The agro-mutual fund that crashed and burned

In today's episode of The Daily Brief, we cover a deep dive and another story for the day shaping Indian and global markets:

1. Growpital’s Alleged Investment Fraud

We’ll cover:

●Growpital raised ₹193 crore from over 5,200 investors.

●A claimed ₹62 crore revenue from a 75-acre jeera farm was far above SEBI’s estimated maximum of around ₹30 lakh.

●Nearly ₹96 crore was traced through layers of entities to the promoters.

●SEBI has ordered refunds with 12% annual interest and imposed bans and penalties.

2. Indian Railways’ New Financing Model

We’ll cover:

●Six freight corridors will cover 647 km and mainly transport coal, iron ore and bauxite.

●Private companies could fund around 60% of construction costs under HAM.

●The model shifts freight-risk away from private developers and back to Railways.