Caution for Investors – निवेशकों के लिए सावधानी

It has been brought to the notice of the Exchange that a person named providing assured/guaranteed returns on investment in securities market and offering to handle trading account of investors.
1. “Poonam Gupta” associated with an entity named “FS Broking” operating through mobile numbers “9258259208” and “7055155596” and website link “https://fspro.in/trade” is providing securities market tips and dabba/illegal trading services.

2. “Nitin Kumar” operating through mobile number “9983238226” is providing dabba/ illegal trading services along with assured/guaranteed returns on investment in stock market and is offering to handle trading account of investors by asking investors to share their Login ID/password.

3. “Shaikh Abusaad” operating through mobile number “9702069352” is collecting funds from the investors.

Mumbai: Investors are cautioned and advised not to subscribe to any such scheme/product as mentioned herein above offered by any person/entity in the stock market as the same is prohibited by law. Exchange has provided a facility of “Know/Locateyour 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. It may also be noted that the aforementioned person/entity is not registered either as a Member or Authorised Person of any Registered Member of the National Stock Exchange of India Limited. A police complaint has been lodged in this regard.
It is pertinent to note that in terms of Sections 23(1) of Securities Contracts (Regulation) Act, 1956 (SCRA), any entity/person who contravenes Sections 13, 16, 17 or 19 of the SCRA shall be prosecuted and on conviction, he shall be punished with imprisonment for a term which may extend to ten years or with fine up to twenty-five crores or with both. Further, as per Section 25 of SCRA, offences punishable under section 23 of the SCRA are cognizable offences within the meaning of BharatiyaNagarik Suraksha Sanhita, 2023 and as such can be investigated by State law enforcement authorities also. Furthermore, in addition to being violative of the securities law, Dabba trading is also an offence within the purview of Section 316, 318 and Section 61 of Bhartiya Nyaya Sanhita, 2023.
The consolidated list of Press Releases issued by Exchange is available on the NSE website under the link https://www.nseindia.com/ invest/advisory-for-investors”.
Investors are cautioned and advised not to trade on such illegal trading platforms. Participation in such illegal platforms is at the investor’s own risk, cost and consequences as such illegal trading platforms 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.