Mumbai police arrest three over share trading scam; persona "Meera Iyer" and shell firm Grain Garden Delights alleged
PTI reports that Mumbai's South Cyber Police arrested three Nagpur men over an alleged share trading scam that used the name Meera Iyer and a shell firm, Grain Garden Delights Pvt Ltd. The arrests and allegations have not been tested in court.
- First reported
- Reports
- 1
Source: theprint.in · published
What happened
On 4 November 2026, according to a PTI report carried by ThePrint, South Cyber Police in Mumbai arrested three men from Nagpur in connection with an online share trading investment scam. The report says the victim was lured by a person using the name Meera Iyer and associates, who promised high returns on share trading investments and induced to deposit money into various accounts. Police allege the money was routed through a bank account in the name of a shell company, Grain Garden Delights Pvt Ltd.
How the scam works
Investigators named the three arrested men as Amit Diliprao Kale, 34, described as the alleged mastermind, Rithik Shailesh Dhargave, 25, and Aniruddha Satish Uke, 30, all residents of Nagpur. Police allege that Kale and Uke set up Grain Garden Delights Pvt Ltd using Dhargave's credentials and a forged rent agreement to open the current bank account that received the funds. According to police, Kale used a SIM registered in Dhargave's name to communicate with accomplices and coordinate the transfer of the proceeds.
Police said a first information report was registered on 9 September under sections of the Bharatiya Nyaya Sanhita covering cheating, forgery and criminal conspiracy, together with provisions of the Information Technology Act. They said the trio is linked to 73 cases across the country, including six in Mumbai, and that part of the proceeds was traced to an account at the Central Bank of India's Jaripatka branch. During the arrests, police said they seized cheque books and passbooks for 11 accounts, 25 SIM cards, debit cards, QR codes and stamps of 11 shell companies. These are police allegations reported by PTI; the accused have not been convicted, and scammers.com has not independently verified the claims.
Source
PTI report carried by ThePrint, 4 November 2026. Not independently verified by scammers.com.
Red flags
- An approach from a stranger, here using the name Meera Iyer, promising high returns on share trading.
- Instructions to deposit money into several different bank accounts.
- Payments routed through a company account, here an alleged shell firm.
- Accounts and SIMs allegedly opened with forged documents and another person's credentials.
- A scheme police link to dozens of cases across the country.
If you were targeted
- 1Treat unsolicited share trading or investment offers promising high returns as suspicious.
- 2Do not deposit money into personal or company accounts given by someone you met online.
- 3Verify any trading platform or adviser with the market regulator before paying.
- 4If you have paid, report it to the national cybercrime helpline and your bank at once.
- 5Keep chat logs, payment records and account details as evidence.