India, May 13 -- IPO-bound invest tech startup Groww has settled a case pertaining to technical glitches with SEBI by paying INR 34.1 Lakh.

The case originated from a technical glitch that Groww's brokerage platform faced on January 23, 2024. In a showcause notice sent to the startup, SEBI alleged that the platform did not publish "full and true disclosure" on time to the exchange on LAMA.

Notably, Log Analytics and Monitoring Application (LAMA) is a framework launched by the SEBI to address "technical glitches" in stockbroker's electronic trading systems.

"Applicant did not have telephone lines, trading terminals, employees for attending trading calls of clients, required during technical glitches, thus resulting in complete denial of...