Bombay High Court Rules Trader Can Keep Profit Made From Broker's Tech Glitch Margin
1 hour agoBusiness
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1 SourcesMumbai, India
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Bombay High Court Rules Trader Can Keep Profit Made From Broker's Tech Glitch Margin

The Bombay High Court ruled that a trader can keep Rs 1.75 crore profit earned in 20 minutes using Rs 40 crore margin money mistakenly provided by Kotak Securities due to a tech glitch. The court stated the trader used his own skill and risk, and Kotak Securities suffered no loss. The broker had claimed the profit, arguing it was earned through their error, but the court deemed this an unjust claim.

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