NSE wants investors to stay away from this scheme

The National Stock Exchange (NSE) on Wednesday cautioned investors against two individuals and asked them not put their money in any investment product offered by them.

The two individuals are Archana Patel associated with Piramid Solution and Naga Rathnam associated with Wings2Trade. They were offering to handle trading account of investors by asking them to share their user ID and password, the NSE said in two separate statements.

According to the statements, these persons are not registered either as a member or authorised persons of any registered member of the NSE.

Patel was providing guaranteed returns on investment in the stock market, the bourse said.

Cautioning investors, NSE asked them 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.

"Participation in such prohibited schemes is at investors' own risk, cost and consequences as such schemes are neither approved nor endorsed by the exchange," NSE said.

For any kind of disputes relating to such prohibited schemes, mechanisms such as benefits of investor protection under the exchange's jurisdiction, exchange dispute resolution mechanism and investor grievance redressal mechanism administered by the exchange, would not be available to investors, it added.