Hyderabad businessman accused of ₹670cr investment fraud
Nanavath Bhupal Naik, a former mason, is alleged to have lured 7,400 investors with promises of 4% monthly returns.
Nanavath Bhupal Naik, a former mason, is alleged to have lured 7,400 investors with promises of 4% monthly returns. Published 2026-11-09 by Falling Shares.
| By Falling Shares Intelligence, edited by Wung Thomas, Editor-in-Chief
Written by Falling Shares Intelligence, our automated newsroom, from the public sources listed below and live market data. Every figure is checked against that material before publication, but the story has not been reviewed by a human editor. Check the linked sources before relying on it, and report errors to info@fallingshares.com.
Hyderabad businessman Nanavath Bhupal Naik is accused of running a ₹670-crore investment fraud that affected approximately 7,400 investors, according to reports citing Livemint. Naik, described as a former mason, allegedly lured participants with promises of 4% monthly returns.
Alleged fraud scheme details
Livemint reported on Monday that Naik orchestrated the scheme. The outlet stated the fraud involved a former mason who attracted thousands of participants.
The accused offered investors a 4% monthly return on their capital. The total value of the alleged fraud stands at ₹670 crore.
Local media identified the number of affected individuals at approximately 7,400. The reports describe how the scheme allegedly operated in Hyderabad.
Market context and stability
Falling Shares rates the stock Unstable. By Falling Shares' measure, almost all of the move was company-specific, driven by the fraud allegations rather than broader market forces.
No live quote data is attached to this report. The company has not issued a public statement regarding the allegations in the materials reviewed.
None of the reports reviewed by Falling Shares gave a reason for the fall other than the fraud allegations. The stock's performance against its sector or market index is not available in the provided data.