Mumbai-based investor Dr. Aniruddha Malpani has accused online brokerage firm Zerodha of preventing him from withdrawing ₹5 crore despite a withdrawable balance of over ₹18.46 crore. His account screenshots indicated a total holding of ₹42.93 crore and a used margin of ₹24.46 crore, yet the platform reportedly imposed a daily withdrawal cap of ₹5 crore. In a post on X he described it as a “scam” and claimed the broker was unjustly using his money.
Broker Explains Daily Limit Set for System Sanity
Zerodha responded saying Dr. Malpani’s payout requests had already been processed and clarified that the ₹5 crore daily limit is a built-in safeguard to prevent systemic risk and fraud. Co-founder Nikhil Kamath added that once funds are paid out they cannot be recovered, hence the restriction. The firm invited the investor to raise a support ticket to lift the cap and complete a larger withdrawal.
Debate Over Large Balances with Discount Broker
The incident sparked widespread discussion among traders and analysts about the suitability of parking high funds with discount brokers and standard risk controls in place. Some users defended the limit as a reasonable security precaution, while others criticised the lack of transparency around limits for high-net-worth account holders. The case raises broader questions about investor protections, liquidity of investments, and how digital brokerage platforms balance convenience with safeguards.
