Guwahati Stock Broking Firm Shuts Operations; Investors Face Huge Losses

Several investors are staring at huge financial losses after a Guwahati-based stock broking firm suddenly closed operations. People who invested through the firm, gathered outside its Bora Service office to protest on Tuesday.

The firm, DB Stock Broking, had accumulated several thousand clients over the years who invested in the stock markets through it. They allegedly used to invest the client's money through Angel One, a popular platform used to invest in the market.

The company, which started operations in 2018, lured customers promising double returns on their investments. However, individual investors stated facing huge losses. A person mentioned investing Rs 10 lakhs, while another stated their Rs 80 lakhs had been invested.

The name of one individual has surfaced in connection with the matter. Deepankar Barman was the Director of the broking company, informed some of the people who are stood outside its office.

DB Stock Broking reportedly has over 16,000 clients. Apart from Guwahati, they have offices in Nalbari in Assam, and in Hyderabad. Facing massive losses, customers have tried to contact the firm, but to no avail.

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