1. Why isn’t Senthil a partner or director in any of the GHL INDIA companies?
  2. It’s better that Mister Senthil manage the legal fees than hiring any outsider, no? As he has extensive experience
  3. Sleeping partner means not participating in the day to day working of the LLP. It doesn’t mean not asking any questions
  4. If I reinvest and ghl turns into a ponzi scheme after, I am stuck for 2 years without Liquidity. Just one FIR/complaint, and if accounts are frozen, I’m stuck for a long long time 😞😭
  5. All people are not same. If someone’s payment gets delayed and he puts a case. All our business will come to a sudden standstill.
  6. What if ghl disappears or goes bankrupt
  7. Trees don’t grow up to the sky. Will new deals ever stop coming?

  8. SEBI had debarred Tyke invest from advertising it’s private placement csops, ncds on its website and social media. Please ask the legal team and directors to look into this aspect

  9. Why is Dhayalan a designated partner in Giotex AI Blockchain r n d LLP?

To siphon off all our funds using crypto, as there is no escrow account or trustee?

  1. What is sree easan traders pvt ltd
    Dhayalan is the owner there as well
    And Raj Kumar also Same address as ghl. And on Google Maps, it shows as ‘permanantly closed.’ With the same address as ghl Ghl raises invoices on sree easan traders pvt ltd daily
    they are both the buyer and seller? What is the nature of related party transactions between ghl and sree easan traders?

  2. there’s no transparency where the money is coming from. Cashback definitely you are giving back our own money. But after 6 to 8 months, the deal document says you’ll invest in new projects. Where these projects are, their addresses, no one knows, not even you/ There is good chance of money rotation via ponzi like structure accross all the asset companies so that the monthly payments happens on time.

  3. I went through the Debenture Trustees registered with SEBI but couldn’t find Concord in it.
  4. Also if you raise the consideration amount, say ₹12 crores and spend it as shown in the document containing the details, then from where does the monthly payouts come from as the amount in the SPV is already spent on the land acquisition, cleaning and fencing activities?
  5. Do you keep a cash runway for all assets or differently for every asset? What is your targeted cash runway (eg, in multiples of months of interest payment) ?
  6. Could not find Concord trustee in SEBI registered debenture trustees https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=6
  7. What is the registration number of Concord under the Indian Trust Act? I would have asked Prakash, Satish or Balasubramaninan directly but they are unreachable so it seems they don’t want any more clients.
  8. What are the covenants of this debenture arrangement?

For example, when a bond covenant was breached, I got the below email. Will Concord notify me and guard my interests when/if something similar happens with GHL?

Dear Debenture Holder/Investor,

Subject: Notice for breach of covenants and intimation of the meeting of debenture holders (Ugro Capital Limited);

This has reference to periodical compliances submitted by Ugro Capital Limited for the quarter ended on March 2025. In this regard, Statutory auditor in the Security cover cum covenant confirmation certificate dated has reported Breach of Covenant which is as follows: “Except for the covenant of CRAR of 20% stipulated under the transaction documents of public Issuance of NCD (ISIN-INE583007315) having principal o/s. of Rs. 49.28 Crores and due on 28th September 2025 against the actual CRAR of 19.41% as of March 2025. Request of the company for relaxation of the covenant is presently under process” Kindly refer to the deed of hypothecation and security cover certificate ensuring that the assets are sufficient to cover the liabilities owed to the bondholders.

Also see the role of the trustee in ensuring the same.

No such information or work done by Concord is available, the three persons mentioned on their website have no linked in presence, their contact number does not pick up or call back, their contact us email form is broken and returns a 404 Page Not Found error on clicking Submit. These are some serious red flags and causes of great concern.

https://idbitrustee.com/wp-content/uploads/2019/09/Deed-of-Hypothecation_compressed.pdf

https://idbitrustee.com/wp-content/uploads/2019/09/Security-Cover-Certificate.pdf And subsequently a bondholder meeting was held and the bond issuer was given an opportunity to explain his position and for those who couldn’t attend in person, a google meet is scheduled for briefing tomorrow, 23rd May 2025 at 11 am.

  1. How is it private placement when /invest is accessible publicly without logging in?

1,430 investors (maximum) will be required to fill the current sequel that is going on. That is above and over the 200 maximum in private placement. The average investment per person would have to be ₹7.15 lakhs per person for this sequel to be filled by 200 people (minimum). That is over and above the ₹5.6 lakh average investment per person you are currently having.

  1. Ownership status of Registered Addresses: Is the Queen’s court, Egmore, Chennai office premises rented or owned in the name of GHL? Since the primary business is property flipping, does it not behoove GHL to own its office space rather than renting it from someone else? Owning will create investor confidence that GHL is here for the long run and here to stay and not disappear in a downturn which will eventually come.

  2. When will GHL India get its debentures listed and rated by any ratings agency?

  3. Who is Gladen ? Why does she run a help line? How old is she and how is she related to GHL?

  4. Rajkumar said they are planning to expand overseas.. Will it still be called GHL India as you will be investing in TN which is in India or will you call it GHL Singapore? Why not just set up an office in GIFT city instead?
  5. Why is the information in whose name the website is registered masked by Privacy Protect .org? Whose identity are you trying to protect and why? Souce: https://www.whois.com/whois/ghlindia.com
  6. After you mark a ticket as ‘completed’, I am not longer able to view the response you have given. So I request you to send the response here so that I can read it, especially since I did not receive any notification on the website that the query was answered.
  7. How much of my net worth should be invested in GHL?

How much of your net worth is vested in GHL? How much of the owners? Do they “put the money where their mouth is” or “eat their own cooking” by holding the illiquid bonds of GHL?

The interest provided by GHL is above personal loan rates, so there will certainly be 8 to 10% of your assets under management (AUM) coming from people who have used various sources including borrowed money to invest in you. This levered position will disproportionately hurt them in case of delay/default and instead of being content with a settlement, they will seek retribution. This could jeopardize all other investors who chose to continue with you. Isn’t this too great a personal risk for the founders and investors to take?

  1. I cannot see the response you have given to:

ID : GHLST71315 and ID : GHLST55208 Geographical Concentration Risk:

As all of your assets are concentrated in the single state of Tamil nadu, a downtorn in that real estate market will affect all the SPVs. You will get stuck in the illiquidity and take your 1550 investors on a nightmare ride with you. 19 May 2025, at 6.56 am

  1. With so many problematic land schemes in trouble like Agri Gold, Apna Kissan, Zamin pvt ltd, and so on… Why should I trust GHL? How long before ghl turns into one of them, especially as its assets are heavily concentrated in the south of the country where so many land scams have previously happened? Many of these were not scams but genuine business failures/downturns. If regulators get involved, returns go for a toss and sometimes capital is also erroded in forced sales and in terms of time value of money. One commonality between all is the overconfidence of the promoters in their ability to make money .
  2. At this rate it will take until 15th August 2025 for the currently ongoing deal to be completely funded. Will your anonymous ghost buyer willingly wait until then even after paying the earnest money deposit?

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