The Enforcement Directorate (ED) has conducted searches at eight locations in Mumbai and Chennai as part of a money-laundering investigation into an alleged investment fraud involving unlisted shares of National Stock Exchange of India (NSE).
The searches were carried out on February 27, 2026, by the agency’s Headquarters Investigation Unit under provisions of the Prevention of Money Laundering Act (PMLA).
Firms and individuals under investigation
The enforcement action targeted several companies and intermediaries allegedly involved in the scheme, including:
- Atum Capital Pvt Ltd
- Optimus Financial Solutions Pvt Ltd
- Babli Investment Pvt Ltd
- Supremus Angel
Investigators are also examining the role of individuals such as Satish Kumar, Sanjay Damani, Neeraj Nisar, Krish Vohra, Manish Soni, and Nisha Kumari.
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Alleged fraud involving NSE unlisted shares
According to the ED, the accused allegedly lured investors by offering to sell unlisted shares of NSE, claiming they already held such shares and could transfer them to investors through private agreements.
However, investigators found that the entities did not actually possess the NSE shares they claimed to be selling, suggesting the scheme may have been fraudulent.
The suspects reportedly collected large advance payments from investors, promising allocation of these high-demand shares at a premium price.
Why NSE unlisted shares attract investors
Interest in NSE’s unlisted shares has surged in recent years due to expectations that the exchange could eventually launch an initial public offering (IPO). This demand has created a private market for pre-IPO shares, which authorities say may also attract fraudulent schemes.
Investigation underway
The ED is now examining financial transactions, bank accounts, and agreements related to the alleged scheme to determine whether investor funds were diverted or laundered through multiple entities.
The investigation is ongoing, and further enforcement action may follow depending on the findings.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
