Stop Prince Pipes IPO immediately and protect investor from a potential fraud Prince Pipes' Rs. 500 crores IPO should be immediately stopped and 3rd party investigation (forensic audit by big 4) should be carried out so that investors interests are protected. FIR was registered on 7-12 -**** against promoters Jayant &;;;;; Heena Chheda in a cheating case by EOW Mumbai. They have a liability of crores of rupee Litigations on. They havent disclosed. That makes it a risky IPO. They are yet to settle pending claims of around Rs.900 crores of Montana Developers and face several suits in the matter which they have hidden from investors. SEBI must instruct the independent director, CA, CFO of Prince Pipe to resign for free & fair forensic audit to avoid a potential scam. Montana Developers had paid Rs.46.25 cr in 2010 for JVA for 35 lakh feet development with Prince Pipes group company Aditya Developer at Vasai west land. They allegedly diverted money to their personal purpose. Check before subscribing to Prince Pipes IPO. Moreover, Prince Pipes group co Aditya failed to fulfill its consent term with 300 slum developers. Aditya have to pay 10 lakh to each farmer, the amount comes to 30 crores. Price Pipes failed to disclose group company Aditya developers litigations/ claims against its promoters in DRHP 26th Sept 2017 (which was withdrawn) & DRHP dated 15th Oct 2018 and disclosed it later in the RHP dated 11th Dec 2019. Yet the company has not disclosed FIR registration against promoter Jayant Chheda, Heena Chheda by MUMBAI EOW police in RHP in clear violation of the SEBI (ICDR) Regulations, 2009. Prince Pipe IPO: FIR registered on 7-12-19 against promoters of Prince Pipe in a cheating case. RHP approved on 11-12-19, online available on 13-12-19,IPO on 18-12-19. After knowing about FIR, Prince Pipe launch IPO in 6 days (including Saturday, Sunday) short notice to collect Rs. 500 cr from investors. How can a promoter facing a registered FIR under u/s 406, 420 and 120 (B) of the IPC just a week ago can go for Rs 500 crore IPO? I strongly recommend all the investors to avoid dealing with prince Pipes or else in the end you will lose all your money.