Even as investor clients of defaulter brokers are struggling to get their money back, one more broker has defaulted. BSE declared its trading member (broker) Maxgrowth Capital Pvt Ltd has been declared a defaulter for violating several rules and regulations.
“Investors having any outstanding claims against Maxgrowth Capital are advised to file their claims with the Exchange, if they so desire, within one year from the date of issue of this notice (specified period), and no claims filed after one year will be entertained by the Exchange against the above defaulter member and it shall be deemed that no such claims exist against the defaulter member or such claims, if any, shall be deemed to have been waived.
The claims filed against the above defaulter member will be dealt as per the norms for eligibility of claims for compensation from Investors Protection Fund (IPF) to the clients of the defaulter member,” BSE says in the public notice issued on 25 October 2024.