Fraud
NSE warns investors against person collecting money providing assured/guaranteed returns
Mumbai: National Stock Exchange (NSE) has cautioned investors against individual, who, it warned, is collecting funds from the public and providing assured/guaranteed returns on investment in stock market.
“It has been brought to the notice of the Exchange that person named 'Nilesh Agrawal' associated with 'Grow Easy investment' operating through mobile number ‘9028925615,’” NSE said in a statement
It may also be noted that the above-mentioned person/entity was associated/registered with a Trading Member (TM) as an Authorized Person (AP) and the said association/registration as an AP was subsequently cancelled by the TM. Trading member has filed police complaint against the authorized person, it 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 is not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited,” said the statement.
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.
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