PhonePe has also filed a case against Affle and Ventureast (another IndusOS investor) in a Singapore court. The lawsuit claims that VPF "deliberately deceived" PhonePe, by continuing to engage PhonePe and OSLabs on the sale of its shares.
Read more about PhonePe files complaint with Sebi against Ventureast Fund over OSLabs deal on Business Standard. PhonePe says Ventureeast sold shares to Affle in a side deal while engaging on the sale of same shares in favor of PhonePe