Promoter classification: workspace solutions provider Table Space faces Sebi scrutiny

Bengaluru-based Table Space Technologies faces regulatory scrutiny following a dispute over the ownership of approximately 22% of the firm's pre-offer equity. The stake formerly held by the late Amit Banerji is the subject of a legal dispute between his mother, Sarita Banerji, and his wife, Shruti Banerji, alongside their minor daughter.The dispute stems from a contested will that excluded the wife from the inheritance and named the mother as the custodian of the daughter’s stake until she reaches age 25. Shruti Banerji has challenged the validity of the will and petitioned Sebi to address the company's decision to classify Sarita Banerji as a promoter. Shruti Banerji claims that she and her daughter, as equal Class-I legal heirs, were omitted from the promoter group in the filing.Founded in 2017 by Amit Banerji, Karan Chopra, Kunal Mehra and Srinivas Prasad, the company offers managed workspace solutions. Its clients include Fujitsu, Ericsson, Mastercard, Shell, and American Express.