The MHB Police in Dahisar have filed a case against three individuals, including a woman from Gujarat, for allegedly selling shares worth ₹16 crore by taking advantage of name similarity. The accused are said to have used forged documents, and the Economics Offenses Wing(EOW) is currently investigating the matter.
A police official said that a case has been registered by the MHB police of Dahisar for selling shares worth Rs 16 crore by taking advantage of the similarity in the name.
According to police sources, in 2017, 54,000 shares of Balkrishna Industries were held under the names of Vanita Gandhi and Sudha Gandhi. These shares were transferred to the Demat account of a woman named Vanita Gandhi from Vadodara, Gujarat. A police officer stated that the shares were moved using forged documents to update the KYC (Know Your Customer) details. A complaint was lodged by Vanita Gandhi's advisor, Vaibhav Joshi, leading to charges of forgery, fraud, and identity theft at the MHB Police Station.
The case has been registered against the fraudulent woman from Vadodara, along with two unidentified employees from a stock trading company and two other firms. The EOW of the Mumbai Police will be handling the investigation.
Preliminary investigations revealed that after updating the KYC through forged documents, all the shares were transferred to the Demat account and subsequently sold. The police are continuing their probe into the matter.