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SEBI Warns As Strata Surrenders SM REITs License: What Went Wrong & How Can It Impact Investors?
KEY TAKEAWAYS Strata (now transitioned into Everstrat), a major fractional real estate platform in India, surrendered its SM REITs license just five months after receiving it from SEBI, without launching any schemes under the license. SEBI has issu...
blog.thealtinvestor.in9 min read
#sm-reits#strata-founders#strata-sm-reits-license#everstrat-strata-founders#sm-reits-license-surrender#strata-fraud#strata-investment-sm-reits#sudarshan-lodha-priyanka-rathore-strata#sebi-warning-strata-sm-reits-license#strata-dispute-sebi#strata-avigna-dispute-tamil-nadu#sebi-sm-reits-license
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.