The lack of specificity in the law regarding the number of partners and the amount of capital that can be invested allowed Gropital to exploit a loophole and attract investors. However, SEBI was concerned that mobilizing funds from a group of investors might necessitate regulation under the collective investment scheme regulations.
In today’s episode for 31st January 2024, we tell you why the Securities and Exchange Board of India (SEBI) has frozen the bank accounts of a startup called Growpital.
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