Defrauded? Here’s how to get help
Lost money in an unlisted-share or pre-IPO scam — money gone from your account? Act quickly. Below are the exact places to report it, how to recognise a scam, and the checks that stop most fraud before it happens.
If money just left your account, report to Cyber Crime first — call 1930. The first hour (the “golden hour”) is your best chance to freeze the funds. Jump to where to report ↓
The scams to watch for
Almost every unlisted-market fraud carries one or more of the same tells. If you see these, stop.
- “Guaranteed” or “assured” returns — no equity carries a promised fixed or monthly payout.
- Pressure and urgency — “allotment closes tonight,” “only a few lots left.”
- Unsolicited WhatsApp / Telegram “tips” and “IPO allotment” groups.
- Payment to a personal account or in cash, with no proper invoice.
- Shares that never reach your demat — “we’ll hold them for you.”
- A price far off the going secondary-market range.
- No verifiable paperwork — no audited financials, DRHP, transfer form or CMR.
Before you buy: a due-diligence checklist
Most fraud fails against a few simple habits. Run this list before any unlisted purchase.
- Confirm the company is realLook up the CIN on the MCA registry, read audited financials, and for a “pre-IPO” name, check that a DRHP has actually been filed with SEBI.
- Check the going priceCompare the quote against indicative secondary-market ranges before you commit. A price that looks too good usually is.
- Insist on demat deliveryShares must move into your own CDSL / NSDL demat account, seller-to-buyer, with no pool account in between. If they can’t deliver to your demat, walk away.
- Never pay cash or a personal accountUse a compliant settlement route with a proper invoice and documentation — a share-transfer form or SPA in your name.
- Vet the intermediaryAsk for track record, references and complete KYC on both sides. A credible platform documents every step, and the shares should land in a demat account held in your own name.
- Understand the real risksUnlisted shares are genuinely illiquid, can carry post-listing lock-ins, and are harder to value. Size positions sensibly.
If money has already gone: where to report
Act quickly and use the right forum. You can — and often should — file with more than one.
National Cyber Crime — act first
call 1930 · cybercrime.gov.inFor any online financial fraud — money moved via UPI, net-banking or cards. Speed matters: reporting within the first hour (the “golden hour”) gives the best chance of freezing funds.
Use it when: you paid digitally and the money has just left your account.
RBI Sachet portal
sachet.rbi.org.inThe Reserve Bank’s portal for reporting entities collecting money through unregulated or fraudulent schemes — Ponzi-style “assured return” plans and unauthorised deposit-takers. Sachet forwards cases to the relevant authorities for action.
Use it when: an entity offered an unregulated scheme or “guaranteed” returns.
SEBI SCORES
scores.gov.inSEBI’s complaints-redressal system for grievances against SEBI-registered intermediaries and listed-company matters.
Use it when: your complaint is against a registered intermediary or a securities matter.
Police / Economic Offences Wing
local police · EOWFile an FIR for cheating and criminal breach of trust. For larger or organised frauds, the state Economic Offences Wing is the specialist unit. Keep every record.
Use it when: you’ve been cheated and want a criminal case on record.
Keep your evidence. Before reporting, save screenshots of the conversation, payment references and UTRs, any “allotment” documents, and the names and numbers used. It makes every channel above faster and more effective.
How a compliant platform lowers the risk
The point isn’t to fear the market — it’s to transact it properly
Shares move seller-to-buyer into your own demat — no pool accounts.
Every company is evaluated for financial discipline and governance before it’s listed to you.
Clear pricing, full paperwork, and shares settled into your own demat account.
SEBI-grade KYC, plus a grievance-redressal path and investor charter.
Frequently asked
Is buying unlisted shares legal in India?
Yes. Buying and selling shares of unlisted companies is legal when done through proper transfer and settlement into your demat account. What’s illegal is the fraud around it — misrepresentation, unregistered deposit schemes and non-delivery.
What’s the single best protection against a pre-IPO scam?
Insist that shares are delivered into your own CDSL/NSDL demat account, with documentation, and never pay cash or a personal account. If a seller can’t or won’t settle to your demat, treat it as a scam.
Which portal should I use — Sachet, SCORES or cybercrime?
If money just moved online, report to cybercrime (1930) first. For an unregulated “assured-return” scheme, use the RBI Sachet portal. For a registered intermediary or securities grievance, use SEBI SCORES. For cheating, file an FIR. These aren’t mutually exclusive.
Are “guaranteed monthly returns” on shares ever real?
No. Equity returns are never guaranteed. Any fixed or monthly “return” promised on shares is a hallmark of a Ponzi or fraudulent scheme — the exact kind the Sachet portal exists to flag.
General information, not advice. This page is educational and does not constitute investment, legal or tax advice. Portal names, URLs and procedures can change — verify the current details on the official RBI, SEBI and Government of India websites before acting. Investments in unlisted shares are illiquid, carry limited disclosure and may lose value. Polemarch is an intermediary platform and does not provide investment advice.