A multi level marketing model providing guaranteed return on investments. Seeking any investments without RBI or SEBI approval specifically for a private limited company need to do with careful advice from Chartered Accountant and Company Secretary. Many founders do not understand the legal framework of company creation and in quest to get funds, end up opening private limited companies. The startup entrepreneur even does not file an annual return if no investments exist, however here it is important for those entrepreneurs to follow all rules and regulations of company act and adhere to the compliances.
The investors will love startups who begin focusing on improving corporate governance, after all no one starts a business only to close it. Hence it is important for startups to seek advice from senior mentors and ensure they are moving in right track not only with reference to seeking investments or product development but also with reference to statutory compliances
Source Reference
https://inc42.com/buzz/director-of-hello-taxi-arrested-for-cheating-investors-inr-250-cr/
htttps://msmemantra.org
Author
Dr Prakash Sharma heads the Autonebula Initiatives to collaborate with startups, investors, senior thought leaders from Automotive Industry. With 30+ year experiences in IT industry, he has evolved PASSION FRAMEWORK for startup ecosystem.
Disclaimer
The Author refers multiple automotive news to interpret and analyze the trends and views are personal.
Autonebula is a connected transportation vehicle accelerator and investment fund that nurtures startups in this realm by mentoring them across business, technology & marketing – Check out Softlanding with Autonebula
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