Growpital’s verdict

Hey everyone, here’s the latest scoop on Growpital’s hearing verdict from today, July 10.

First off, a little disclaimer: I wasn’t in the court personally, so this update comes from a reliable source who prefers to stay anonymous. You can probably guess who it is if neither the lawyers nor myself are the source.

The case was listed as item 19 on the agenda, but by 1:30 PM, it still hadn’t been heard. The Grupadel lawyers were getting anxious that it might not happen today due to the lengthy preceding hearings. As the court broke for lunch around 1:30 PM, Grupadel’s lawyer, along with SEBI’s lawyers, approached the bench. They laid out Grupadel’s intention to return the money to investors from the frozen bank accounts. SEBI responded that they need to review how and if this can be done.

The next hearing is now set for July 22. SEBI will then provide feedback on the process of returning the money, if it’s possible. Don’t worry about the accounts being unfrozen and Grupadel taking all the money—any redistribution will be managed according to SEBI and/or SAT’s orders.

If this plan goes through, it could be a win for investors, even if it’s just a small amount. The time value of money is also something to keep in mind, though the process might not be as simple as it sounds.

To wrap it up, the next hearing is on July 22, 2024. Grupadel wants to return the frozen account money to investors, and SEBI will update us on how and if this can happen.

Stay tuned for more updates, and thanks for reading techybaniya.com!

7 DIVIDEND STOCKS TO BUY FOR INCOME IN 2023
Rohit Sharma’s 37th birthday
FATHER OF PUNE TEEN DRIVER ARRESTED AFTER FATAL PORSCHE CRASH
Biocon Biologics receives USFDA
Stocks to Watch
Software-Defined Wide Area Network Market Set to Soar
Wipro’s Share- update