What to know the legal approvals to be needed.

rajendra kumar gupta (Querist) 05 December 2013 This query is : Resolved
Sir,
My client is a Pvt. Ltd Co. running a business of Insurance policies franchise.
Now the Company wants to further expand its business to real estate.
They want to take public deposits / term loan at a fixed Interest rate. and using the funds so collected in real estate business.
the matured deposits will be paid from the profit received from such business. what formalities and legal approvals they require to run this business proposal. kindly help me in this regard

Thanking you

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R.K Nanda (Expert) 05 December 2013
ur senior advocate you must be knowing said formalities.

Rajendra K Goyal (Expert) 05 December 2013
Collecting deposits from public require RBI and SEBI approval / license. May visit the site of both regulators.