Important advisory from NSE

 

Dear Customers, Greetings of the day! In our continuous effort to keep you safeguarded from market-related frauds and increase awareness while conducting trades, we request you to go through the Press Releases issued by NSE and would request you to ensure that you do not engage with the individuals mentioned below :

A person named “Jensmon V George” operating through mobile number “9995103502” is offering to handle the trading account of investors by asking investors to share their user ID and password and providing a dabba/illegal trading platform with assured profit. As per Securities Contract (Regulation) Act (SCRA), 1956, all trades (except spot transactions) must be carried out on a Stock Exchange recognized by SEBI. Any trade carried out otherwise, known as “dabba trading”, is illegal and is punishable under the provisions of Section 406, 420, and Section 120-B of the Indian penal Code. As per section 23(1) of SCRA, any entity/person who contravenes sections 13, 16, 17, or 19 of the SCRA by indulging in dabba trading can be prosecuted. As per section 25 of SCRA, offenses punishable under section 23 are cognizable offenses within the meaning of the Code of Criminal Procedure, 1973 and as such can be investigated by state law enforcement authorities. Further, in addition to being violative of securities laws. dabba trading also falls within the purview of sections 406,420 and section 120 B of the Indian Penal Court,1870.

Investors are cautioned and advised NOT to trade on such illegal trading platforms in Commodity Derivatives Market as the same is prohibited by law. Investors/Clients are cautioned not to subscribe to any scheme or products/arrangements offered by any entities and person, involving assured/guaranteed returns or unauthorized portfolio management/Collective investment schemes. Please note that such arrangements/schemes are not permitted under the SEBI Bye-laws, Rules, and regulations. Accordingly, we would request you be cautious and ensure that you do not engage in any activities with such persons. Assuring service True to You, Always. Team TTIN