NSE alerts investors against two guaranteed return schemes

Leading stock exchange NSE on Wednesday asked investors not to subscribe to any scheme with assured returns offered by two persons -- Shubhrakanti Nag and Suprakash Debnath.

This comes after the National Stock Exchange of India (NSE) noted that Nag and Debnath were operating various proprietary bank accounts in the name of Profit Axis PMS Services, Stox Gurukul, and Tradenext Securities for collecting funds from investors through a guaranteed return scheme.

The exchange pointed out that these entities are not registered either as a member or as an authorised person of any registered member of the exchange. However, they are found to be associated with a registered trading member Tradenext Securities Ltd and its directors Shubhrakanti Nag and Suchana Das Nag.