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Is it illegal to recommend any share to a friend?


20-May-2024 (In Criminal Law)
Is it illegal to recommend any share to my friend for investment? He is having loss in that share and he is threating me to give money against his loss or he will file FIR against me. What should I do for my safety ?
Answers (3)

Answer #1
814 votes
You can file an Fir of Criminal intimidation against your friend or if he ever took any money from you then you can also file an extortion case against him. Regarding recommendation it will depend upon your intent was it deliberate or just friendly advise
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Advocate Vinay Redhu

Adv. Vinay Redhu

LawRato Delhi | 200+ Answers
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Answer #2
675 votes
Kindly ask him to go ahead with the FIR because such an FIR will not be registered. you have given him the advice and the loss is by the market. so you have no liability towards the loss unless you have certain written documents which makes it mandatory that you will bear the loss.
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Answer #3
870 votes
Not at all. Allegations seem to be improbable. Mere recommendations cannot be considered as advisory. Even if, for the sake of allegation it is considered that it is an advice, in the absence of any agreement or misrepresentation or fraud by you,no legal action can be maintained. However, for your safety you should do certain compliances to safeguard yourself.
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Advocate Yuganshu Sharma

Adv. Yuganshu Sharma

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