Mumbai Investor Highlights Fund Access Issues
Mumbai-based investor and IVF specialist Dr. Aniruddha Malpani, who also founded Malpani Ventures, recently voiced his frustration over withdrawal restrictions on Zerodha, one of India’s leading online brokerage platforms. Despite having a withdrawable balance exceeding Rs 18 crore, Dr. Malpani claimed that Zerodha blocked his attempt to access his funds, describing the situation as a potential “scam.”
Account Details and Withdrawal Attempt
Dr. Malpani shared screenshots of his Zerodha account showing an overall account value of Rs 42,92,98,198.10, with a used margin of Rs 24,46,44,888.30 and a withdrawable balance of Rs 18,46,53,309.84. He expressed his concerns on X (formerly Twitter), tagging Zerodha co-founder and CEO Nikhil Kamath, stating, “They don’t allow me to withdraw my own money… They use my money for free. This is unfair.”
Zerodha’s Withdrawal Policy Explained
Screenshots from Zerodha’s platform confirmed that the brokerage enforces a daily withdrawal limit of Rs 5 crore. For instant withdrawals, requests must fall between Rs 100 and Rs 2 lakh per day. The company also clarified that withdrawals depend on the available balance in the trading account.
Company Response and Resolution
Zerodha’s support team responded to Dr. Malpani, advising that requests exceeding Rs 5 crore could be processed by submitting a support ticket through the official portal. After Dr. Malpani confirmed that he had already raised the ticket, Zerodha assured him that the issue was under review.
Nithin Kamath Clarifies the Policy
Zerodha co-founder Nithin Kamath later confirmed that Dr. Malpani’s payout requests had been processed. He emphasized that the Rs 5 crore limit is a standard operational safeguard designed to prevent systemic risks. Kamath explained, “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.”
Industry Perspective on Withdrawal Limits
Ajay Rotti, Founder & CEO of Tax Compaas, defended Zerodha’s withdrawal policy as a necessary precaution rather than a scam. Rotti pointed out that similar limits exist across banks and UPI systems to prevent unauthorized or risky transactions. He advised customers to plan their transactions or utilize official processes to increase limits when necessary, emphasizing that calling every restriction a scam is misleading.
Understanding Zerodha’s Withdrawal Rules
Currently, Zerodha permits withdrawals of up to Rs 5 crore per day, with instant withdrawals limited to Rs 2 lakh between 9 am and 4 pm. These rules are tied to the user’s available trading account balance, ensuring both operational safety and compliance with standard financial practices.
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