Promoter’s Personal Court Case Adds Risk to Pranav Constructions IPO

Beyond project‑related concerns, the prospectus discloses a personal dispute involving the chief promoter, Pranav Kiran Ashar. On June 5, 2024, his wife, Vaishali Pranav Ashar, filed a case under Section 12 of the Protection of Women from Domestic Violence Act, 2005, in the Metropolitan Magistrate Court, Borivali, Mumbai. The complaint seeks a protection order, residence and custody orders, and monetary relief of ₹ 10.21 crore. The matter remains pending, and the company admits it lacks sufficient information on the promoter’s related entities, a disclosure required under SEBI ICDR norms.