Summary:
In March 2015, Panchal approached Shah asking him to open a demat and trading account. Vadodara: A retired employee of Gujarat State Fertilizers and Chemicals Limited (GSFC) was cheated of lakhs of rupees by a share broker and his employee, who transferred shares of many companies owned by GSFC employee to her own name.According to Pankaj Shah (67), he used to trade in the capital market through Master Trust, a franchise of Master Capital Services Limited. The franchise was owned by the accused Rajni Panchal and the co-accused Neha Gadge also worked there. In October 2016, Shah asked for his account statement which was given to him, but he became suspicious of Panchal. The shares were owned by Shah and some shares were jointly owned by him and his wife, Pallavi Shah.When Shah wanted to sell his shares, Panchal made excuses and told him he cannot sell his shares..