Supreme Court to Hear Plea Against Smartworks IPO Amid Unusual Delay in SAT Order and Ongoing Investigations

Supreme Court to Hear Plea Against Smartworks IPO Amid Unusual Delay in SAT Order and Ongoing Investigations

The Supreme Court will hear a petition filed by public policy group Infrastructure Watchdog challenging the clearance granted to Smartworks Coworking’s ₹583-crore IPO. The plea comes in the wake of the Securities Appellate Tribunal (SAT) dismissing the NGO’s appeal against the IPO on July 16—but the tribunal’s detailed judgment is yet to be uploaded to its official website, six days later, raising serious procedural concerns.