Smartworks Faces Valuation Inflation Amid Ongoing IPO

The NGO Infrastructure Watchdog has urged SAT to direct SEBI to initiate investigation in the affairs of the Smartworks, restrain it from proceeding with the IPO

The allegations include inadequate disclosure of inspection and investigation by the RoC, allegations of receiving funds from shell companies and some amounts through benami transactions, among others

It filed the appeal at SAT on July 8 and said that Smartworks is under an investigation by the Income Tax…