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Is lucky draw scheme valid according to Indian law
10-Jul-2023 (In Consumer Court Law)
5000 customer 50 computer 11 laptop lucky draw other every customer get one water filter for 1100 cost 11 week scheme 100 rs per week is it valid
This kind of money investment has to be registered with RBI where money from public is derived; in short for your reference more details are a must for such a query. You can write to us here with further clarification
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Adv. Omar Siddiqui
Gurgaon | 25+ Answers
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Sir,
Its a valid scheme but if the lucky draw is a kind of in which you will lose every thing from your amount then its an illegal and not valid as per indian law but you will get the product of water filter and you are paying for that water filter which is the amount in weekly installment of Rs 100 = 1100 for 11 weeks.
its only a marketing strategy.
Regards
Puneet Sharma ( District & session Court Delhi & Faridabad)
Advocate/Solicitor/Legal Consultant
Its a valid scheme but if the lucky draw is a kind of in which you will lose every thing from your amount then its an illegal and not valid as per indian law but you will get the product of water filter and you are paying for that water filter which is the amount in weekly installment of Rs 100 = 1100 for 11 weeks.
its only a marketing strategy.
Regards
Puneet Sharma ( District & session Court Delhi & Faridabad)
Advocate/Solicitor/Legal Consultant
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Adv. Puneet Sharma
Faridabad | 200+ Answers
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Any schemes where no skill is required and are based 100% luck are not valid in law. In this scheme as it is seen that there is no skill involved and is based only on luck. All the people are paying same amount and out of them some are getting extra benefit at the cost of others. This scheme is not valid in law.
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