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Issuing of legal bond and agreement for security purpose
12-Aug-2023 (In Banking / Finance Law)
A company name sanvariya retails approached me to install a warehouse for which i have to invest 30 lakh which has a lockin period of 5 years . For security purpose they said they will be issuing legal bond and agreement . My question is are legal bond make an obligation on that private company to return my money in any extreme case or does that make my money safe ...what other suggestion you can give .....how i can identify wheather the company is fraud or geniune
Kindly share the draft of that legal bond. Sothat same can be ascertained. Also check whether that company is listed under the companies act & enrolled under Financial institutions. if ask them to share that registration no. Which can be cross checked with the concerned authority.
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Adv. Ramniranjan Chaturvedi
Bhopal | 200+ Answers
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