Legal Action by Choice against Fraudulent Website; Culprit Arrested

Choice Equity Broking Private Limited (hereinafter referred to as "the company" or "Choice"), a wholly-owned subsidiary of Choice International Limited, has recently uncovered a fraudulent website created under the name of Choice with a malicious intention of deceiving retail investors. The impostor using the brand name of Choice, has misrepresented the organization's identity.

Upon discovering these fraudulent websites, the company promptly got in touch with the police authorities at the Andheri Police Station and legal agencies to initiate an investigation. Choice appreciates and values the support provided by the authorities in registering the complaint and subsequently filing the FIR in this matter. The aforementioned websites and mobile apps have now been taken down, and the culprits are currently in judicial custody. Choice is actively collaborating with the authorities, offering full cooperation to ensure that entities engaging in such fraudulent activities are punished.

The compliance team at Choice initially identified the presence of the unauthorized website mentioned, following which legal action was promptly initiated. Choice would like to reassure clients, partners, and stakeholders not to consider or use any such fake website or mobile application. The company takes matters of misrepresentation and fraud seriously and will continue to take immediate action to address any such issues. It is important to note that the only official website of the company is https://choiceindia.com/.

Mr. Ajay Kejriwal, Chief Executive Officer of Choice Equity Broking Pvt ltd, affirmed, "Choice is dedicated to upholding the integrity of our brand and safeguarding the interests of our clients and stakeholders. We value the trust placed in us by our stakeholders, and their confidence remains our top priority. Choice has implemented various internal systems in place to proactively identify any such fraudulent activity in future and take immediate action on them. Rest assured, Choice remains steadfast in our commitment to upholding the highest standards of integrity, transparency, and trustworthiness."

Mr. Prashant Salian, Compliance Officer at Choice Equity Broking Pvt Ltd, stated, "We have treated this matter with utmost seriousness, promptly reporting it to all relevant regulatory bodies. Furthermore, we have diligently communicated with our clientele through multiple channels, urging them to verify the authenticity of the mobile application and website prior to engaging in any transactions. We are consistently disseminating links to our official platforms to all our clients."

As legal proceedings unfold, the company urges anyone encountering suspicious websites or activities falsely claiming affiliation with Choice to promptly report such instances through our official channels. We also encourage our clients and partners to verify the authenticity of any communication or online presence associated with our organization.

Shares of CHOICE INTERNATIONAL LTD. was last trading in BSE at Rs. 285.10 as compared to the previous close of Rs. 288.45. The total number of shares traded during the day was 16743 in over 590 trades.

The stock hit an intraday high of Rs. 290.80 and intraday low of 283.45. The net turnover during the day was Rs. 4807266.00.

Source : Equity Bulls

Keywords

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