed to provide promoters an exit route at the cost of retail investors, which violates SEBI's general order of 2012 and the principles laid down therein and thus, SEBI can impose a restriction on the IPO, alleged the investor, said reports.
According to the reports, the petitioner accused SEBI of inaction in the face of extensive complaints filed against the company planning to go public. The petition states that despite complaints being filed with SEBI, no decision was taken on the matter, nor was any reasoned message issued. Instead, only a general order was passed, which, according to the petitioner, violates the stipulated principles.
Karan Virvani, MD & CEO, WeWork India, told NDTV Profit on Friday that flexible co-workspace is a sunrise sector of commercial real estate and the company has sufficient capital at present. Speaking about the IPO, Virvani said, "WeWork went through an extensive book building process. The company has ICICI Prudential, HDFC MF, Motilal Oswal and Axis - all of these are really large names and has a very high quality book. Also global firms like Goldman and Mundi have now joined the cap table. So that is what we wanted, a very high quality book, and if that meant doing the IPO at a slightly lower price, we're completely okay with it. We think that in the next few months or the next few quarters, this won't matter, as everyone will get to make money, and everyone will see some upside for sure."
Source: ZeeNews
Related Posts: Kharar woman dies after speeding SUV hits scooter in Chandigarh’s Sector 10 Consider bringing back revenue mechanism on UPI for sustenance of sector Kerala High Court dismisses petition challenging BJP MP Suresh Gopi’s election Supreme Court petition seeks court-monitored re-test Bombay High Court functions only till noon Aditya Pancholi attends Bombay High Court hearing to quash sexual assault FIR Bombay High Court also receives bomb threat Bombay High Court restrains man from defaming Palaash Muchhal Bombay High Court Hall Ticket 2026 for peon posts released Chilling video shows collapsed wall that claimed 7 lives amid Bengaluru rain
Congress MP Priyanka Gandhi Vadra on Friday (May 15, 2026) mourned the alleged suicide of National Eligibility cum Entrance Test (NEET) aspirant Ritik Mishra in Lakhimpur Kheri and targeted recurring exam irregularities and cancellations for driving students into severe distress
28 minutes ago
Iran on Friday urged India to continue investing in the strategically important Chabahar Port despite growing pressure from US sanctions, with Iranian Foreign Minister Abbas Araghchi describing the project as a major symbol of India-Iran cooperation
26 minutes ago
Pakistan’s former Prime Minister Imran Khan’s sister moved the Islamabad High Court, challenging his “prolonged solitary confinement” at Adiala Jail, calling it illegal and a violation of fundamental rights, according to a media report on Friday (May 15, 2026)
26 minutes ago
faces an antitrust probe by the U.S. over the British chip designer's licensing of its , part of global scrutiny of the business, Bloomberg News reported on Friday.The FTC is investigating whether Arm is trying to illegally monopolize parts of the semiconductor market, the report said
26 minutes ago
Manipur: Talks on for release of those still in captivity of armed groupsManipur: Talks on for release of those still in captivity of armed groups Published on: May 16, 2026 11:34 AM IST PTI Share via Copy link Imphal, Talks are underway among civil society organisations
26 minutes ago
Career Horoscope Today for May 16, 2026: Quiet progress may actually begin to show visible resultsCareer Horoscope Today, May 16, 2026: Get career astrological predictions to help you prosper at your workplace. Published on: May 16, 2026 8:34 AM IST By Kishori Sud Share via Copy link Aries Your
26 minutes ago
I asked ChatGPT to help me plan a budget-friendly international trip for my family of four this summer, and asked it to ensure that the destination was safe from the impact of the Middle East war. ChatGPT analysed the global tourism scenario for Indians and delivered the perfect destination for my
27 minutes ago
₹1.55 crore hidden in secret SUV compartment seized in Dehradun, 3 Gujarat men questionedThe driver initially gave evasive replies when police sought vehicle-related documents, prompting officers to carry out further questioning. Updated on: May 16
26 minutes ago
Who was Abu-Bilal al-Minuki, ISIS global number two, killed by US and Nigeria?Abu-Bilal Al-Minuki operated as a senior commander for ISWAP and directed operations for the Lake Chad division of ISIS's General Directorate of Provinces (GDP) Updated on: May 16
27 minutes ago
The Supreme Court on Friday ordered the Uttar Pradesh Police to produce before it two men arrested in a case related to the workers’ protest in Noida in April after a family member alleged custodial torture, Bar and Bench reported. The men Aditya Anand and Rupesh Roy must be produced before the
26 minutes ago
Singer Keneeshaa Francis and actor Ravi Mohan have remained in the spotlight ever since Ravi separated from his wife, Aarti Ravi, in 2024 and was later linked romantically with Keneeshaa. Their public outings and social media exchanges often garnered attention amid their dating rumours. Keneeshaa
27 minutes ago
National Eligibility-cum-Entrance Test (NEET) aspirants from across the country who prepared and appeared for the exam in Delhi reacted to Friday’s announcement of the retest date — June 21 — with apprehension and frustration. The decision to conduct the examination again has left them in a
28 minutes ago
Kalki 2898 AD, Puli producers react to Kamal Haasan's urging Indian film industry to curb production costsOn Friday, Kamal Haasan posted an open letter appealing the Indian film industry to curb production costs amid the West Asia conflict. See reactions. May 16, 2026
27 minutes ago
Uttar Pradesh minister Suresh Khanna first to be declared state’s ‘outstanding legislator’A special ceremony is proposed be held in the assembly at a future date to present the “outstanding legislator” award. Published on: May 16, 2026 7:46 AM IST By HT Correspondent
3 hours ago
No film star is having a year as good as Sandra Hüller. With Project Hail Mary smashing the box office, and new film Fatherland earning rave reviews at Cannes, she could do the unprecedented. We all know a potential Oscar clip when we see one
3 hours ago
Dual-income techie couple hesitates to buy ₹1.7 crore flat amid IT layoffsThe techie shared that while they can manage the EMIs and down payment, they fear getting trapped with a massive loan during layoffs. Published on: May 16, 2026 7:09 AM IST By Trisha Sengupta Share via Copy link For tech
3 hours ago
Hollywood star John Travolta has been surprised with an honourary Palme d'Or, the Cannes equivalent of a lifetime achievement award, while premiering his directorial debut at the film festival. The 72-year-old actor, who was at the film festival for the premiere of Propeller One-Way Night Coach
3 hours ago
The Sensex closes around 75,238, down nearly 161 points or 0.21%, while the Nifty 50 settles below the 23,650 mark at 23,643, declining 0.19%. Indian equity markets ended lower on Friday after witnessing volatile trade through the session, as concerns over rising crude oil prices
3 hours ago
Social media CEOs once again are being called to testify before the Senate in light of mounting legal and public pressure to protect young users on their platforms. The leaders of Meta, Alphabet, TikTok and Snap were invited to testify next month before the Senate Judiciary Committee
3 hours ago
‘Bee tornado’ spotted near White House: ‘Is this a biblical curse 2.0?’Videos circulating across social media showed dense clouds of bees swarming around the White House press corps’ “Pebble Beach” media workspace. Updated on: May 16, 2026 4:06 AM IST By Shirin Gupta Share via Copy
3 hours ago
Split tenure plan for Kerala CM post shot down in Delhi during Congress leadership talksOn Thursday, the party announced their choice as VD Satheesan, the 61-year-old leader of opposition. There were no deputy chief ministers announced. Updated on: May 16
3 hours ago
India cannot depend on others for its security: RajnathDefence Minister Rajnath Singh emphasizes self-reliance in India's defence sector, highlighting significant advancements and new projects for national security. Published on: May 16, 2026 7:58 AM IST By Srinivasa Rao Apparasu
3 hours ago
Under the revised norms, first-time applicants seeking permission to import gold will now undergo mandatory physical inspection of their manufacturing units by DGFT officials before authorisation is granted. New Delhi: The Centre has imposed a limit on duty-free gold imports under the
3 hours ago
Uphold ‘nation first’ spirit, support PM’s call to conserve fuel: YogiChief minister Yogi Adityanath inaugurates, lays foundation stone of ₹208-crore projects in Maharajganj district, says every vote transformative, can choose development or mafia rule Published on: May 16
3 hours ago
As AI reshapes career expectations, students and parents are increasingly evaluating universities through the lens of future-readiness. Modern infrastructure, technology enabled learning environments and visible institutional preparedness are emerging as important factors influencing admissions
3 hours ago
Rupee at Fresh All-Time Low: The domestic currency hits its fresh all-time low of 96.14 against the US dollar during the day, falling 50 paise from the previous close. Rupee at New Record Low: The Indian rupee on Friday breached the 96 mark for the first time in history
3 hours ago
OpenAI has launched a new Personal Finance experience inside ChatGPT which allows users to connect their financial accounts, chat with the AI assistant to understand their spending habits, subscriptions, investments, and broader financial goals
3 hours ago
![Cannes [France], May 16 (ANI): Two-time Oscar nominee John Travolta was presented with an honorary Palme d’Or ahead of the world premiere of his feature](http://newsorbit360.com/files/news/en/imgs/john-travolta-receives-surprise-honorary-palme-d.webp?width=120&height=70)
