Uday Kotak warns of fake investment scheme being run in his name, says, 'I have nothing to do with this'

In a recent social media buzz, a user named Pranjal K Sarma raised netizens' eyebrows with a post on X.

In a post on X, The user shared a screenshot of what appeared to be an article from 'The Indian Express.' The headline was a real attention-grabber, claiming that billionaire Uday Kotak was behind a new investment platform "available to all Indians," promising passive daily income for those who jump on board.

Pranjal's disbelief was palpable in his comment alongside the screenshot, expressing concern over the government's ability to protect its citizens from what he suggested were schemes preying on the unsuspecting public. 

"It seems the government is simply helpless to save Indians from these crooks cheating the gullible masses," he wrote while tagging multiple PMOIndia, Ministry of Electronics & IT, Narendra Modi, Amit Shah, and the Ministry of Finance.

@udaykotak @KotakKatha @IndianExpress Sir, it seems GoI is simply helpless to save Indians from these crooks cheating gullible masses, Or, all of you like, @PMOIndia @GoI_MeitY @NandanNilekani @Infosys_nmurthy etc are involved in this conspiracy!! @AmitShah @narendramodi… pic.twitter.com/ft3xw6ww4D

— Pranjal K Sarma (@PranjalKSarma) February 16, 2024

Uday Kotak response

However, the plot thickened when Uday Kotak himself entered the conversation. The founder of Kotak Mahindra Bank took to the same platform to set the record straight. In response, Kotak debunked the article as a complete fabrication. 

"This article, supposedly in The Indian Express, is fake. I have nothing to do with the scheme or platform," he clarified.

This article supposedly in the Indian Express is a fake. I have nothing to do with the scheme or platform.

— Uday Kotak (@udaykotak) February 16, 2024

"Exactly Sir, same is happening with Narayan Moorthy, Nilekani Sirs also, but none of you have filed cases against the concerned newspaper or the fraud betting apps using you people's name, photo,voice, videos, comments etc & @Rajeev_GoI @AshwiniVaishnaw etc are simply helpless!!!" the user wrote in response to Uday Kotak's clarification. 

What did 'The Indian Express' say?

Besides Uday Kota, The Indian Express X handle replied to Pranjal's post. "Beware of fake pages trying to pass off as The Indian Express," the publication wrote. 

Beware of fake pages trying to pass off as The Indian Expresshttps://t.co/RMMiS6DN2s

— The Indian Express (@IndianExpress) February 16, 2024