Subject: The promoters of Prince Pipes & Fittings Ltd face a litany of litigations which they have hidden from the investors and prospective investors. My Name: Montana Developers My City: Mumbai My State: Maharashtra My Complaint Against: Prince Pipes & Fittings Ltd Complaint Category: Finance & Investment My Complaint Description:  The promoters of Prince Pipes & Fittings Ltd face a litany of litigations which they have hidden from the investors and prospective investors. Some of the cases, civil as well as criminal, pending against them are:

 a)  Process came to be issued by the Ld. Metropolitan Magistrate, 37th Court, Esplanade, Mumbai bearing C. C. No. 164 OF 2013 for offences punishable under 420,465,468,471 r/w 34 of the Indian Penal Code vide order dated 09/12/2013 against Mr. Jayant Shamji Chheda and Mrs. Heena Parag Chheda the partners of Aditya Developers Pvt Ltd. who are also the Promoter/Chairman/Managing Director and Promoter/ Executive Director of Prince Pipes & Fittings Ltd in a case filed by Rajesh Madhani as the Director of Montana Developers

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b) A claim before a sole arbitrator has been filed claiming inter-alia for specific performance of a Joint Venture Agreement dated 30.12.2010 and damages, which includes but is not restricted to a claim of Rs.904.64 Crores against a firm Aditya Developers., which is a registered partnership firm and an entity which forms part of the Promoter group of the said Company as is reflected on page 173 at Serial No.10 under the sub caption ‘Firms’ in the said DRHP by Montana Developers.

c) Radon Developers Pvt. Ltd. V/s. M/s. Aditya Developers bearing No. Spl.C.S./2400479/2007

d) Radon Developers Pvt. Ltd. V/s. M/s. Aditya Developers bearing No. Spl.C.S./2400599/2007

e) Phelisida Philip Ghonsalvis V/s. M/s. Aditya Developers bearing No. Spl.C.S.18/2012

f) Francis Sebestin Lopic 1Versus M/s. Aditya Developers bearing No. R.C.S./1300337/2012

 g) Smt Jankibai Harishchandra Mankar v/s M/s. Aditya Developers bearing No. Spl.C.S.63/2015

h) Vimal Bhaskar Kadar v/s Aditya Developers bearing No. Spl .Dkst/1/2016

i) Tara Vishnu Bhoir v/s v/s Aditya Developers bearing No. Spl .Dkst/11/2018.

j) Sakuntla Sadhashiv Patil v/s v/s Aditya Developers bearing No. Spl .Dkst/12/2018.

a) Process came to be issued by the Ld. Metropolitan Magistrate, 37th Court, Esplanade, Mumbai bearing C. C. No. 164 OF 2013 for offences punishable under 420,465,468,471 r/w 34 of the Indian Penal Code vide order dated 09/12/2013 against Mr. Jayant Shamji Chheda and Mrs. Heena Parag Chheda the partners of Aditya Developers Pvt Ltd. who are also the Promoter/Chairman/Managing Director and Promoter/ Executive Director of Prince Pipes & Fittings Ltd in a case filed by Rajesh Madhani as the Director of Montana Developers.

b)  A claim before a sole arbitrator has been filed claiming inter-alia for specific performance of a Joint Venture Agreement dated 30.12.2010 and damages, which includes but is not restricted to a claim of Rs.904.64 Crores against a firm Aditya Developers., which is a registered partnership firm and an entity which forms part of the Promoter group of the said Company as is reflected on page 173 at Serial No.10 under the sub caption ‘Firms’ in the said DRHP by Montana Developers.

c) Radon Developers Pvt. Ltd. V/s. M/s. Aditya Developers bearing No. Spl.C.S./2400479/2007

d) Radon Developers Pvt. Ltd. V/s. M/s. Aditya Developers bearing No. Spl.C.S./2400599/2007

 e) Phelisida Philip Ghonsalvis V/s. M/s. Aditya Developers bearing No. Spl.C.S.18/2012

 f) Francis Sebestin Lopic 1Versus M/s. Aditya Developers bearing No. R.C.S./1300337/2012

g) Smt Jankibai Harishchandra Mankar v/s M/s. Aditya Developers bearing No. Spl.C.S.63/2015

 h) Vimal Bhaskar Kadar v/s Aditya Developers bearing No. Spl .Dkst/1/2016

 i) Tara Vishnu Bhoir  v/s Aditya Developers bearing No. Spl .Dkst/11/2018.

 j) Sakuntla Sadhashiv Patil  v/s Aditya Developers bearing No. Spl .Dkst/12/2018.

The promoters of Prince Pipes & Fittings Ltd face a litany of litigations which they have hidden from the investors and prospective investors. Some of the cases, civil as well as criminal, pending against them are:

a) Process came to be issued by the Ld. Metropolitan Magistrate, 37th Court, Esplanade, Mumbai bearing C. C. No. 164 OF 2013 for offences punishable under 420,465,468,471 r/w 34 of the Indian Penal Code vide order dated 09/12/2013 against Mr. Jayant Shamji Chheda and Mrs. Heena Parag Chheda the partners of Aditya Developers Pvt Ltd. who are also the Promoter/Chairman/Managing Director and Promoter/ Executive Director of Prince Pipes & Fittings Ltd in a case filed by Rajesh Madhani as the Director of Montana Developers.

b)  A claim before a sole arbitrator has been filed claiming inter-alia for specific performance of a Joint Venture Agreement dated 30.12.2010 and damages, which includes but is not restricted to a claim of Rs.904.64 Crores against a firm Aditya Developers., which is a registered partnership firm and an entity which forms part of the Promoter group of the said Company as is reflected on page 173 at Serial No.10 under the sub caption ‘Firms’ in the said DRHP by Montana Developers.

c) Radon Developers Pvt. Ltd. V/s. M/s. Aditya Developers bearing No. Spl.C.S./2400479/2007

d) Radon Developers Pvt. Ltd. V/s. M/s. Aditya Developers bearing No. Spl.C.S./2400599/2007

 e) Phelisida Philip Ghonsalvis V/s. M/s. Aditya Developers bearing No. Spl.C.S.18/2012

 f) Francis Sebestin Lopic 1Versus M/s. Aditya Developers bearing No. R.C.S./1300337/2012

g) Smt Jankibai Harishchandra Mankar v/s M/s. Aditya Developers bearing No. Spl.C.S.63/2015

 h) Vimal Bhaskar Kadar v/s Aditya Developers bearing No. Spl .Dkst/1/2016

 i) Tara Vishnu Bhoir  v/s Aditya Developers bearing No. Spl .Dkst/11/2018.

 j) Sakuntla Sadhashiv Patil  v/s Aditya Developers bearing No. Spl .Dkst/12/2018.

Subject: Beware investors! Complaint against M/s. Prince Pipes & Fittings Ltd, & it's promoters My Name: Pradeep My City: Mumbai My State: Maharashtra My Complaint Against: Investors Complaint Category: Finance & Investment My Complaint Description:  Complaint against M/s. Prince Pipes & Fittings Ltd, Mr Jayant Shamji Chheda and Mrs. Heena Parag Chheda for Intentional Non-Disclosure of Outstanding Litigation against the Promoters/Directors of Prince Pipes & Fittings Ltd in the Draft Red Herring prospectus dated 26/09/2017 under the curse of non requirement of the same despite of there being direct provisions for disclosing the same under the Draft Notification Dated: 15/02/2018 issued by the Ministry of Corporate Affairs and the various provisions of the Companies Act 2013 and further making untrue disclosures about there being no pending litigation against the Promoters of Prince Pipes & Fittings Ltd with the sole intention of portravine that Prince Pipes & Fittings Ltd is free of litigation so as to lure investors, shareholders and the public at large to invest their hard earned money in Prince Pipes & Fittings Ltd, being aware of the fact that if at all information relating to pending litigation are disclosed it would deter substantial sums of money from getting into the Initial Public Offering of Prince Pipes & Fittings Ltd from the investors, shareholders and public at large as the value of the claim under the said litigations is much more than the value of the IPO of M/s. Prince Pipes & Fittings Ltd, so if they disclose information relating to pending litigation they are very well aware of the fact that the public would be reluctant to buy or invest in their shares so they have found an ingenious way of fooling the public at large by not disclosing our claim as well as the claim of other parties against the promoters of M/s. Prince Pipes & Fittings Ltd. Also the promoters of M/s. Prince Pipes & Fittings Ltd have found a way of generating money by virtue of this IPO by intentionally suppressing the important and material details of their promoters as if those details of the promoters are revealed wherein serious allegations of cheating, forgery, criminal breach of trust are leveled against its promoters, they would not be in a position to generate money which they are intending to do by virtue of this Initial Public Offering.

Remedy Sought :

1)  Immediate stalling of the Initial Public Offering of M/S. Prince Pipes & Fittings Ltd due to the intentional non-disclouser of pending litigations pertaining to the above names as the same can have a catastrophic effect upon the money invested in the IPO.