Dear All,
We (LLP) are into agriculture and aquaculture. We take investment from friends of partners and use those funds mostly for paying off office exp and repayment of unsecured loan taken earlier.
Do we fall under Unregulated Deposit Scheme?
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Banning of deposit
Replies (1)
Friends are not covered under Relatives, but even then you are not in financial business and as such will not be covered under the act. But still clarification about the same is awaited from authority.
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