Free shares! NSE IPO DRHP reveals curious case of 5,000 shares landing in wrong demat account (opens original article in a new tab)

The National Stock Exchange and Nuvama Wealth Finance are involved in a legal dispute with Kashmiri Lal Rana over 5,000 shares mistakenly credited to his demat account in 2023, with both civil and criminal cases pending.

• NSE and Nuvama Wealth Finance filed a civil suit against Kashmiri Lal Rana and NSDL over 5,000 shares mistakenly transferred to Rana's demat account in 2023.
• Rana sold 3,685 shares before the error was discovered, and NSE seeks recovery of Rs 1.43 crore and return of remaining shares.
• NSE also filed a criminal complaint against Rana for retaining and selling the shares, with the case pending in Mumbai's police station.