The National Stock Exchange of India Ltd (NSE) has cautioned investors against dealing with Telegram channels 'Crude Oil Commodity MCX Trade' and 'NIFTY Desk', as well as the Facebook group 'Dabba Trading', which are allegedly being used to offer unauthorised account-handling and illegal dabba trading services. The exchange said the operators behind these platforms are not registered as NSE members or authorised persons and warned investors against sharing trading credentials or participating in illegal trading schemes.
In one advisory, NSE said it had received information about an individual operating through mobile number 7424893664, who is offering account-handling services via Telegram channels named 'CRUDE OIL COMMODITY MCX TRADE' having link
https://t.me/best_shoping_deal_loot and channel named 'NIFTY DESK' having link
https://t.me/+aS_xFCYArmhkZDRl . According to the Exchange, the individual is not registered as either an NSE trading member or an authorised person of any registered member.
NSE cautioned investors against subscribing to any scheme or product that promises indicative, assured or guaranteed returns in the stock market, noting that such offerings are prohibited by law. It also advised investors never to share their trading credentials, including user IDs and passwords, with anyone claiming to manage their trading accounts.
The Exchange reminded investors that dabba trading is illegal and attracts stringent penalties under the Securities Contracts (Regulation) Act (SCRA), 1956. It noted that violations of Sections 13, 16, 17 or 19 of the SCRA can result in imprisonment of up to 10 years, a fine of up to ₹25 crore, or both. Such offences are cognisable and can be investigated by state law enforcement agencies. NSE also pointed out that dabba trading may attract provisions of the Bharatiya Nyaya Sanhita, 2023.
NSE has advised investors to verify the credentials of brokers and authorised persons through its Know/Locate Your Stock Broker facility before dealing with any intermediary. Investors should also confirm that payments are made only to designated client bank accounts disclosed by registered trading members.
The Exchange warned that investors participating in such unauthorised schemes or illegal trading platforms do so entirely at their own risk. Since these activities are neither approved nor recognised by NSE, investors will not be entitled to the Exchange's investor protection benefits, dispute resolution mechanism or grievance redressal system in the event of any dispute or financial loss.
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