NSE Warns about Vinay Agarwal of Economical Consultancy and Ashish Agarwal from Ganesh Traders, Who Are Providing ‘Stock Tips’
Moneylife Digital Team 24 May 2023
The National Stock Exchange (NSE) has warned investors to stay away from Vinay Agarwal of Economical Consultancy and Ashish Agarwal of Ganesh Traders, who are luring investors under the pretext of providing securities market tips for trading and assuring returns on investment in the stock market.
In two separate releases, the Exchange says, "A person named Vinay Agarwal, associated with Economical Consultancy operating through mobile number +91-9559984351, and Ashish Agarwal, associated with Ganesh Traders operating through mobile number +91-7202040635, are providing securities market tips for trading and assuring returns on investment in the stock market and also offering to handle trading account of the investor by asking investors to share their credentials".
"Investors are cautioned and advised not to subscribe to any scheme or product offered by these or any other entities offering indicative, assured or guaranteed returns in the stock market as the same is prohibited by law," NSE says.
The Exchange says it does not endorse such advisory and trade practices. "Participation in such a prohibited scheme will be under the investors' own risk, cost, and consequences as such schemes are neither approved nor endorsed by the Exchange," it added.
Further, according to the Exchange, its dispute resolution mechanism, investor grievance redressal mechanism, and protection offered to investors as per the norms would not be provided if any kind of dispute were raised by anyone indulged in this prohibited scheme.
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