Dear Member,
Please find below advisory from NSE which reads as follows for your reference and compliance, if any, please:
Dear All,
It has been brought to the notice of the Exchange that,
- person named “Manhar Jain” operating through applications named “Trade with Trust”, “Touch Wood Trader Pro” and mobile number “9090094343” is providing stocks tips and dabba/illegal trading platform to the investors.
- person named “Vivek Sharma” is falsely claiming to be associated with an entity named “Choice India Brokerage Company” and operating through mobile number “8889053280”, is providing securities market tips and is offering to handle trading account of investors by asking investors to share their Login ID/password. Investors are requested to take note that Choice Equity Broking Private Limited, a registered trading member of Exchange, has informed NSE that the above-mentioned person is not associated with them in any manner.
Investors are cautioned and advised not to subscribe to any scheme/product offered by any person/entity in the stock market as the same is prohibited by law. It may also be noted that this 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. 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 punishable with imprisonment for a term which may extend to ten years or with the fine up to twenty-five crores or with both. As per Section 25 of SCRA, offences punishable under section 23 are cognizable offences within the meaning of Code of Criminal Procedure,1973 and as such can be investigated by state law enforcement authorities also. In addition to being violative of the securities laws, dabba trading also falls within the purview of Section 406,420 and Section 120-B of Indian Penal Code,1870.
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.
