New Delhi: The National Stock Exchange (NSE) on Friday cautioned investors against an entity offering guaranteed returns on investment in the stock market.
The statement came after the exchange noticed that an authorised person of its registered stock broker was offering guaranteed returns and was collecting commission on such assured returns from investors.
"It has been brought to the notice of the exchange that Amit Lilhare, authorised person of one of our registered Stock Broker, operating through various addresses (mentioned below) is providing assured/guaranteed returns on investment in the stock market and is also collecting a commission on such assured/guaranteed returns from investors in his personal bank accounts," NSE said in a statement.
The exchange said it is in the process of taking disciplinary actions against the trading member.
Earlier in February, the Securities and Exchange Board of India (Sebi) had cautioned investors against placing money with unregistered entities promising assured or exceptionally high returns on investments.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)