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How can I issue capital and charge interest legally
01-Jun-2023 (In Startup Law)
How can I issue capital money and get interest legally? Should I get registered for it? Or open a company. If he fails to pay, what are legal actions I could take on him?
If you are infusing funds for any company, you can do it within the legal limits. We need to understand in detail the kind of transaction you are entering before advising you further. You can get in touch with us or any other lawyer for this matter.
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Adv. Abheek Saha
Bangalore | 100+ Answers
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Hi
In case you want to start a non banking finance company you have to register the company name in the registrar of companies and seek the name approval, getting registration will help u to run the business, though it is not mandatory.
Second question, You can take a promissory note, guarantee letter, hypothecation of movable items if any and last but not the least cheques in your name to secure your payments. If he fails to pay you have to initiate cheque dishonur case or suit for recovery of money.
Pratap, Advocate
In case you want to start a non banking finance company you have to register the company name in the registrar of companies and seek the name approval, getting registration will help u to run the business, though it is not mandatory.
Second question, You can take a promissory note, guarantee letter, hypothecation of movable items if any and last but not the least cheques in your name to secure your payments. If he fails to pay you have to initiate cheque dishonur case or suit for recovery of money.
Pratap, Advocate
Helpful?
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15+
Adv. Pratap Kumar
Bangalore | 200+ Answers
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