Do's and Don't
Do’s:-
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Ensure that the company seeking money/investment/deposit from public is authorised to do so by a regulator like RBI, SEBI etc.
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Deal only with authorised representative of the company seeking investment/deposits.
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NBFCs are specifically permitted by RBI to collect deposits from public and public limited companies can collect deposits from public after satisfying certain conditions.
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Collective investment schemes inviting funds from public promising future delivery of articles such as plot/trees etc. or profile can be launched only by collective investment management companies registered with SEBI.
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Issue of shares, preference shares, debentures by companies is regulated by SEBI .
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Be sure to collect proper receipts of the money deposited /invested with the details of the schemes mentioned thereon.
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Before depositing your hard earned money into any schemes, be sure that payment is from actual business and not from the money collected from new members.
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Ensure that the company seeking money from you is genuine and is doing real business.
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Prior to purchase of land/flat from any private builders/ real estate firm, ensure it’s credential, verify the right, title of the land.
Don’t
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Don’t part with bank account No. /ATM Pin No. /PAN card No. etc over phone to any strangers.
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Unincorporated bodies like individuals, proprietorship and partnership concerns, trusts etc. are prohibited from seeking public deposits.
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Do not get lured by online schemes seeking deposits and promising high returns of gifts
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Never pay in advance in the name of processing fees to receive a future loan.
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No company can offer more than 12.5 % interest on deposits. Promise of higher returns means high risk.
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