Caution NSE cautions investors against person collecting money, seeking trading credentials
Mumbai/IBNS: The National Stock Exchange (NSE) has cautioned investors against a person who is allegedly trying to extract trading account credentials from investors by offering to help them in stock market trading.
“It has been brought to the notice of the Exchange that person named Pankaj Sonu associated with an entity named Trading Master operating through the mobile number “9306132815”, is collecting funds from the public for trading in the securities market and providing assured/guaranteed returns on investment in the stock market,” NSE said in a media statement.
“He is also offering to handle trading account of investors by asking investors to share their user ID and password,” it added.
The investors are cautioned and advised not to subscribe to any such scheme/product offered by any entity/person offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law, NSE said.
Further, investors are advised not to share their trading credentials such as user id/password with anyone, the exchange cautioned the investors.
“It may also be noted that the said person/entity is not registered either as a member or authorised person of any registered member of the National Stock Exchange of India Limited,” it said.
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 NSE statement said.
NSE also said that investors will not be able to access its support if any dispute emerges relating to such prohibited schemes.
The persons investing money in such illegal schemes won’t get the benefits of investor protection under NSE jurisdiction and the exchange dispute resolution mechanism will not be accessible to them.
Further, such investors will not be able to approach the investor grievance redressal mechanism administered by NSE if they are defrauded.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
