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 wont 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.
