NSE Issues Cautions Against Authorised Stock Agents

In a caution to the investors community, the National Stock Exchange said that Amit Lilhare, who is an authorised person of one of its registered stock brokers, is providing ‘assured’ and ‘guaranteed’ returns on stock market investment.

The investors are cautioned and advised not to subscribe to any such scheme or product offered by any person or entity offering indicative, assured, guaranteed returns in the stock market as the same is prohibited by law.

The exchange is in the process of taking disciplinary action against the trading member.

"It has been brought to the notice of the Exchange that Mr Amit Lilhare, operating through various addresses, is providing guaranteed returns on investment in the stock market and is also collecting a commission on such guaranteed returns from investors in his personal bank accounts," NSE's advisory read.

Further, the designated bank accounts named as client bank accounts to receive/pay money from/to investors as disclosed by the trading members to Exchange are also displayed under the said link. Investors are advised to check the details while dealing with any person/entity.

"Participation in such prohibited schemes is at investors' own risk, cost, and consequences as such schemes are neither approved nor endorsed by the Exchange," NSE categorically said in its cautionary advice. (ANI)