company A made ipo under prospectus under book building procedure isssue was very succesful subscribed by retail investors, FII. transaction handeled by indian merchant banks. the offering completed at 100RS/share issue size was 500 crores

of which RS250 CRORES was new capital raised by company & RS 250 cores was offer for sale by promotors. subsequently it was discovered that there was tax liability

OF 300 CRORES which had been not disclosed there is pending litigation in SC.NO MENTION of it in prospectus. if your client is indian company & its management CFO, CEO & GANERAL COUNCEL OF COMPANY advise them what option available to them & how best they protect themselves? [please guide with case laws]