Ahmedabad: City based businesswoman Ruzan Khambatta has filed a complaint in the crime branch police station of the city over Rs. 74 lakh loses in stocks and accused Mumbai based A2K enterprise, its partner Priti Biju and Mukesh Arora along with unidentified persons of cheating.

As per a complaint filed by her, Ruzan Khambatta had in January this year spotted A2k Enterprises on the micro blogging platform ‘Twitter’ and read that the company was registered since 1994. She then contacted the company through twitter’s direct message service and later exchanged phone numbers. A2K then added her to their Whatsapp group and through which there was communication between them.

The accused in February this year informed Khambatta that they were staying at Binori hotel in Thaltej in Ahmedabad. Khambatta decided to meet them at Caffe Coffee Day outlet in Panchvati area. The accused identified themselves at Preeti Biju and Mukesh Arora and as per Khambatta’s complaint “claimed that they were SEBI approved research analysts”. Khambatta has in her complaint stated that the accused also “showed NIS (National Institute of Securities Markets) certificates and asked Khambatta for money to invest in dabba trading”. However Khambatta insisted trading only through demat account.

Later Khambatta asked her broker Khandwala to allow Preet Biju to trade in her(Khambatta’s) demat account on her behalf. After some time on insistence of the accused, Khambatta opened her demat account in Nuvama wealth and investment ltd and passed on user ID and password. Khambatta would forward OTP to Preeti Biju’s email account for login whenever required. Preeti and Arora would do stock trading through Khambatta’s Nuvama demat account. Due to continuous loses, Khambatta asked the accused to stop trading. In-total Khambatta suffered Rs. 40 lakh loses from her demat account with Khandwala and Rs. 34 lakh from her demat account with Nova.

Khambatta in her complaint stated that later when she checked with Sebi website, she got to know that the accused were not certified research analysts.

Police have booked accused under IPC sections 409, 420, 465, 468, 471, 120B. DeshGujarat

🗃️ This story is from our archives and may contain outdated information.