Archive · 5 Jan 2026
Mumbai Trader Keeps Rs 1.75-Crore Profit from Kotak Securities Glitch
A trader named Gajanan Rajguru in Mumbai got a big surprise when a company called Kotak Securities accidentally put Rs 40 crore in his account.
He quickly used this money to buy and sell stocks and made a profit of Rs 1.75 crore.
The company tried to take back the money, but a court said he could keep it because it wasn't unfair.
The court decided this because Rajguru acted fast and the money was already used in the stock market.
This all happened in 2022, and the court made its decision recently.
A technical glitch at Kotak Securities credited Gajanan Rajguru with Rs 40 crore in 2022.
Rajguru used the margin money within 20 minutes to execute trades and made a Rs 1.75-crore profit.
The Bombay High Court ruled that Rajguru is entitled to keep the profit, stating it does not amount to 'unjust enrichment'.
The court's decision was based on the fact that Rajguru acted quickly and the money was already used in the stock market.
This case highlights the potential financial risks and legal complexities associated with technical glitches in the stock market.
- Who
- Gajanan Rajguru, a Mumbai trader and stock broker
- What
- A technical glitch at Kotak Securities credited Rajguru with Rs 40 crore, which he used to make a Rs 1.75-crore profit
- When
- The incident occurred in 2022, and the Bombay High Court ruled recently
- Where
- Mumbai, India
- Why
- The Bombay High Court ruled that Rajguru is entitled to keep the profit as it does not amount to 'unjust enrichment'
- Trader's Name
- Gajanan Rajguru
- Company Involved
- Kotak Securities
- Amount Credited
- Rs 40 crore
- Profit Made
- Rs 1.75 crore
- Year of Incident
- 2022
- Court's Decision
- Trader can keep the profit
- Reason for Decision
- Not unjust enrichment
- Time Taken to Execute Trades
- About 20 minutes
