Sebi busts Growpital’s ‘assured’ farm returns (opens the source in a new tab)
- Sebi found the Jaipur agri-investment platform ran an unregistered collective investment scheme, raising about ₹202 crore from 7,172 subscriptions with ‘assured’ returns of up to 18.5%.
- Money moved through supplier and ‘revenue’ entities, with about ₹95.6 crore reaching promoter-linked Yotta Agro; a claimed ₹61.68 crore jeera crop could have earned about ₹29.83 lakh, Sebi estimated.
- Investors must be refunded with 12% annual interest, and penalties in the order total about ₹25.1 crore.
- ₹202cr
- raised, 7,172 subs
- 18.5%
- top ‘assured’ return
- 12%
- refund interest/yr
Why it matters ‘Assured’ returns wrapped in complex structures remain a classic red flag.
Other side Growpital says its farm trading was real, backed by invoices, and that frozen accounts hurt operations. Will investors actually get their money back?