Dr. Anirudh Malpani and Nikhil Kamat
When a renowned doctor and investor from Mumbai posted the screenshot of his brokerage account on social media, there was an uproar. The reason was that he had an amount of more than Rs 43 crore in his account and he alleged that the country’s largest brokerage firm, Zerodha, was not allowing him to withdraw his own money. This matter escalated so much that the company’s co-founder Nikhil Kamat himself had to come forward and answer.
Why was Rs 5 crore not withdrawn from the account?
This whole matter started when Mumbai’s famous IVF specialist and angel investor Dr. Anirudh Malpani made a post on the social media platform X (earlier Twitter). He Zerodha Shared screenshots of demat account, which surprised many people. According to the screenshot, there was a total of Rs 42.9 crore in his account. Of this, Rs 24.46 crore was engaged in trade, while Rs 18.46 crore was visible as ‘withdrawable amount’.
The Zerodha scam! 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!@zerodhaonline
This is unfair @nikhilkamathcio pic.twitter.com/QgEborsDxP— Dr Aniruddha Malpani, MD (@malpani) November 3, 2025
Dr. Malpani alleged that when he tried to withdraw Rs 5 crore from this ‘free’ amount, the company stopped him. He termed it as “Zerodha scam”. He wrote angrily, this is my own hard-earned money which they are not allowing me to withdraw, saying that I cannot withdraw more than Rs 5 crore in a day. They are using my money for free. He sought answers by tagging Zerodha co-founder Nikhil Kamat in his post.
Nikhil Kamat replied
As soon as Dr. Malpani’s post went viral, Zerodha co-founder Nikhil Kamat immediately reacted to it. He clarified that Dr. Malpani’s payment has been processed. Along with this, he also explained the reason for this limit of Rs 5 crore.
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 https://t.co/dfrj56Hyxi pic.twitter.com/8hhCW0DRFO
— Nithin Kamath (@Nithin0dha) November 4, 2025
Nikhil Kamat said that this limit is not a scam, but a security measure. He said that this limit has been set to deal with any wrong transaction or fraudulent situation. He said that every financial institution has to keep some limits for the stability of the system and safety of customers. He stressed that once money goes into the wrong account, it is almost impossible to get it back, hence such security rules are necessary.
Who is Dr. Anirudh Malpani?
Dr. Anirudh Malpani is not only a doctor but also a very experienced investor. He established Malpani Infertility Clinic in Mumbai in 1991. Apart from medicine, he is an active angel investor and has invested in more than 30 startups till date. His investments are spread across many different sectors including healthcare, technology. Recently he has invested in a company named Nexxio.