Can we discuss about growpital issue?

[shussain609]

Can we discuss about growpital issue. I invested into this after knowing about it from this beKifayati. Now I am not getting any info from anywhere

 

[ShavirB]

Last month, SEBI had come out with an order against them and has stopping almost all financial activity ASAP. The company will appeal, undoubtedly. But this issue now creates massive uncertainty on companies operations

 

[shussain609]

This much we already know. What I wanted to know is what actions growpital is taking as of now. Are they clarifying sebi or are they running away from India after looting people

 

[ShavirB]

This much we already know. What I wanted to know is what actions growpital is taking as of now. Are they clarifying sebi or are they running away from India after looting people

Thankfully the team has not completely vanished from the scene. Founder has acknowledged the issue on linkedin and is hopefully working on resolving this.

But if we look back and take cues from the past (Anubhav Plantations from Late 90s), mostly SEBI will come up with some regulations either to give such investments legitimacy or to completely ban such schemes. Guess, we'll have to wait and watch.

 

[shussain609]

This is helpful. Can u explain more on Anubhav plantation final conclusion regarding investors money. Did they got it back and how long did they wait for their money

 

[ShavirB]

Anubhav Plantations was a clear case of pyramid scheme which is why a lot of people lost money. As of now we don't know the reality of Growpital - its for SEBI to unearth their true intentions. Just hoping that investors get their money back unscathed.

 

[shussain609]

Received a mail today saying growpital has provided all the information to sebi but still the accounts has not been unfrozen.
This has impacted crop yeild.
No salary has been given to any employee.

 

[ShavirB]

Received a mail today saying growpital has provided all the information to sebi but still the accounts has not been unfrozen.
This has impacted crop yeild.
No salary has been given to any employee.

It's a good sign that company is keeping all the stakeholders updated with the latest happenings