Overview
Mumbai’s Economic Offences Wing (EOW) has registered a serious fraud case against Atom Capital Pvt Ltd, Supremus Angel broking firm, and associated directors for allegedly deceiving investors of ₹26.5 crore under the guise of purchasing unlisted shares of the National Stock Exchange (NSE)
Who’s Involved
The FIR names eight individuals and entities, including:
Atom Capital Pvt Ltd – Satish Kumar (Director) and Nisha Kumari R.
Supremus Angel – Krish Vora and Manish Soni (Partners)
Optimus Financial Solutions Pvt Ltd – Sanjay Damani and Neeraj Nisar (Directors)
Complainant Vinay Dinanath Tiwari from Malad East and his clients (including the Dhariwal family) transferred funds under assurance of receiving 1.68 lakh unlisted NSE shares
How the Fraud Unfolded
Between January 13–24, 2025, Tiwari’s firm wired ₹16.5 crore to Atom Capital. In a separate transaction, Prakash Dhariwal’s group paid additional funds via Supremus Angel
The accused presented fabricated share-holding statements and KYC documentation indicating ownership of unlisted NSE shares.
Instead of executing the share transfers, funds were routed through Supremus Angel to Optimus Financial, then siphoned for personal use. No shares were delivered
Legal Ramifications
The FIR, lodged at Worli Police Station and now under EOW Unit 6 jurisdiction, lists charges including criminal conspiracy, cheating, misappropriation, criminal breach of trust, and use of forged documents under the Bharatiya Nyaya Sanhita sections 316(5), 318(4), 61(2), and 3(5). The investigation is ongoing.
Broader Context: Escalating Unlisted Venue Frauds
This case echoes other major cases such as Atum Capital’s claim of ₹115 crore fraud involving 500,000 unlisted NSE shares with Supremus Angel which denies the allegations Across the board, there is increasing scrutiny over misrepresented share sales and forged documentation in unlisted markets, echoing previous incidents like the NSEL crisis
Takeaways for Investors
| Risk | Mitigation |
|---|---|
| Unverified share terms | Ensure transparent documentation and secure custodial verification |
| KYC forgery | Independently verify KYC and shareholding statements via reliable platforms |
| Diversion of funds | Use escrow accounts or Delivery vs Payment (DvP) settlement mechanisms |
| Potential for financial loss & legal dispute | Conduct thorough due diligence; seek legal and financial advice |
This ₹26.5 crore defrauding incident is a stark reminder of the systemic vulnerabilities within unlisted share transactions. It underscores the critical need for investors to demand verified custodial arrangements, escrow services, and legal oversight all pillars that RURASH Financials stands by. Our expertise lies in minimizing these risks and ensuring compliance, transparency, and investor protection every step of the way.
Contact us today to explore secure investment solutions and demat facilitation services that shield you from market-side fraud risks.