Please cover invoice discounting platforms like ULTRA/TAP INVEST which have flimsy security mechanisms and have risked retail investor money by switching names after every default. Latest is GENSOL default. ULTRA continued to list GENSOL deals despite delays in repayment to it's lenders and SEBIs enquiry order in 2024. No clarity is given by ULTRA whether these deals are with recourse or not. No info on who is buyer and seller or whose invoices are being discounted. Though SEBI has few platforms registered but even those face similar defaults.

Several investors are in the lurch with Gensol failure. Such promoters must be charged and tried under PMLA.