NSE issues alert against entities offering dabba trading, investment tips via Telegram channel and Instagram
The NSE announced it has been informed about an individual named 'Aditya' who is linked to entities known as 'Bear&Bull PLATFORM' and 'Easy Trade,' which are allegedly providing illegal trading services. In response, a police complaint has been filed, according to an NSE release.
India’s largest stock exchange has warned investors against a person and entities providing trading services via dabba/illegal trading. The exchange has also cautioned investors against an handle and a which have been found offering investment tips.NSE said it has been apprised of a person named 'Aditya' who is associated with entities called 'Bear&Bull PLATFORM' and 'Easy Trade' and providing dabba/illegal trading services. A police complaint has been lodged in this regard, an NSE release said.
"It may also be noted that this person is not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited," NSE statement said, cautioning investors not to subscribe to any such scheme/product offered by any person in the stock market as the same is prohibited by law.
NSE release also shared mobile numbers “8485855849 and 9624495573” through which this person was operating.
"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," the statement said further.
In addition to being violative of the securities laws, also falls within the purview of Section 406,420 and Section 120-B of Indian Penal Code,1870, the statement said.
Another release also warned investors against an Instagram handle named 'bse_nse_latest' and telegram channel 'BHARAT TARDING YATRA', both of which are providing securities market tips for trading and offering to handle trading accounts of investors.
Exchange has provided a facility of 'Know/Locate your Stock Broker' under the link on its website, to check the details of the registered member and its authorized persons.
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Source: Stocks-Markets-Economic Times
