₹100 Crore NSE Unlisted Shares Scam Unearthed In Bengaluru, ED Joins Probe
A major fraud involving fake allotment of unlisted NSE shares has surfaced in Bengaluru, with losses likely exceeding ₹100 crore. Businessmen were lured with promises of share transfers through registered firms. Despite payments and completed formalities, no shares were delivered. Police and ED are probing multiple entities and suspects linked to the scam.
₹100 Crore NSE Unlisted Shares Scam Unearthed In Bengaluru, ED Joins Probe | File Pic (Representational Image)
Bengaluru: A massive fraud of duping businessmen and business houses promising allotment of unlisted shares of the National Stock Exchange (NSE) has surfaced in Bengaluru.
While an FIR has been registered at the Highgrounds police station based on a complaint lodged by businessman Rajesh, the police suspect that the entire fraud scam amount may exceed ₹ 100 crore.
The police said that even the Enforcement Directorate (ED) has seized up the matter and they are on the look out for at least two people -- Nisha Kumari of Bengaluru and Satish Kumar from Chennai.
In his complaint, Rajesh, the Managing Director of Hill Green Herbals Private Limited said that Nisha Kumari approached him in 2024, claiming to be associated with the NSE and offering a partnership along with allotment of unlisted shares.
In January 2025, Rajesh entered into a share purchase agreement with Autm Capital Private Limited to buy 1,000 NSE shares at ₹ 1,600 each, amounting to ₹ 16 lakh. Nisha Kumari assured Rajesh that the shares would be transferred within four to six months, after obtaining regulatory approvals. Despite completing KYC formalities and being told that approvals were secured, the shares were neither transferred, nor was the money refunded.
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Stating that the company had approached many businessmen and business houses across Bengaluru and have collected more than ₹ 100 crore as investment, but never returned. All investments were made through the company and the entities involved, including Atum Capital are existing and registered companies. They are registered in SEBI, but not on the Stock Exchange.
The police officers in the HIgh Ground police station said that the issue had come to light way back in June 2025. The Atum Capital itself had lodged a complaint against another company called Supremus Angel of defrauding over 50,00,00 shares valued at ₹ 115 crore. That issue has been taken up by ED and now the investors in Bengaluru have started lodging complaints.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
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