The fund house mentioned that a fake/deceptive/fraudulent Whatsapp group under “Kotak Club – 213” is there and is impersonating Kotak Mahindra Mutual Fund. It is engaging in fraudulent activities such as providing tips for stocks/trades in securities market and misusing the name of senior executives, logo, and Kotak brand name.
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The notice also mentioned that such a group is formed with an intention to defraud and mislead the general public.
“This is to further caution the public that Kotak Mahindra AMC has not authorized any person to undertake creation of the above-mentioned fake social media group or undertake any activities related to this said group. The fund house said that it is in no way associated with these fake social media groups created by these fraudsters,” the notice read.
It mentioned that, “We would like to bring to the notice of the public that Kotak Mahindra AMC is in no way associated with these fake social media groups created by these fraudsters and we condemn such acts as defrauding.”“We advise the general public to stay vigilant of such scams and exercise due caution. Kotak Mahindra AMC shall not accept any responsibility or liability whatsoever for any loss that anyone may suffer or incur owing to any transactions made with such unknown individuals or agencies making false claims,” the notice added.Also Read | Nippon India Nifty 500 Momentum 50 Index Fund opens for subscription. Key things to know
Cautioning investors, the fund house also said investments in Kotak Mahindra Mutual Fund can only be made through their official and registered addresses.
In case of any inquiry, one may visit the website at www.kotakmf.com or visit any of the branches of the fund house.
According to the August portfolio, the fund house manages assets worth Rs 4.75 lakh crore and 132 mutual fund schemes.
