Rs 12 lakh gone: Delhi CA shares shocking story of engineering student who vanished after app losses

A Chartered Accountant from Delhi has shared a disturbing account that has left many people shaken. In a post on X, CA Nitin Kaushik described how a final-year engineering student in his city allegedly lost ₹12 lakh on a “prediction” app. The amount included his entire education loan and his father’s retirement savings. According to the post shared by Nitin Kaushik, the student has since gone missing from his hostel. He reportedly left behind his phone and a note. The family is now struggling to understand what happened and how things spiralled so quickly.

Loan money, retirement fund and private lenders

In his post, Kaushik wrote: “A final-year engineering student in my city just lost his entire ₹12 lakh education loan and his father's retirement fund on a ‘prediction’ app.”

He further added, “He’s gone missing from his hostel, leaving behind his phone and a note. Now his parents are being harassed by private lenders they didn't even know he borrowed from.”



The situation, as described, has affected the entire family. The student’s sister was supposed to get married next month. That wedding has now been put on hold. As Kaushik stated in his post, “His sister's wedding, which was supposed to happen next month, is now on hold because the family is BROKE.”

He also raised concern about how such apps continue to operate. “Despite the ‘official’ bans, these apps just switch to new UPI IDs and Telegram groups every day to bypass the law,” he wrote.

Online betting ban

The incident comes at a time after last year when in August the government tightened regulations around online money gaming. India’s parliament in August 2025 passed a law to ban online games played with money. The move followed concerns flagged by the government over financial harm linked to such platforms.

The legislation, titled the Promotion and Regulation of Online Gaming Bill 2025, was cleared by both houses of Parliament. It prohibits what it describes as “harmful” online money gaming services, along with advertisements and related financial transactions. According to a report by Reuters, Union IT Minister Ashwini Vaishnaw said in Parliament that it is the duty of the government to act strictly against social evils that keep resurfacing.


The ban unsettled a fast-growing industry. Reuters reported that the sector had attracted major global investors and was projected to reach $3.6 billion in India by 2029.

According to the Press Information Bureau (PIB), the law is meant to protect citizens from predatory platforms that promise quick wealth. It also notes that the World Health Organization recognises gaming disorder as a health condition in its International Classification of Diseases. The condition involves loss of control over gaming and continuation despite harmful consequences.

The bill draws a line between e-sports and educational games on one side, and betting or fantasy money games on the other.