NSE Caution Alert: 5 Named in King World, Market Master & SR Bull Dabba Trading Network

Five names. Three trading platforms. Ten different links, all pointing back to the same operation.

Most caution notices name one person and one platform. This one reads more like a network map than a warning.

If you’ve used King World, Market Master, or SR Bull, and thought they were three separate things, they weren’t.

That scale alone is worth slowing down for, so let’s actually map out who connects to what.

Five Names, Three Brands: What This Notice Actually Covers?

NSE’s notice, dated September 24, 2026, names five individuals together: Ravi Patal, Dipesh Sharma, Aman Parik, Mohan, and Ram Rajput.

They’re tied to three entities: King World, Market Master, and SR Bull, operating through four separate mobile numbers.

Between all of it, NSE says the operation offers securities market tips, guaranteed returns, account handling, and dabba trading, the full spread of everything we’ve seen individually in past notices, now bundled into one.

What King World, Market Master, and SR Bull Are Actually Running?

Each of the three named entities comes with its own website and, in two cases, its own dedicated app.

King World runs through kingworld.vip, with an app available at kingworld.vip/kw-nt.apk and a second listed at app.kingdomfx.in.

SR Bull operates through srbull.com, with its own app hosted at srbull.com/apk/srbull2.apk.

Market Master runs through marketmasters.guru, without a dedicated app named in this particular notice.

If “Market Master” sounds familiar, it should.

We’ve flagged a nearly identical name before in our review of the Master Market trading app, the same red flags, the same missing registration, just the words swapped around.

Two Facebook Groups, Two Telegram Channels, and Where They Lead

Beyond the three branded websites, this network runs its own recruitment channels too.

Two Facebook groups are named: “Dabba Treding” and “Stock Market (Dabba Trading).”

Two Telegram presences are named as well: “Dabba Traders Since 2016” and “Study Nifty Malayalam,” the latter suggesting this network reaches beyond Hindi and English-speaking investors alone.

Same Facebook Group, Three NSE Notices: Stock Market (Dabba Trading

Here’s where this notice stops being just another warning and starts confirming a pattern.

The Facebook group “Stock Market (Dabba Trading)” links to facebook.com/groups/531449605827341, the exact same group NSE named in two separate notices this month, one tied to an app called Bull Tiatans, another tied to an entity called Perfect Trading.

Three notices. Three different named fronts. One shared Facebook group underneath all of them.

That’s not a coincidence at this point; it’s a visible piece of shared infrastructure being reused across multiple public identities.

The Legal Exposure: Ten Years in Jail, Twenty-Five Crore in Fines

NSE confirms that a police complaint has already been lodged against all five named individuals and their entities.

Under Section 23(1) of the Securities Contracts (Regulation) Act, contravening Sections 13, 16, 17, or 19 can mean imprisonment of up to 10 years, a fine of up to ₹25 crore, or both.

Under Section 25, this is a cognizable offence, meaning state police can investigate directly, without waiting on SEBI or NSE.

The notice also cites Sections 316, 318, and 61 of the Bharatiya Nyaya Sanhita, covering criminal breach of trust, cheating, and criminal conspiracy.

Is Any of King World, Market Master, or SR Bull NSE Registered?

No. NSE’s notice states plainly that none of the named individuals or entities are registered, either as members or as Authorised Persons of any registered exchange member.

That means every single one of the ten linked platforms operates with zero exchange oversight behind it.

NSE points investors to its own “Know/Locate your Stock Broker” tool on nseindia.com, to verify any broker’s real registration status directly.

How to Report King World, Market Master, and SR Bull?

A network spread across ten links rarely gets noticed all at once. Most people only ever touch one piece of it.

If any of these five names or three brands match something on your phone, a saved number, an old Telegram group, an app icon you forgot about, that’s worth acting on now, not later.

Start by pulling together whatever evidence you already have, since none of it becomes easier to find after time passes.

1. Save every trace you have: Screenshots, UPI reference numbers, saved chats, and any payment receipts tied to King World, Market Master, or SR Bull.
2. File a complaint with SEBI by email: Since none of these five names carry any registration, SCORES has nowhere to route the case, so a direct email is the step that actually works.
   Our guide on how to complain to SEBI walks through exactly what to include.
3. Report it as a cyber crime: If money has already moved out of your account, file with the National Cyber Crime Helpline at 1930 or through cybercrime.gov.in, since that’s the fastest route to freezing the receiving account.
4. Contact your local police station: A police complaint already exists against these operators, and adding your own account to the record strengthens the wider investigation rather than starting one from scratch.

How to Spot and Avoid Multi-Brand Dabba Trading Scams?

A network spread this wide relies on one thing: you only ever seeing a single piece of it at a time.

Once you know King World, Market Master, and SR Bull are the same operation wearing three faces, the usual warning signs get a lot easier to spot.

Here’s what actually catches a setup like this:

• Search a brand name before joining anything tied to it. A few names appearing together in the same warning is itself worth noticing.
• Treat “guaranteed returns” as a hard stop, regardless of which of the three brand names is making the promise.
• Check the actual domain, not just the app name. kingworld.vip, srbull.com, and marketmasters.guru are all unregistered, no matter how different their branding looks.
• Assume shared infrastructure exists. The same Facebook group or Telegram channel can sit quietly underneath several different “brands” at once.

Conclusion

This notice reads less like a single warning and more like a map of one sprawling operation wearing five names and three brand identities.

The same Facebook group already seen in two other notices, and a Telegram channel that picked up a brand-new app within a day, both point the same way: this isn’t several small, unrelated schemes.

It’s one network, spread wide enough that no single warning was ever going to catch all of it at once.

Report. Recover. Stay Fraud Free.