Caution for investors from NSE: FRAUD ALERT! This person is collecting funds from public - Know name, mobile number

NSE says that it has been brought to the notice of the Exchange that person named “Jay Prakash” operating through mobile number “9321677629”, is collecting funds from the public and providing assured/guaranteed returns on investment.

"He is also offering to handle trading account of investor by asking investors to share their user ID and password."

National Stock Exchange of India (NSE) has issued a statement titled 'Caution for Investors'. NSE says that it has been brought to the notice of the Exchange that person named “Jay Prakash” operating through mobile number “9321677629”, is collecting funds from the public and providing assured/guaranteed returns on investment.

"He is also offering to handle trading account of investor by asking investors to share their user ID and password. Investors are cautioned and advised not to subscribe to any such scheme/ product offered by any 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 and password with anyone. It may also be noted that the said person is not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited," the Stock Exchange added.

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Participation in such prohibited schemes is at investors' own risk, cost and consequences as such schemes are neither approved nor endorsed by the Exchange, says NSE.

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.

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