The accused persons allegedly indulged in illegal share trading, police said. (Representational)
The Mumbai police have arrested a 50-year-old share broker in connection with their ongoing probe into an illegal share trading (dabba trading) case, an official said on Tuesday.
With the latest arrest of a broker from Naigaon in Palghar, the police have nabbed six persons in the case so far, the official said.
The accused persons allegedly indulged in illegal share trading (dabba trading) without an official licence from the stock exchange with the help of an online application, he said.
The main accused Jatin Sureshbhai Mehta, who was arrested last month, allegedly traded shares outside the stock exchange without valid licence and his turnover in the period between March 23 and June 20, 2023 was Rs 4,672 crore, the official said.
Mehta allegedly cheated the government of more than Rs 1.95 crore by not paying security transaction tax, capital gain tax, state government stamp duty tax, SEBI turnover fees and stock exchange turnover revenue, he said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)