NSE warns stock investors of a man who is robbing their money with promise of guaranteed returns
1 min read . Updated: 09 Mar 2023, 03:29 PM IST
Premium- NSE cautioned investors and advised them 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.
The National Stock Exchange of India (NSE) has time after time warned capital market traders to not fall prey to exciting offers or promises from unknown entities or a person as chances are they might not be a registered broker. Once again, NSE warned investors to be extra cautious of a certain man who is associated with the entity named “Trading Master". This certain man has been collecting funds from innocent investors by assuring them guaranteed returns.
This fraudster's name is "Pankaj Sonu".
In a statement, NSE said, "it has been brought to the notice of the Exchange that person named “Pankaj Sonu" associated with entity named “Trading Master" operating through mobile number “9306132815", is collecting funds from public for trading in securities market and providing assured/guaranteed returns on investment in stock market."
Further, the exchange said, "he is also offering to handle trading account of investor by asking investors to share their user ID and password."
Following this, NSE cautioned investors and advised them 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.
Also, NSE advised the investors "not to share their trading credentials such as user id/password with anyone."
NSE said, "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."
Also, 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."
Accordingly, NSE stated 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 the Exchange's Jurisdiction
- Exchange dispute resolution mechanism
- Investor grievance redressal mechanism administered by Exchange.