CosmicTaco

Growpital’s Investment Model Leaves 5K+ Investor-Partners in the Lurch

CosmicTaco · 2024-07-10T14:45:11.123140+05:30

- Since SEBI’s order in January, over 5K+ investor-partners have not received their instalments from Growpital. - The company has laid off almost all employees, reducing headcount from 100+ to less than five, and the website is shut down. - Growpital allegedly ran the CIS scheme illegally and made fake projections for a future IPO. - Vineet Gupta, a confectionery store owner, and his wife Anjali have not received payouts, affecting their child's education. - SEBI froze INR 50 Cr in bank accounts, and legal actions are being considered by affected investors.

Since SEBI’s order in January, over 5K+ investor-partners have not received their instalments from Growpital.
The company has laid off almost all employees, reducing headcount from 100+ to less than five, and the website is shut down.
Growpital allegedly ran the CIS scheme illegally and made fake projections for a future IPO.
Vineet Gupta, a confectionery store owner, and his wife Anjali have not received payouts, affecting their child's education.
SEBI froze INR 50 Cr in bank accounts, and legal actions are being considered by affected investors.

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Growpital (An Agri-Fintech startup) is under SEBI probe. But nowhere has the media caught that Prashant Pitti (EaseMyTrip) was the co-founder here. Lack of info, or paid off?

TLDR from article:

5K+ investor-partners have not received their instalments from Growpital
The headcount has reduced from 100+ to less than five, the website is shut down
Besides running the CIS scheme ‘illegally’, Growpital ...

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