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India Infoline director arrested on fraud charges

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CIOL Bureau
New Update

MUMBAI, INDIA: A director of India Infoline Ltd, a stock brokerage firm, was today arrested for allegedly cheating a woman. The accused is identified as Mani Venkataraman, the executive director of the company.

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Venkataraman was held from suburban Bandra, said a PTI report quoting Additional Police Commissioner Amitabh Gupta.

However, India Infoline said the allegation made against its director was baseless and was purely on false and frivolous grounds with intent to extort money.

The brokerage firm said in a statement that its executive director, Venkataraman was called upon by the Bandra police for recording his statement in the matter of one its clients, Aarti Gunjikar.

Gunjikar had initially made a complaint to the company in February 2008, alleging unauthorized trading in her account. Afterwards, she filed an arbitration case against the company before the National Stock Exchange, the report said quoting India Infoline.

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