Legal Question in Criminal Law in India

Hi, I want to start a proprietory enterprises business which is quiet similar to luck draw. It has 1000 members each paying total sum of 2500 in 10 weeks.(250 per week). Till the end of this scheme Only 10% of the members will win big prizes and the remaining members will get a consolation prize. ( This consolation prize cost is 50% of their total paid amount). My concern is, if this is legal in India and if yes under which cateagory I should register my company. Does this attract any legal issues. Your help will be highlighly appreciated. Thanks

Asked on 7/14/14, 2:14 pm

Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

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Answered on 7/14/14, 11:56 pm

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