Sebi Orders Growpital to Shut Down

Times of India · business

Markets regulator Sebi has ordered Growpital Platform to wind up its operations and return money to investors with 12% interest. The company had mobilised approximately Rs 192 crore by offering tax-free returns on investments in agricultural farms. Twenty-eight associated entities have been fined Rs 26.1 crore, while two settled for Rs 40.6 lakh. Sebi had previously issued interim and confirmatory orders directing the entities to cease floating collective investment schemes.