BSE invites investors' claims against Grovalue Securities

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SME Times News Bureau | 04 Jun, 2020
BSE Limited has invited claims from investors against two stockbrokers -- Grovalue Securities and Vineet Securities -- who have been declared as defaulters and also expelled from the exchange.

The NSE has already expelled them and declared them as defaulters.

"Investors having outstanding claims against Grovalue Securities and Vineet Securities are advised to file their claims with the exchange, if they so desire, within 90 days from the date of issue of this notice," the BSE said.

The eligible claims filed before the specified period will be considered for compensation from the Investor Protection Fund (IPF) to the maximum extent of Rs 15 lakh per client.

Grovalue Securities Pvt Ltd describes itself as a leading equity and commodity services company in India offering diversified brokerage services that includes equity, derivatives, commodities, NRIs mutual funds, offline trading, demat account, insurance and currency services.

The company has offices located in Ahmedabad, Amritsar, Aurangabad, Chennai, Indore, Jaipur, Nagpur and Mumbai's Vile Parle. The company's registered address is in Chennai.