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Growpital Case Settled: Two Entities Pay Over Rs 81 Lakh to Sebi
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News18•28-09-2026, 22:30
Growpital Case Settled: Two Entities Pay Over Rs 81 Lakh to Sebi
- •Nutrikosh India Pvt Ltd and Alok Chaudhary settled with Sebi in the Growpital case by paying Rs 81.12 lakh.
- •The settlement was reached without admitting or denying the alleged fraudulent activities related to the agri-investment platform Growpital.
- •Sebi had issued a show cause notice to 30 entities, including Nutrikosh India and Chaudhary, for alleged violations of Sebi Act and PFUTP regulations.
- •Nutrikosh was accused of aiding fraudulent activities, acting as a conduit for funds, and playing an active role in a scheme promising assured tax-free returns.
- •The Growpital platform was previously flagged by Sebi in January 2024 for raising Rs 192.88 crore from the public through an unregistered collective investment scheme.
Key Questions Answered
Nutrikosh India Pvt Ltd and Alok Chaudhary paid a total of Rs 81.12 lakh towards settlement charges, with each applicant remitting Rs 40.56 lakh to settle the Sebi proceedings without admitting or denying the findings.
Sebi alleged that Nutrikosh India aided and abetted co-investors in fraudulent activities, acted as a financial conduit transferring Rs 7.03 crore, and played an active role in a scheme promising assured tax-free returns to collect funds from investors.
Sebi levied fines exceeding Rs 25 crore on 28 entities, including Growpital and its founder Rituraj Sharma, ordered the wind-up of the scheme, and barred them from securities markets for up to five years for running an unregistered collective investment scheme.
