Who Is Aniruddha Malpani? The Mumbai Investor Who Was Unable To Withdraw ₹5 Crore

Last Updated:November 04, 2025, 6:11 PM IST

While Dr Aniruddha Malpani’s payout requests were processed after the requisite checks as per firm’s rules, many doubted the amount shown in his account and some even gave advice

A Mumbai-based investor’s post on X, blaming an online brokerage firm for not allowing to withdraw more than Rs 5 crore from his demat account, became the topic of an online debate.

As per the post, Dr Aniruddha Malpani had Rs 18 crore in his withdrawable balance. While his payout requests were processed after the requisite checks as per the firm’s rules, many doubted the massive amount shown in his account.

Some even warned him against publicly revealing such sensitive financial details.

They use my money for free: Investor

Dr Malpani, who is an IVF specialist and an angel investor, shared screenshots of his account on X (formerly Twitter). The images showed a total account value of Rs 42.9 crore, a used margin of about Rs 24.46 crore locked in trades and a withdrawable balance of Rs 18.46 crore. He alleged that the platform restricted him from withdrawing more than Rs 5 crore in a single day.

In his post, Dr Malpani wrote, “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!” He also tagged Zerodha co-founder Nikhil Kamath, demanding an explanation.

A screenshot from the firm’s app shared by Dr Malpani stated, “A maximum of Rs 5 crores can be withdrawn per day.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.”

What online brokerage firm said

Zerodha co-founder Nithin Kamath soon replied to Dr Malpani’s post and clarified that his payout requests had 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,” Kamath explained.

Internet gives him advice

Soon after, the post became the centre of an online debate. Some users doubted the massive amount shown in his account, while others warned him against publicly revealing such sensitive financial details.

A user commented, “Why keep Rs 18 crore in the account? I mean it is after all a discount broker. You have enough courage to trust a discount broker with all that money. I understand it is mainly for FnO. Isn’t it much better it is done with a full-service brokerage where bank account and broker are same. Hope you consider keeping such financial details private for your own safety.”

Dr Malpani replied, “No – I don’t do any F&O – I don’t understand it. I sold shares, and I want to withdraw my money so I can deploy it for funding more social impact initiatives.”

Another person wrote, “Hope you consider keeping such financial details private for your own safety,” while someone else added, “For your own benefit, please do not disclose such amounts openly. You will have a field day with all kinds of mischief that exists.”

Even as the discussion continued, several users also used humorous tone. A person said, “My first thought is going to be itne paise hote hi nhi hai (My first thought is – ‘How does anyone even have that much money?),” while another joked, “These are the type of problems that I need in life.”

Checks needed: Industry Expert

Meanwhile, Ajay Rotti, Founder and CEO of Tax Compass, said, “I would rather deal with a broker who has controls like these and prevents actual scams of someone cleaning up my account in a day!! There is a way to increase this limit. But, NO… everything single thing has to be called a ‘scam’!!!”

Rotti further explained that banks and online payment systems have similar daily limits for security reasons. “There is a reason why banks also have limits of per day transfer to beneficiaries… UPI limit per day. All to ensure there is no wrongful withdrawal done in a single transaction. People need to be aware of these limits and plan their transactions if they want to do it online,” he said. He also noted that customers have the option to raise such limits.

Who Is Dr Aniruddha Malpani?

Dr Aniruddha Malpani, a Mumbai-based IVF specialist, entrepreneur and angel investor, has built a career that expands to both healthcare and the startup system. His journey began in 1991 when he established the Malpani Infertility Clinic.

As per the market intelligence platform Tracxn, Dr Malpani has a diverse portfolio as he has invested in over 30 companies across sectors such as enterprise technology, healthcare and many startups. His most recent investment was in Nexxio during its seed round in January this year. Apart from his investments, Dr Malpani continues to serve as a board member at Malpani Infertility Clinic.

Buzz Staff

A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.

A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.

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