The National Stock Exchange on Wednesday cautioned investors against putting their money in any assured returns scheme offered by four individuals.
The four individuals are Amit Mishra and Shivam Chauhan associated with Go Algo, and Kajal Patel and Alpesh Patel associated with KK Advisories.
They were providing securities market tips for trading and assuring returns on investment in the stock market and also offering to handle the trading account of investors by asking them to share their credentials, NSE said in two separate statements.
According to statements, these persons are not registered either as a member or authorised persons of any registered member of the bourse.
Cautioning the investors, the exchange asked them not to subscribe to any such scheme or product offered by any person or entity offering guaranteed returns in the stock market as the same is prohibited by the law.
The exchange has also provided a facility to investors of 'Know/Locate your Stock Broker' on its website to check the details of the registered member and authorised persons.
"Participation in such prohibited schemes is at investor's own risk, cost and consequences as such schemes are neither approved nor endorsed by the exchange," NSE said.
For any kind of disputes relating to such prohibited schemes, mechanism and investor grievance redressal mechanism administered by the exchange, would not be available to the investors, it added.
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