NSE Warns Investors about RDQ Tradingswala, Swapan Nayak, LFS Broking & PMS Services and MOL Commodities
Moneylife Digital Team 07 November 2022
The National Stock Exchange of India (NSE) has issued a warning to the investor against four entities that are collecting funds from the public through assured or guaranteed return schemes.
 
In two separate releases, NSE says RDQ Tradingswala Technologies Ltd, Swapan Nayak, LFS Broking & PMS Services and MOL Commodities are not registered either as a member or as an authorised person of any registered member of the Exchange.
 
"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," the Exchange says.
 
According to NSE, while RDQ Tradingswala Technologies is not registered either as a member or as an authorised person of any registered member of the bourse, the entity is found to be associated with a registered trading member RDQ Stock Broking Pvt Ltd and its director Swarnendu Jana.
 
Similarly, NSE says LFS Broking & PMS Services and MOL Commodities are found to be associated with Saiyad Jiyajur Rahaman, who is the director of a registered trading member LFS Broking Pvt Ltd.
 
Since such schemes are neither approved nor endorsed by the Exchange, NSE says, participation in such prohibited schemes is at investors' own risk, cost and consequences.
 
"The investors may note that for any kind of disputes relating to such prohibited schemes, none of the recourses will be available to investors, including benefits of investor protection under the exchange's jurisdiction, exchange dispute resolution mechanism and investor grievance redressal mechanism administered by the Exchange," NSE added.
 
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kailash.ia
5 months ago
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