Commissionerate Police Jalandhar cracks down on Illegal Dabba Trading

Jalandhar (The Uttam Hindu): In a major crackdown, the Commissionerate Police in Jalandhar has successfully dismantled an international illegal "Dabba Trading" operation, leading to the arrest of five individuals. The police also seized over INR 22.5 lakh in cash, along with critical trading materials such as NSE and MCX certificates, mobile phones, and electronic equipment.

The operation, carried out under the leadership of Jalandhar Police Commissioner, IPS Sh. Swapan Sharma, it came to light after intelligence gathered by the CIA staff pointed to illegal trading activities being conducted under the name "SAI Share Broker." Dabba trading is an illicit form of stock trading where transactions are not executed through authorized exchanges but settled internally by operators, bypassing legal channels and regulatory oversight. On November 8, 2024, acting on a tip-off, the Commissionerate Police filed an FIR (No. 146/24) at PS Division 1 in Jalandhar, accusing the individuals under various provisions of the Securities Contracts (Regulation) Act, 1956, along with sections of the IT Act.

The individuals arrested in connection with the illegal trading operation are Jatish Arora (alias Gori), the operator of "SAI Share Broker" and the primary mastermind behind the unlawful trading scheme. Karan Dogra (alias Karan), initially a tailor, worked the night shift at the operation. Anil Anand (alias Monu) managed the day shift alongside Arora. Darpan Seth (alias Rinku Seth) collected funds from clients but failed to make legitimate investments in the stock market, instead keeping a portion of the returns as profit. Tarun Bhardwaj (alias Kannu) was responsible for opening client accounts and also worked the night shift, playing an essential role in the operation. The police are also searching for Gurdyal Singh (alias Raju), who played a crucial role in facilitating the illegal trading by installing APK files on clients' phones, allowing them to carry out unregulated trades.

In the course of the investigation, the police seized INR 22.5 lakh in cash, 14 mobile phones, NSE & MCX certificates, Electronics including Lenovo All-in-One Computer, AOC monitor, UPS, CPU, keyboard, and several laptops The accused in the operation include Jatish Arora, who, after learning about the stock market in 2019, founded the "SAI Share Broker" business and used the Angel Broking app to facilitate unregulated trades, while also offering stock tips to clients. Karan Dogra, a tailor by profession, joined the racket after gaining stock market knowledge and worked the night shift at "SAI Share Broker." Anil Anand, a key operator during the day shift, assisted Arora in managing client interactions and overseeing operations. Darpan Seth accepted money from clients but failed to invest it in legitimate markets, instead distributing only a fraction of the returns as profit. Tarun Bhardwaj handled account openings and worked the night shift, playing a crucial role in the operation’s functioning.

The police are actively pursuing the remaining accused and expanding the investigation to uncover the full extent of the illegal trading racket. Authorities are also investigating the involvement of other entities or individuals in this international network. The seizure of evidence and the arrests mark a significant step in curbing illegal trading activities in the region.