A post by Mumbai investor Dr. Aniruddha Malpani has ignited discussions across trading forums after he claimed Zerodha prevented him from withdrawing ₹5 crore from his account, despite showing over Rs 18 crore as withdrawable balance. The post, shared on X, included screenshots of his dashboard and quickly gained traction among investors and financial influencers.
Investor Alleges Restriction on Withdrawals
Dr. Malpani’s screenshots showed his Zerodha account with a total value of Rs 42.92 crore, including Rs 24.46 crore as margin and ₹18.46 crore listed as withdrawable funds. However, he alleged the platform capped daily withdrawals at Rs 5 crore.
He wrote, “The Zerodha scam! They don’t allow me to withdraw my own money from their account, saying the daily limit for withdrawal is Rs 5 crores. They use my money for free!”
The screenshot also included a note from Zerodha stating, “A maximum of Rs 5 crores can be withdrawn per day. For instant withdrawals, the request must be between Rs 100 and Rs 2,00,000 per day. The withdrawal limit is subject to the availability of withdrawable balance in the trading account.”
Zerodha Co-founder Clarifies Policy
Responding to the viral post, Zerodha co-founder Nithin Kamath addressed the issue on social media, confirming that Dr. Malpani’s payout requests had already been processed.
“Hi Dr, your payout requests were processed yesterday. We need to ensure, for the sake of our systems’ sanity (like all other financial services firms), that we have some checks in place when clients withdraw funds. As you can imagine, numerous potential issues can arise during the withdrawal process, and once funds are paid out, there is no way for us to recover them. Hence, Rs 5 crore is the threshold at which we ask customers to create tickets to withdraw.”