Paresh Kariya of Anugrah Stock and Broking Arrested by EOW Moneylife Digital Team 0 Paresh Kariya, the founder and director of Anugrah Stock and Broking Pvt Ltd (ASBPL), was arrested last night. The brokerage firm is accused of having cheated investors across the country of hundreds of crores of rupees and multiple FIRs have been filed against the owner and the broking firm. Moneylife was the first to report this in August 2020 as the story of a scam brewing up at Anugrah. Confirming the arrest, a senior official told Moneylife that Mr Kariya would be in custody till 22 January 2021.
Anugrah faces litigation by over 500 investors who have moved the Bombay High Court through multiple cases. Several of these have made SEBI (the Securities and Exchange Board of India), NSE (the National Stock Exchange), NSE Clearing Corporation and Edelweiss Custodial Services party to the litigation. Investors had pleaded for a multi-agency probe into what happened with Anugrah.