Kotak Securities: Rs 40 crore in account due to technical glitch..Rs 1.75 crore profit in minutes
- ABC MEDIUM
- ABC LARGE
- ABC EXTRA LARGE
Internet Desk: Technical error Due to (tech glitch) Rs.40 crores came and went in a trader's account. He invested that money in stocks and got a profit of Rs.1.75 crore in 20 minutes. However, Kotak Securities approached the court alleging that the trader made profits with their money deposited in his account. The case has gone viral with the verdict given by the court in this case.
What happened?
In 2022, due to a technical error in Kotak Securities, Rs. 40 crore belonging to Kotak was deposited in the account of a stock trader. By putting this money in trader's stocks, he got a profit of Rs. 1.75 crores in just 20 minutes. Later, Kotak Securities contacted the trader who discovered the error in their system and after some time he returned the Rs 40 crore deposited from Kotak. But Kotak demanded to give them Rs. 1.75 crore profit earned by putting them in stocks along with Rs. 40 crores. As he did not agree to that, both parties approached the Bombay High Court.
- Increased wealth of Rs.4 lakh crore
Recently, the court heard that the money earned from stock trader Kotak Securities was Rs. 1.75 crore profit will belong to him. The court commented that the organization did not suffer any loss due to this.. It was not even money earned unfairly. It has been said that since the trader invests in the stocks at his own risk, the profit also belongs to him. As part of the investigation, Kotak Securities offered the trader Rs 50 lakh if he gave them the amount earned with their money, but he refused.
► Read latest Business Newsand Telugu News► Follow us on Facebook, Twitter, Instagram& Google News. Tags :Published : 03 Jan 2026 11:03 IST
