Nearly 30 investors allege ₹100 crore Stockal losses
In short
Nearly 30 Indian investors say their US stock holdings were sold without permission, leading to losses of about ₹100 crore.
A Mint Money summary says the money was then allegedly moved into a few thinly traded Chinese stocks. The case raises concerns about who controlled the accounts and where the funds went.
What the reporting says
Nearly 30 Indian investors have alleged that their US stock holdings were sold without authorisation, causing losses of about ₹100 crore. A Mint Money summary says questions remain over how the accounts were accessed and who approved the bulk liquidation. It also says the proceeds were allegedly moved into concentrated positions in thinly traded Chinese securities, raising fresh concerns over investor account control and fund movement.
Why it matters
Nearly 30 Indian investors have alleged that their US stock holdings were liquidated without authorisation, with losses put at about ₹100 crore. The Mint Money summary says it is unclear how the accounts were accessed or who approved the sale, and says the proceeds were allegedly channelled into concentrated positions in thinly traded Chinese securities. The reported dispute centres on control of investor accounts and the handling of funds.