The market regulator has cautioned investors against dealing in such securities, citing violations of law.
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A row has broken out between invoice discounting platform TradeCred and a few investors over a default involving the popular startup Bizongo. This is the latest blow-up in a space that is driven by the allure of high returns and is a regulatory grey area.
With his back to the wall, the founder is exploring options that could benefit him much more than others. Even at the expense of the customers, investors, vendors and employees.
SEBI’s interim order details how the green energy poster boy built a paper empire with investor money while living a billionaire lifestyle.