Income tax

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Nithija (Querist)
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23 November 2018 Can a company raise its capital through issue of chits like chit scheme ?

Nikhil Kaushik (Expert)
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24 November 2018 not unless you wish to become a public company. even here you need to look at SEBI provisions and see how it dealt with Sahara case.

Nithija (Querist)
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24 November 2018 What if its a private limited company and its mentioned in its MOA to issue chits?

Nikhil Kaushik (Expert)
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24 November 2018 as I said, refer Sahara case.

Nithija (Querist)
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24 November 2018 Cant relate Sahara case and mine sir? could u please brief it

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