India, April 23 -- Ajay Nain, cofounder and former COO of RentoMojo, has alleged in a petition before the NCLT's Bengaluru bench that he was pushed out of the furniture and appliance rental startup through a misleading and undervalued share sale in 2023. 

Nain has accused RentoMojo founder and CEO Geetansh Bamania and other senior executives of fraud, misrepresentation and misuse of control to force a minority shareholder exit. 

He is seeking to declare his share sale void, reinstatement of his stake of about 9.41% stake, and blocking the proposed IPO of the startup until the dispute is resolved.

Inc42 has accessed the petition filed by Nain. RentoMojo's DRHP, filed in late March, mentioned the petition in question.

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