“This is a Zerodha scam.”
That’s the claim made by Mumbai-based doctor and investor Dr. Aniruddha Malpani, who alleged that Zerodha isn’t allowing him to withdraw his own earnings.
Dr. Malpani posted a tweet sharing two screenshots. According to these screenshots, his Zerodha account holds ₹42.92 crore, out of which ₹24.46 crore is invested in trades, and ₹18.46 crore is lying idle, meaning this is the withdrawable balance.
One of his screenshots also shows Zerodha’s withdrawal policy, which states that a maximum of ₹5 crore can be withdrawn in a single day. For instant withdrawal, the request must be between ₹100 and ₹1 lakh.
By sharing these screenshots, Dr. Malpani accused Zerodha of not letting him withdraw ₹5 crore from his withdrawable amount. He called it a scam, saying:
“They are not allowing me to withdraw my own hard-earned money, claiming I can’t take out more than ₹5 crore in a day. They’re using my money for free.”
He even tagged Zerodha’s co-founder Nikhil Kamath in his tweet, demanding an explanation.
Soon after, Nithin Kamath, Zerodha’s other co-founder and Nikhil’s brother, responded to Dr. Malpani’s claims. Nithin clarified:
“Doctor sir, your payout request was already processed yesterday. For the safety and proper functioning of our systems, we perform basic checks whenever a client withdraws funds. Other financial companies also follow similar procedures.”
He added that fund withdrawals can face challenges because once the money is sent, it cannot be reversed. Therefore, for withdrawals above ₹5 crore, clients are asked to raise a support ticket for verification.
Dr. Malpani replied, saying:
“I understand all that. My point is, you’re putting all the burden on the user. But Your system can easily detect large transactions automatically. Your customer service team can also confirm such transactions via email or call. So why should the user go through this hassle?”
Following this exchange between Nithin Kamath and Dr. Malpani, the matter quickly went viral on social media.
Many users shared their opinions:
- One person commented:
“We must understand that systems aren’t designed based on our preferences. When problems arise, we should check the help menu, call customer care, or raise a support ticket. It’s not right to call every small issue a scam.”
- Another user, Ajay Roti, who claims to be a tax lawyer, said:
“This isn’t a scam. I’d prefer brokers who have such security controls in place. At least no one can empty my account in a single day. Yes, there are ways to increase withdrawal limits. But why do people label everything a scam? Even banks have transfer limits, and UPI too, for safety reasons. People should know these limits and plan transactions accordingly.”
- Another user wrote:
“Risk management is important, but freezing client funds under the excuse of daily limits feels excessive. When you can’t access your own money, trust begins to fade — no matter the reason.”
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What do you think?
Is this truly a scam, or simply a security process to protect clients’ funds?
Share your thoughts in the comments section.
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