Trader Keeps Rs 1.75 Cr Glitch Profit: Bombay HC Rules Against Kotak Securities
Business
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News18•05-01-2026, 11:27
Trader Keeps Rs 1.75 Cr Glitch Profit: Bombay HC Rules Against Kotak Securities
- •Bombay High Court ruled that trader Gajanan Rajguru can keep Rs 1.75 crore profit earned due to a Kotak Securities system glitch.
- •A system error in 2022 mistakenly credited Rs 40 crore margin to Rajguru's account, leading to the profit in 20 minutes.
- •The court rejected Kotak Securities' claim of unjust enrichment, stating the profit resulted from the trader's skill, decisions, and risk, not solely the error.
- •The court noted Kotak Securities suffered no financial loss and cannot reclaim the profit without legal basis.
- •Kotak Securities has challenged the December 2025 verdict; the next hearing is scheduled for February 4, 2026.
Why It Matters: Court upholds trader's skill, allowing retention of glitch-induced profit, boosting market confidence.
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