Shares of Anand Rathi Share and Stock Brokers Limited (ARSSBL) are likely to remain in focus on Wednesday, June 10 after the brokerage disclosed an additional fraud involving off-market transfer of shares amounting to approximately Rs 9.35 crore from a client's demat account. Anand Rathi informed the stock exchanges in a filing that further to their intimation in February, March, and April, the course of ongoing investigation into the FIR filed on March 16, 2026, has been observed.
On Feb, 6, 2026, Anand Rathi reported that certain unknown individuals, allegedly in connivance with employees of Anand Rathi IT Private Ltd, a group company, committed offences including fraud, cheating and fabrication of documents and electronic records. The incident pertains to depository activities and not broking operations. Fraudulent transfers were carried out from the demat account of a Pune-based client, with the estimated impact on the listed entity pegged at around Rs 13 crore
Upon investigation, Anand Rathi informed the stock exchanges on June 10 that it found one additional client who has been defrauded by the accused persons by adopting a modus operandi substantially similar to that described in the FIR currently under investigation by EOW, Pune. The incident has been reported to EOW, Pune, who is currently conducting the investigation in relation to the said FIR.
''It pertains to depository activities (not in broking activities) of the company. The client is currently not aware of the fraudulent off-market transfer of shares. However, the company will proactively inform the client and will take the necessary action,'' said Anand Rathi. Investigation found that the fraudalent off-market transfer of shares worth Rs 9.35 crore was mentioned as 'gift'.
The initia; complaint was filed with Pune Police station and N.M. Joshi Police Station, based on which the FIR was registered by Deccan Police Station, Pune and upon further investigation, it was observed that one additional client has been de-frauded by an off-market transfer of shares from the demat account of the client of the company. ''Further investigation is underway and and necessary corrective actions have been identified and are at various stages of implementation,'' said the broker.
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