NSE cautions investors against fraudulent fund collectors for trading in securities market

The National Stock Exchange has issued a warning against certain fraudulent entities that are collecting funds from public for trading in securities market and providing assured/guaranteed returns on investment in stock market. The message is particularly for investors, who are cautioned and advised not to subscribe to any such scheme/product offered.

The following is the message:

It has been brought to the notice of the Exchange that person named “Nasir Khan” operating through mobile number “9057649297” and telegram channel “Guru paid channel” is collecting funds from public for trading in securities market and providing assured/guaranteed returns on investment in stock market.

The investors are cautioned and advised not to subscribe to any such scheme/product offered by any person offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law. It may also be noted that the said person is not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited.

Exchange has provided a facility of “Know/Locate your Stock Broker” under the link https://www.nseindia.com/invest/find-a-stock-broker  on its website, to check the details of the registered member and its Authorised Persons. Further, the designated bank accounts named as client bank accounts to receive/pay money from/to investors as disclosed by the trading members to Exchange are also displayed under the said link. Investors are advised to check the details while dealing with any entity.

Participation in such prohibited schemes is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by the Exchange.

The investors may note that for any kind of disputes relating to such prohibited schemes none of the following recourses will be available to investors:

1.         Benefits of investor protection under Exchange’s Jurisdiction

2.         Exchange dispute resolution mechanism

3.         Investor grievance redressal mechanism administered by Exchange

Investors are advised to take note of the above.