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RentoMojo IPO Faces NCLT Fight as Cofounder Alleges Fraud and a Coerced Sale
Business
Published on 24 April 2026
He claims a buyout was sold as a golden exit
RentoMojo’s IPO road has hit an NCLT roadblock after ex-COO Ajay Nain alleged he was coerced into selling his 9.41% stake at a fraction of value. Nain says executives hinted at imminent liquidation and used “fraud and misrepresentation,” pressing for the deal to be voided and the IPO halted. RentoMojo says the matter is sub-judice.
- Ex-COO Ajay Nain moved the NCLT over a buyout he says was coerced
- Allegations include fraud, misrepresentation, and “golden chance” exit pressure
- Nain disputes the valuation, pointing to later trades and fundraise at higher multiples
- The dispute comes as RentoMojo files its DRHP for an IPO
Read the full story at Inc42
This summarization was done by Beige for a story published on 
Inc42