SEBI issued a confirmatory order on April 26, 2024, dismantling Growpital Platform, an unauthorised collective investment scheme that had amassed ₹192 crore from investors seeking tax‑free farm returns.
The regulator first halted the scheme on January 29, 2024, directing 30 entities to stop floating any CIS, and later completed a probe that produced show‑cause notices to 30 firms.
In the crackdown, 28 associated companies were fined a total of ₹26.1 crore, while two firms settled the case by paying ₹40.6 lakh.
Investors now face a 12% interest return on their capital, and SEBI will enforce the payout through a set‑off mechanism, with the first tranche scheduled for end‑May. The move signals a hard line against unregulated farm‑investment vehicles.