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Get Case Study Solutions on Pondicherry Cement Companies IPO
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- Topic: MBA
- Document Type: Assignment Help (any type)
- Subject: Business
- Number of Words: 300
- Citation/Referencing Style: Harvard
Pondicherry Cements, one of the leading cement companies in India, advertised its IPO issue in the leading newspaper. The prospectus of the company issued for the purpose of IPO did not disclose the existence of any liabilities. Mr. Senthil Kumar, who applied for the IPO, was allotted shares and invested a huge amount of money in the 2. Pondicherry Cements. Later, the company had a huge accumulation of liabilities that the company didn’t disclose in the prospectus. Knowing the existence of the liabilities, Mr. Senthil approached the company for the cancellation of his shares and requested the repayment of his money. However, the company denied his request on the ground that shares were already allotted, and the company started its operations. The matter was going to the Honorable High Court of Calcutta -Assume that you are the Judge and give your Verdict.
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