Today, many companies are doing sales promotion with a scheme.
In which they take some amount (say Rs. 1000/member) from some members say (2000) every month for a period of 1 year.
And conduct a lucky draw every month in which prizes are given and at end some item is given to each member for which instalments were taken.
Is it legal??
Check out what happened in Saradha Group financial scandal
HKC | Chartered Accountants & Business Advisors
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CCI
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