A IVF Specialist Accuses Zerodha of running a scam after he claimed he could not withdraw more than Rs 5 crore from his demat account. According to his post, Dr. Aniruddha Malpani had Rs 18 crore available for withdrawal.
Dr. Malpani, an IVF specialist and angel investor, shared screenshots of his Zerodha account on X, formerly known as Twitter. The images showed a total account value of Rs 42.9 crore, a used margin of about Rs 24.46 crore tied up in trades, and a withdrawable balance of Rs 18.46 crore. He claimed the platform prevented him from withdrawing more than Rs 5 crore in one day.
IVF Specialist Accuses Zerodha for scam of 5 crore
In his post, Dr. Malpani said, “The Zerodha scam! They don’t allow me to withdraw my own money from their account, saying the daily limit for withdrawal is Rs 5 crores. They use my money for free!” He also tagged Zerodha co-founder Nikhil Kamath, seeking an explanation.
A screenshot from the Zerodha app shared by Dr. Malpani indicated, “A maximum of Rs 5 crores withdrawn per day. For instant withdrawals, the request must be between Rs 100 and Rs 2,00,000 per day. The withdrawal limit depends on the available withdrawable balance in the trading account.”
Zerodha Co-founder Replies
Nikhil Kamath responded after IVF Specialist Accuses Zerodha and clarified that his payout requests processed. “Hi Dr. Malpani, your payout requests were processed yesterday. We need to ensure, for our systems’ stability, that we have some checks in place when clients withdraw funds.
As you can imagine, various issues can arise during the withdrawal process, and once funds paid out, there is no way for us to recover them. Hence, Rs 5 crore is the limit at which we ask customers to create tickets to withdraw,” Kamath explained.
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