SEBI also found that Gretex did not exercise adequate due diligence while managing the SME public issue of a company. (Photo: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Securities Exchange Board of India on Thursday barred Gretex Corporate Services from taking up new merchant banking assignments for 21 days, citing lapses in maintaining regulatory net worth requirements and inadequate due diligence in a public issue.

The regulator said Gretex failed to maintain the prescribed minimum net worth of Rs 5 crore during the financial year 2019–20, thereby violating merchant bankers' rules.

ALSO READ

SEBI Releases Consultation Paper For Mutual Funds — What Does This Mean For AMCs? Opinion SEBI Releases Consultation Paper For Mutual Funds — What Does This

See Full Page