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Zomato IPO: Here is what the company said about legal proceedings

Zomato stated that there were two criminal proceedings involving the company, six legal actions initiated by regulatory and statutory authorities and three related to indirect taxation matters.

April 28, 2021 / 11:36 AM IST
Zomato filed its DRHP with the market regulator on April 28, stating that will offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 billion).

Zomato filed its DRHP with the market regulator on April 28, stating that will offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 billion).


Zomato filed its Draft Red Herring Prospectus (DRHP) with the market regulator on April 28, stating that it would offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 billion).

In the DRHP, the food delivery platform mentioned the legal proceedings the company was involved in. Zomato said there were no material civil proceedings involving the company.

It stated that there were two criminal proceedings involving the company, six legal actions initiated by regulatory and statutory authorities and three related to indirect taxation matters.

In the litigation pertaining to indirect taxation, the amount involved is Rs 963.45 million.

Also read: Zomato IPO: Food delivery platform aims to raise Rs 8,250 crore, Info Edge will sell a part of its investment

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Zomato said there were six legal proceedings involving its subsidiaries - two initiated by regulatory and statutory authorities, and four related to taxation (direct and indirect).

The food delivery platform also mentioned that there are various consumer complaints against the company.


"Our Company is involved in a total of 25 consumer related proceedings currently pending before various fora such as district consumer disputes redressal forum and consumer courts, wherein third party complainants (excluding those notices issued by statutory/ regulatory/ governmental/ tax authorities) have made allegations against our Company in relation to, among others, delivery of incorrect orders, deficiency in service, incorrect restaurant information on our platform, wrongful additional charges charged by the restaurant, delayed delivery or non-delivery of orders and unwanted objects in the order delivered," Zomato said.


Moneycontrol News
first published: Apr 28, 2021 11:36 am

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