NSE Raises Red Flags About Unauthorised Stock Agents

Investors are strongly advised not to subscribe to any scheme or product that is offered with promises of indicative, assured, or guaranteed returns. It is crucial to conduct thorough research and due diligence before making any investment decisions, as high returns often come with high risks.

In a warning to the investor community, the National Stock Exchange (NSE) has revealed that Amit Lilhare, an authorized agent of one of its registered brokers, has been offering ‘assured’ and ‘guaranteed’ returns on stock market investments.

Investors are cautioned not to engage with any schemes or products that promise indicative, assured, or guaranteed returns in the stock market, as these activities are prohibited by law.

The NSE is currently undertaking disciplinary measures against the trading member involved.

The advisory from the NSE stated, "The Exchange has been informed that Mr. Amit Lilhare, through various addresses, has been promising guaranteed returns on stock market investments and is collecting commissions for these returns directly into his personal bank accounts."

In addition, the designated bank accounts labeled as client accounts, which are used for receiving and paying money to and from investors, as reported by trading members to the Exchange, are listed under the provided link. Investors are advised to review these details when dealing with any person or entity.

"The Exchange categorically states that participating in such prohibited schemes is at the investors' own risk, cost, and consequences, as these schemes are neither approved nor endorsed by the Exchange," the NSE said in its advisory.

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