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This is an archive article published on June 29, 2023
3 more held over illegal trading of shares
Unit 11 of the Mumbai crime branch led by inspector Vinayak Chavan, that is probing the case, made the latest arrests from Kandivali, Dahisar and Borivali areas on Tuesday evening, he added.
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He is accused of cheating the government of more than Rs 1.95 crore by not paying various taxes such as the security transaction tax, capital gains tax, stamp duty, SEBI turnover fees and stock exchange turnover revenue.
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3 more held over illegal trading of shares
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THE MUMBAI crime branch arrested three more persons for their alleged involvement in illegal trading of shares, also called “dabba trading” on Tuesday.
The crime branch had earlier arrested the main accused Jatin Mehta (45) in connection with the case on June 20.
An officer said that the three accused were identified as Vijay Gada (28), Vijay Rathod (57) and Hiten Makwana (45).
The trio were produced before the court and remanded to police custody.
An officer said that the accused allegedly used to get commission from the main accused in the case for bringing investors, an official said.
Unit 11 of the Mumbai crime branch led by inspector Vinayak Chavan, that is probing the case, made the latest arrests from Kandivali, Dahisar and Borivali areas on Tuesday evening, he added.
“Dabba trading” denotes illegal share trading outside the purview of recognized stock exchanges.
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Police had said that Mehta’s turnover during the period between March 23 to June 20, 2023, was a whopping Rs 4,672 crore.
He is accused of cheating the government of more than Rs 1.95 crore by not paying various taxes such as the security transaction tax, capital gains tax, stamp duty, SEBI turnover fees and stock exchange turnover revenue.
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