Regulatory whip for scheme offering high returns in a short span of time

Delhi-based brokers under regulatory glare for drawing investors through ads promising unrealistic returns

The Securities and Exchange Board of India (Sebi) has started cracking down on a fraud scheme promising unreasonable returns from the stock market in a short span of time.

The move comes after dozens of investors complained to the regulator at its New Delhi office against a scheme promising high returns.

Calling it a business offer, scrupulous entities lured investors through advertisements in local and national dailies in New Delhi. “Invest Rs 12 lakh, earn Rs 3 lakh weekly approximately,” the ad claimed.

“Open online trading account and deposit money in your own name with any NSE