Agreement for financial transaction
6 years ago
I have group of investors who are ready to give me small amount about 4 to 6 lacks for long term and I can use this bulk collected for any investment or business and in return after about 20 years I have to return them amount which is minimum 10 times of amount given to me.
I need to know
(1) Can I give them guarantee that this many times of their deposit will be given to them after about 20 years
(2) Do I require to get any licence from government bodies ?
(3) What kind of agreement O need to enter with depositor ?
Deepak Yashwantrao Bade
Responded 5 years ago
A.dear client in your matter Request you to please take consultation for the answer to your qeries.
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Ambrose Leo
Responded 6 years ago
A.You cannot do the banking activities involving Public and their money it is against the strict Banking & Finance Act. It is better to consult a Corporate Advocate to guide & help you.
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