Sebi has warned investors against dealing with Trading India Portfolios Ltd (TIPL) and its chairman Ankush Srivastava after the regulator observed that the firm has placed false and misleading information related to portfolio management and stock broking services on its website.

"TIPL is not registered with SEBI in any capacity and the registration details given on its website are false," the regulator said.

Rules mandate for an entity to obtain registration from Sebi before operating as a portfolio manager or stock broker.

"In this context, the general public is hereby cautioned against dealing with Trading India Portfolios Ltd /TIPL Ltd and its Chairman & CMD Mr. Ankush Srivastava. The public in general is also advised against being misled by similar advertisements which solicit investments and/ or promise unrealistic returns," Sebi said. (Economic Times)