raj 11 January 2016
A very good ,morning
I am Rohit, software engineer n MNC coompany, I need some legal advice for my sartup business.
1. can we lend/borrow the money basisc of rate of inerest.
2. can we give private loans to needy customer.
3. Can we do this process online basis on traction .
4. What are the procedure and document required for opening this star-up company.
JLS 11 January 2016
JLS 11 January 2016
sandeep Sheregar (Proprietor) 11 January 2016
Hi Rohit
The answer to your questions is as follows.
1. Yes you can lend / borrow money on the basis of rate of interest. You can either borrow as an individual or institutional borrower. And you can lend money as a money lender for which you need to get money lenders license. And as a company you can lend as a Non Banking Finance Company after fullfilling all the mandatory legal compliances.
2. Yes you can give private loans to needy customers. But make sure you follow all the due procedure of law before doing it because without following the due procedure of law you will invite the wrath of Government Enforcement Agencies and Regulatory bodies. And also recovering loans from the borrower is also equally important.
3. So far as I know there is neither an individual financier or any finance company which provides loan online.
4. To know the procedure and documentation to be done to open your start up company you need to meet us in person and discuss to know what exactly is your requirement. You can mail us sheregar @ rediffmail . com
A. A. JOSE (LAWYER; LEGAL ADVISER/CONSULTANT& TRAINER) 14 January 2016
You may better consult a local Advocate and C.A. before finalising your structure of business to know the legal as well as procedural requirements.
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