NSE warns investors against 'Smart Vision Wealth LLP' for promising assured returns

National Stock Exchange (NSE) has issued a fresh caution to investors, advising them against participating in any schemes or products that offer indicative or guaranteed returns on stock market investments. Investors are also advised to keep their trading credentials, including user IDs and passwords, confidential and not to share them with anyone.

This advisory follows reports of individuals named Namrata and Ravi Tekwani, associated with an entity called Smart Vision Wealth LLP, who are purportedly collecting funds from investors while promising assured returns. They operate via mobile numbers 9510869405 and 9510723725 and a website, http://www.smartvisionwealth.com/. These individuals and the entities they represent are not recognised as authorised members of any registered member of the NSE.

To assist investors in verifying the legitimacy of stock brokers, the NSE has provided a 'Know/Locate your Stock Broker' facility on its website. This feature allows investors to confirm the details of registered members and their authorised persons. Additionally, designated client bank accounts used for transactions with investors are disclosed by trading members and are available for review on the same platform.

Participation in schemes offering guaranteed returns poses significant risks to investors. The NSE highlights that such schemes are neither approved nor endorsed by the Exchange. Consequently, any involvement in these schemes is at the investors' own risk, cost, and consequences, without any promises of safety or reliability from the NSE.

Moreover, investors should be aware that in the event of disputes arising from participation in unauthorised schemes, they will not have access to the Exchange’s Investor Protection jurisdiction, Dispute Resolution Mechanism, or the Investor Grievance Redressal Mechanism. These mechanisms are exclusively available for disputes within the regulated market environment.

NSE's warning also emphasises the importance of verifying the legitimacy of individuals or entities before engaging in financial transactions. Investors are encouraged to utilise the resources offered by the NSE to ensure that they are dealing with reputable and authorised parties.

A consolidated list of press releases and advisories issued by the Exchange can be found on the NSE website, which provides further guidance and updates for investors. It is crucial for investors to remain informed and cautious, avoiding any schemes that promise unrealistic returns.