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Agri Investment Platform Growpital Pulled Up For Violating SEBI Norms

Inc42

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The Securities and Exchange Board of India (SEBI) has issued a notice against agri investment platform Growpital for violating CIS (Collective Investment Schemes) regulations. SEBI found that Growpital assured fixed income with tax-free returns to investors, which violated regulations. The platform claimed to have over 20,000 acres of farm portfolio, offering returns through a collective investment scheme. SEBI found that multiple LLPs were incorporated for this purpose, but no financial results were disclosed as required. Over INR 184 Cr were mobilized through Growpital, exceeding the permissible investment limit. SEBI has ordered Growpital to cease and desist from operating such schemes and remove all materials related to unregistered CIS activities.

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