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Policy · Agriculture & Food Systems

SEBI keeps Growpital ban while probe continues

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Growpital logo
Date
Company
Growpital
What it does
Farmland investment platform
Kind
Policy
Founded
2020
Sector
Agriculture & Food Systems

What they do

Growpital raised money from the public for farm projects through LLP partnerships, promising fixed tax-free returns

What happened

In April 2024 SEBI confirmed its earlier ban on Growpital and linked entities until its investigation ends

Why it matters

It unfroze the bank accounts of directors Rituraj Sharma, Gayatri Rinwa and Krishna Sharma, but kept the market bar

The details

  • SEBI confirmed its interim order against Growpital in April 2024.
  • Growpital and related entities stayed barred from securities markets.
  • The ban holds until the probe ends.
  • SEBI unfroze the bank accounts of three directors.
  • Whole-time member Amarjeet Singh passed the order.

The bigger picture

  • SEBI said it wanted to keep investor funds from being misused.
  • It pointed to unclear revenue and apparently overstated claims about land under farming.
  • A detailed investigation was still running.

About the business

  • Growpital ran farm investments through LLP structures.
  • It was operated by Farm Silo Tech LLP.
  • It promised tax-free returns to investors.

What happens next

  • SEBI's full investigation continued.

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