- The 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
- Participation in such prohibited schemes is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by the Exchange
NE BUSINESS BUREAU
MUMBAI, JAN 25
The National Stock Exchange (NSE) on Friday cautioned and advised investors of three alleged social media fraudsters who allegedly promised guaranteed returns to investors in the stock market.
The cautionary statement comes after NSE noticed that three social media fraudsters have been providing securities market tips for trading and assuring returns on investment in stock market.
“It has been brought to the notice of the Exchange that Akash Kumar, operating through mobile number 9050882358, associated with the entity named Gurukripa Finance and a Telegram channel named Gurukripa Finance (link: https://t.me/Gurukripafinance), Nitin Kumar, operating through mobile number 6376631305, and “Saanvi” claiming to be associated with entity named “Stock Tech” operating through mobile number “9886899523” are involved in activities such as providing securities market tips, promising assured/guaranteed returns on stock market investments, and offering to handle trading accounts of investors by asking them to share their Login ID and password,” the statement said.
The investors are cautioned and advised not to subscribe to any such scheme/product offered by any person/entity 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/entity are 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:
- Benefits of investor protection under Exchange’s Jurisdiction
- Exchange dispute resolution mechanism
- Investor grievance redressal mechanism administered by Exchange
Investors are advised to take note of the above.
