Sebi, the market regulator, issued an interim order barring three online bond platforms on Monday, November 18, ZeeBusiness reported. These online bond platforms were not registered with any regulator.

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These companies include AI Growth Private Limited, Purple Petal Investment Limited, and Berkelium Technologies Private Limited.

Following this, all of these firms will be unable to sell any fresh issues or offers for sale (OFS) on their platform. They were selling private placement offerings to individual investors through their platform.

According to their websites, AI Growth builds and manages end-to-end financial technology platforms that facilitate consumer participation in fixed-income investments while Purple Petal is an asset leasing platform where one can invest in assets leased to corporates. Berkelium Technologies also provides financial services.

Earlier, Sebi had restrained Axis Capital from taking up new assignments as a merchant banker for debt securities until further notice, in a case of providing guarantees for the redemption of Non-Convertible Debentures (NCDs) of Sojo Infotel.

Previously, the market regulator had barred SecUR Credentials and managing director Rahul Belwalkar from the securities market until further orders for alleged fund diversion.