Mumbai, Nov 13 (PTI) A 39-year-old businessman was arrested from Bengaluru for allegedly cheating a private company of Rs 36 lakh under the pretext of selling unlisted shares of the National Stock Exchange (NSE), a police official said here on Thursday.

The Borivali police official identified the arrested accused as Rajat Amar Chandra Jain.

"Jain had taken Rs 95 lakh from a private company for the purchase of unlisted NSE shares. Though he returned Rs 59 lakh, he allegedly misappropriated the remaining Rs 36 lakh. The complainant is a Borivali-based stock market consultant who manages share transactions for the said company," he said.

"In May 2025, the company had planned to purchase unlisted NSE shares. During this process, an acquaintance introduced the consultant to Jain, who claimed

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