Financial Advertisements

ameya (Querist) 29 May 2011 This query is : Resolved
Sir i want to know whether it is fine to place a financial ad of accepting deposit for a private business for a high rate of interest with registered agreement and post dated cheques.

1)if i want to advertise by giving pamplets to public by distributing hand bills

2) if i want to advertise by giving information on local Cable tv whreby the local tv operator is also fine with it..

r there any legal oppositions against it.???

Follow Query

Report Abuse

adv. rajeev ( rajoo ) (Expert) 29 May 2011
You can make an advertisement, but you must have a RBI permission to accept the deposits at high rate of interest,

A V Vishal (Expert) 29 May 2011
Even to accept deposits without high rate of Interest you need to have permission of the RBI

malipeddi jaggarao (Expert) 30 May 2011
RBI will not give any permission. There is no scope for such activity.

abhishek (Expert) 31 May 2011
its better to consult to nearby chartered account which can provide to all the details regarding finance business otherwise it is like a normal business needs documentary requirement as any other business.

Manish Singh (Expert) 31 May 2011
explain the nature of the entity and scope of the business.

Guest (Expert) 01 June 2011
Even the registered companies have to comply with the RBI conditions and also have a ceiling of accepting public deposits based on fixed percentage of their subscribed capital. Any action without the permission of the RBI can land you in trouble.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries