SEBI v. Nutrikosh India Private Limited and Alok Chaudhary (Growpital Platform, settlement, 2026)
Settled
Checked against the primary document on October 9, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the order; an independent second reading of 60 SEBI records agreed on every field for 56, the four misses being penalty amounts. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In September 2026 SEBI settled proceedings against Nutrikosh India Private Limited and Alok Chaudhary over the Growpital platform, accused of acting as a conduit in a scheme that took investor money on promises of assured tax-free returns. Each paid Rs 40,56,000, neither admitting nor denying the allegations.
The record
| Agency | SEBI (India) |
|---|---|
| Date filed | 2026-09-28 |
| Date resolved | 2026-09-28 |
| Court | Securities and Exchange Board of India |
| Status | settled |
| Asset class | other |
| Instruments | unregistered collective investment scheme |
| Criminal parallel | No |
| Defendants | Nutrikosh India Private Limited ; Alok Chaudhary |
| Techniques |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
- Penalty as published
- 8.1m INR
What is alleged to have happened
The settlement order of 28 September 2026 was passed by a SEBI whole time member in the matter of the Growpital platform. The applicants are Nutrikosh India Private Limited and Alok Chaudhary.
The background is a SEBI ex-parte interim order of 29 January 2024 against eight other noticees alleged to have raised about Rs 192.88 crore from the public through an unregistered collective investment scheme, confirmed on 26 April 2024. The applicants were not part of that interim order. After a detailed investigation, a show cause notice of 3 March 2025 went to 30 noticees including the applicants.
SEBI alleged in the notice that Nutrikosh aided and abetted its co-noticees and acted as a conduit for about Rs 7.03 crore. The scheme was said to collect funds from investors with promises of assured tax-free returns, then use the money both to show fake revenues that would lure more investors and to buy assets in the noticees' own names. On that basis the applicants were said to have breached section 12A(a), (b) and (c) of the SEBI Act and Regulations 3 and 4(1) of the PFUTP Regulations. These were allegations; the settlement makes no findings.
Both applicants applied to settle in April 2025 without admitting or denying the facts and conclusions of law. The internal committee recommended Rs 40,56,000 per applicant, the High Powered Advisory Committee agreed in March 2026, and the panel of whole time members approved on 26 May 2026. Payment was confirmed in June 2026. The total is therefore Rs 81,12,000, and the order bars SEBI from further enforcement for the alleged violations unless a representation proves untrue, an undertaking is breached, or the terms contained a discrepancy.
The record does not show what happened to the other 28 noticees, how investors fared, or any criminal case.
This library applies no technique tag to the matter, because the order settles allegations about a scheme that took investor money on promises of assured returns, which fits none of the library's techniques with confidence. The tagging is ours, not the regulator's.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the order.
Timeline
- 2026-09-28 SEBI settlement order
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.