Legal Question in Banking Law in India

Re: Banking

It cannot strictly speaking. The Customer has to beware.

Re: Banking

I agree with the above answer.

Re: Banking

I t appears to be a bogus company.

Re: Banking

Actually before applying for its registration the company is supposed to give all details in the ROC.So it must have given atleast 50% facts.So it is upto you to find out whether the company can rotate so much of deposits to become crores of rupees in a jiffy or not.The best example for this is Lehman Brothers case,with which so many countries of the world connected with US are in doldrums,which can be called recession.But one cannot deny anybody's capacity like the company may return crores to its members initially but may become bankrupt in the near future.So before entering into the business you are to look for pros and cons of the business and company.No attorney would suggest you about the adversity of the company policy because ROC has issued registration certificate to its directors to run a company.It is illegal if anyone goes contrary to ROC.