Police are now trying to ascertain whether any of his colleagues were involved in the illegal trading.

Chakraborty grew suspicious when he could not log on to his account and learnt of the illegal transaction after contacting other top officials of Indiabulls, according to police.

He then filed a complaint at the Bhowanipore police station and the case was later transferred to the detective department.

Daga was Tuesday produced in court, which remanded him to police custody till Aug 18.