Overview

• Naresh Malhotra, 78, was held under a month-long virtual confinement from August 4 to September 4 by callers posing as telecom staff and officers of the Mumbai Police, ED and CBI.
• Under threats and secrecy undertakings, he liquidated holdings and moved about Rs 22.9 crore from Kotak Mahindra, HDFC and Central Bank of India accounts into multiple beneficiary accounts.
• An FIR was registered with Delhi Police’s IFSO unit on September 19 after the complaint was filed via the National Cybercrime Reporting Portal.
• Outlets earlier cited freezes of roughly Rs 1.5–2.5 crore, but a Monday police update reported Rs 12.11 crore traced and frozen, with the remainder dispersed across banks and withdrawals.
• Related cases include a Dwarka couple losing ₹6.22 lakh (FIR registered) and the Bengaluru recovery of Rs 14 lakh lost by a Karnataka MP’s wife after swift action via the 1930 helpline and a court-directed refund.