Ramesh Sagar, an Ahmedabad citizen started dabbling in the stock market about a year ago and got a Demat account opened up, reportedly with Kotak Securities.
The man has claimed that “”On July 26, 2022, I received Rs 116,77,24,43,277.10 crore in my account, of which I invested Rs two crore in the stock market and booked a profit of Rs five lakh. That very evening around 8 to 8.30 p.m, the bank withdrew the amount.” That he must not be really good at the stock market is evident from the fact that he could make a profit of Rs five lacs only.
Ramesh claims he received a notification from the bank stating: “There is an issue with margin update in the app. you can continue to place orders, but the margin shown will not be updated. We regret the inconvenience and are working on resolving this at the earliest.”
Kotak Securities was not available to comment on the issue but this story went viral after a local radio station reportedly talked about him first.