NSE warns investors about people associated with entity Algo Master
Apr 24, 2023
Mumbai (Maharashtra) [India], April 24 : The National Stock Exchange of India (NSE) has warned investors about people associated with an entity -- Algo Master.
In a warning message, the stock exchange said it had been brought to its notice that a person named Veena, associated with an entity named Algo Master, was operating through mobile number '8530550095' and '8530990063'.
The person allegedly provides assured returns on investment in the stock market and offers to handle the trading account of investors by asking them to share their credentials. In addition, two persons -- Ankita Mishra and Vishal -- operating through mobile number '8237576347', were providing assured or guaranteed returns on investment in the stock market.
NSE said that the investors were cautioned and advised 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.
Further, investors are advised not to share their trading credentials such as user ID, passwords with anyone. It may also be noted that the said person or entity is not registered either as a member or authorised person of any registered member of NSE.
NSE cautioned that participation in such prohibited schemes is at investors' own risk, cost and consequences as such schemes are neither approved nor endorsed by the Exchange.
The investors may note that for any kind of disputes relating to such prohibited schemes, none of the recourses like benefits of investor protection under the exchange's jurisdiction or exchange dispute resolution mechanism will be available to investors. NSE said that investors' grievance redressal mechanism administered by the exchange will not also be available to the investors.
