Mumbai: Case filed against Officials Of Clean Max Enviro Energy Solutions Limited with BSE & NSE for floating IPO of Rs 5200 Cr without SEBI Permission. In Feb 2026 its share got listed at NSE and BSE without SEBI permission . In RTI SEBI failed to provide copy of NOC which proves that IPO did not got SEBI permission. The company fraudulently taken interest free money from public with support of NSE and BSE without regulator permission by selling its shares to public.
After SEBI no response on complaint complainant approached SEBI court at Mumbai session for direction to SEBI to register FIR as offence is cognizable under SEBI act 1992 with return of money of Rs 5200 cr with 15 percent interest. Soon matter will be listed for hearing. Top media economic times and others published that clean max got SEBI Nod but in RTI no such copy received. SEBI called NOC as generic and vague document . Earlier also SEBI court directed SEBI to conduct investigation in Radhe developers IPO fraud.
Respondents are
1.KULDEEP JAIN
Age 58 Approx, Male , Occp: PROMOTER & Non-Executive Director
CLEAN MAX ENVIRO ENERGY SOLUTIONS LIMITED
4th
Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road
No.1, Churchgate Mumbai - 400 020
2. PRATAP JAIN
Age 59 Approx, Mae , Occp: PROMOTER & Chairperson and Managing Director
CLEAN MAX
ENVIRO ENERGY SOLUTIONS LIMITED
4th
Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road
No.1, Churchgate Mumbai - 400 020
3. NIDHI JAIN
Age 50 Approx, FEMALE , Occp: PROMOTER
CLEAN MAX ENVIRO ENERGY SOLUTIONS LIMITED
4th
Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road
No.1, Churchgate Mumbai - 400 020
4. NIKUNJ
GHODAWAT
Age 55 Approx, Male , Occp: CFO
CLEAN MAX ENVIRO ENERGY SOLUTIONS LIMITED
4th
Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road
No.1, Churchgate Mumbai - 400 020
5. SRINIVAS INJETI.
Age 59 Approx, Male , Occp: Chairperson
NSE India Limited
Exchange
Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.
6. ASHISH KUMAR CHAUHAN
Age 59 Approx, Male , Occp: Chairperson
NSE India Limited
Exchange
Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.
7. SUBHASIS
CHAUDHURI
Age 59 Approx, Male , Occp: Chairman BSE
BSE Limited ,
Phiroze Jeejeebhoy
Towers, Dalal Street, Fort, Mumbai, 400001.
8. SUNDARARAMAN
RAMAMURTHY
Age 59 Approx, Male , Occp: MD and CEO
BSE Limited ,
Phiroze Jeejeebhoy
Towers, Dalal Street, Fort, Mumbai, 400001.
9. CLEAN MAX ENVIRO
ENERGY SOLUTIONS LIMITED
(Through Chief Compliance Officer & Company
Secretary)
4th
Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road
No.1, Churchgate Mumbai - 400 020
Secretarial@cleanmax.com
10. BSE
Limited ,
(Through Compliance Officer)
Phiroze Jeejeebhoy
Towers, Dalal Street, Fort, Mumbai, 400001.
11. NSE India Limited
(Through Secretary and Compliance
Officer)
Exchange
Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.
12. SEBI
Through Its Chairperson, BKC
, Bandra , Mumbai......... Accused
CITY CIVIL AND SESSION COURT MUMBAI
Case Details
SEBI MA
110859/2026
14-07-2026
100744/2026
16-07-2026
MHCC020106712026
Case Status
17-July-2026
17-July-2026
Pending
APPEARANCE
22-COURT 22 ADDL SESSIONS JUDGE
Petitioner and Advocate
1) Sapan Shrivastava and Other 2
2) VEERENDRA ABHISHEK
Advocate - Sapan Shrivastava
3) AMOL S BELDAR
Advocate - Sapan Shrivastava
Respondent and Advocate
1) KULDEEP JAIN AND OTHERS 11
2) PRATAP JAIN
3) NIDHI JAIN
4) NIKUNJ GHODAWAT
5) SRINIVAS INJETI
6) ASHISH KUMAR CHAUHAN
7) SUBHASIS CHAUDHURI
8) SUNDARARAMAN RAMAMURTHY
9) CLEAN MAX ENVIRO ENERGY SOLUTIONS LIMITED
10) BSE LIMITED
11) NSE INDIA LIMITED
12) SEBI
Acts
Securities Contracts (Regulations) (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules,
2005
15HA
Bharatiya Nagarik Suraksha Sanhita
175