Juniper Green Energy Limited, before its planned initial public offering (IPO), has revealed ongoing legal issues in an addendum to its Draft Red Herring Prospectus filed with SEBI on July 9. The company, along with its subsidiaries, promoters, directors, and key managerial personnel, faces various litigations. Notably, there is a civil litigation of Rs 104.40 million against the company, while its subsidiaries are involved in criminal and civil proceedings exceeding Rs 749 million.
The disclosure in the draft papers also highlights six tax proceedings amounting to Rs 3.71 million against Juniper Green Energy. The subsidiaries of the company have a higher exposure to litigation, with two criminal proceedings and two civil litigations totaling Rs 707.19 million. Additionally, the subsidiaries are facing one criminal proceeding, one regulatory action, and two civil litigations amounting to Rs 42.29 million.
Legal proceedings involving the company’s promoters, directors, and key managerial personnel have also been outlined in the Draft Red Herring Prospectus. The company emphasizes that these litigations are part of its regular business operations and cover matters pending in various courts, tribunals, and statutory bodies.
Juniper Green Energy warned about the potential adverse impact of unfavorable judgments, monetary damages, or permit-related challenges on its business, financial condition, and operations. The company acknowledged that settlements of claims could negatively affect its financial performance.
