Police in Mumbai have arrested a 45-year-old man for illegal dabba trading, a form of share trading outside authorised stock exchanges used primarily to avoid tax payments. Jatin Suresh Mehta, a Kandivali West resident, is alleged to have caused a revenue loss of INR1.95 crore ($291,000) over four months. The police found that Mehta had made share transactions worth INR4,672 crore and that he had no licence or permission to trade shares. The police have seized INR50,000 in cash, five mobile phones, a laptop and other electronic equipment from his office.
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