10 January 2024: It has been brought to the notice of the Exchange that persons associated with entity named “Arcoiris Trading Private Limited” operating through mobile number “8918639712” are collecting funds from the public and providing assured/guaranteed returns on investment & unauthorized Portfolio Management Services in stock market. It may also be noted that the above-mentioned person “Subal Sarkar” was associated/registered with a Trading Member (TM) as an Authorized Person (AP) and the said association/registration as an AP was subsequently cancelled by the TM. Trading member has filed a police complaint against the authorized person.
The investors are cautioned and advised not to subscribe to any such scheme/product offered by any persons/entity offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law. It may also be noted that the said persons/entity are not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited. Exchange has provided a facility of “Know/Locate your Stock Broker” under the link https://www.nseindia.com/invest/find-a-stock-broker on its website, to check the details of the registered member and its Authorised Persons. Further, the designated bank accounts named as client bank accounts to receive/pay money from/to investors as disclosed by the trading members to Exchange are also displayed under the said link. Investors are advised to check the details while dealing with any entity.
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 following recourses will be available to investors:
1. Benefits of investor protection under Exchange's Jurisdiction
2. Exchange dispute resolution mechanism
3. Investor grievance redressal mechanism administered by Exchange
*Investors are advised to take note of the above.
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