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Prashant Mullick @VohiCapital
, 4 tweets, 3 min read Read on Twitter
Traders need to check their ledger not daily MTM PNL statements.

Selling of deep ITM options to hide and carry forward losses is a common practice amongst unscrupulous "sub-brokers" illegally managing others money in #OptionsTrading.
There are no mandates from @SEBI_India on allowing "sub-brokers" or any party to trade and manage client funds in #OptionsTrading.

Certainly no mandate to take leverage of the sorts usually taken.
@SEBI_India Even AIF Category 3 norms don't allow leverage upwards of 2.

Beyond that, even an AIF cannot solicit funds from the public openly.

More on these norms here:
sebi.gov.in/sebi_data/atta…
@SEBI_India All those retail or HNI participants subscribing to trading offers from unscrupulous #optionsellers need to be aware of @SEBI_India rules on leveraged trading.

There are protections for your interest.

Beware of falling for the lure of high returns posted on MTM sheets.
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