SEBI Bans Gretex Corp for 21 Days Over Regulatory Lapses

Imagine a company that helps other companies raise money from the public, called a merchant banker.

The government's watch agency, SEBI, found that this company, Gretex Corp, didn't follow some important rules.

First, it didn't have enough money saved, which is a rule for these companies.

Second, when it helped a smaller company with its first public offering (IPO), it didn't check things carefully.

Almost half of the money the new company was raising was meant for an office that wasn't even built yet!

SEBI said this was a big mistake and Gretex didn't check or tell people properly.

Because of these mistakes, SEBI has told Gretex that it can't take on any new jobs for 21 days.

This is to make sure they follow the rules better in the future.