NSE Warns Investors About Amit Lilhare’s Assured Returns Scheme
The National Stock Exchange (NSE) has cautioned investors about Amit Lilhare, an authorized person of a registered stock broker, who is offering assured and guaranteed returns on stock market investments. This practice is illegal.
Lilhare operates from multiple addresses:
- BL.No.27, Plot No. 22, Second Floor White House, Nehru Nagar, East Bhilai, Durg-490020, Chhattisgarh
- A 2/302, Dream Estate, Handewadi Road, Nr. JSPM College, Hadapsar, Pune-411028, Maharashtra
He collects commissions in his personal bank accounts. Investors are advised not to share their trading credentials and to verify stock brokers through NSE’s website.
In other news, the Nifty 50 index hit the 25,000 mark for the first time on August 1, 2024, after taking 221 trading days to rise from 20,000. NSE MD and CEO Ashishkumar Chauhan attributed this growth to a favorable budget and India’s status as the fastest-growing large economy.
Doubts Revealed
NSE -: NSE stands for National Stock Exchange. It is a place where people can buy and sell shares of companies in India.
Investors -: Investors are people who put their money into something, like the stock market, hoping to make more money in the future.
Amit Lilhare -: Amit Lilhare is a person who works with a registered stock broker but is doing something wrong by promising people guaranteed money from the stock market.
Assured Returns Scheme -: An Assured Returns Scheme is when someone promises you will definitely make money from an investment, which is not allowed in the stock market.
Stock Broker -: A stock broker is a person or company that helps people buy and sell shares in the stock market.
Trading Credentials -: Trading credentials are like your username and password that you use to buy and sell shares in the stock market.
Nifty 50 -: Nifty 50 is a list of the top 50 companies in India whose shares are traded on the stock market. It helps people understand how well the stock market is doing.
25,000 mark -: The 25,000 mark means that the combined value of the top 50 companies in the Nifty 50 list has reached 25,000 points, which is a big milestone.