A glitch, a quick fortune: How a small-town trader got the better of a D-Street giant
Gajanan Rajguru made ₹1.75 crore in less than two hours by taking advantage of a technical glitch that credited excess margin money to his trading account. The broker, Kotak Securities, wanted to have it. But the courts ruled otherwise
“A leaves a cow in the custody of B to be taken care of. The cow has a calf. B is bound to deliver the calf as well as the cow to A.”
This example, pointing to the provision under Section 163 of the Contract Act which underlines the responsibility of a bailee, was invoked while challenging an ₹2 crore arbitral award won by a little-known trader Gajanan Rajguru against Kotak Securities.
This example, pointing to the provision under Section 163 of the Contract Act which underlines the responsibility of a bailee, was invoked while challenging an ₹2 crore arbitral award won by a little-known trader Gajanan Rajguru against Kotak Securities.