As per the notice issued by National Stock Exchange (NSE) on 2nd May, 2023 the investors are advised and cautioned by the exchange not to subscribe any offer by any person or entity offering guaranteed returns as it’s prohibited by law. Investors are advised not to share their trading credentials.
Exchange provides warning to the investors about a person named “Vishnu Darak” (Mob: – 9326799992) who is providing dabba/illegal trading platform with assured profit. He offers to handle investor’s trading A/C by asking their ID and password.
According to Securities Contracts (Regulation) Act, 1956(SCRA) any person violating sections 13,16,17,or 19 of the SCRA will be prosecuted and shall be convicted with an imprisonment of 10 years or fine of 25 crores or both. None of the below will be available to investors in relation to disputes to such prohibited schemes.
- Benefits of investor protection under Exchanges Jurisdiction
- Exchange dispute resolution mechanism
- Investor grievance redressal mechanism administered by Exchange