About lucky draw system with money back policy

Dinesh Tayal (Querist) 27 April 2016 This query is : Resolved
Dear Sir

i want to ask about a scheme in which we collect some amount like 500-1000 online and we organize a lucky draw on specific date. all winners got some prizes of higer amount like 5000-10000 per winner and another peoples we paid money back afer some time.

kindly guide this is legal or not and which authority i need to registration.

Dinesh Tayal
Delhi

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P. Venu (Expert) 28 April 2016
The scheme is crazy!

Rajendra K Goyal (Expert) 28 April 2016
Commercial query, discuss with local lawyer.

Kumar Doab (Expert) 28 April 2016
Engage and retain an able counsel for your establishment and its online schemes and get appropriate advise on such things being valid or not.