NSE cautions investors against assured returns scheme by 2 individuals

The National Stock Exchange (NSE) on Wednesday cautioned investors not to put their money in any assured returns scheme offered by two individuals.

The two individuals are: Riya Sharma, associated with Share Expert Tips; and Himanshu Thakkar, associated with New York live trade.

They (Riya and Himanshu) were providing securities market tips for trading and assuring returns on investment in stock market and also offering to handle the trading account of investors by asking them to share their credentials, the NSE said in two separate statements.

According to the statements, these persons are not registered either as a member or authorised persons of any registered member of the NSE.

Cautioning the investors, NSE 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 law.

The bourse 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 its authorised persons.

"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 said.

For any kind of disputes relating to such prohibited schemes, mechanisms such as benefits of investor protection under the exchange's jurisdiction, exchange dispute resolution mechanism and investor grievance redressal mechanism administered by the exchange, would not be available to investors, it added.