NSE Alerts Investors of Fraudulent Stock Return Promises by Amit Lilhare

The National Stock Exchange has issued a caution against Amit Lilhare, an authorized person of a registered stock broker, providing 'assured' and 'guaranteed' stock market returns. Investors are advised not to engage with such schemes as they are illegal. The NSE is taking disciplinary action against the involved trading member.

The National Stock Exchange (NSE) has issued an urgent advisory warning investors against engaging with schemes promising 'assured' or 'guaranteed' returns, led by Amit Lilhare, an authorized individual linked to a registered stock broker.

Operating from addresses in Bhilai, Chhattisgarh, and Pune, Maharashtra, Lilhare has been reported to be collecting commissions on these fraudulent promises directly into his personal bank accounts, the NSE stated.

The stock exchange is currently pursuing disciplinary measures against the implicated trading member. Investors are urged to verify the credentials of any broker or entity through the NSE's official website and to avoid sharing personal trading details.

A further milestone for the NSE saw the Nifty 50 index surpass the 25,000 mark for the first time, reflecting robust market confidence driven by recent fiscal policies and the economic outlook.

(With inputs from agencies.)