26 August 2014
1. Stamp duty as per the respective state stamp act. For example in Kerala state, it is Rs. 500 and Rs. 10,000 respectively.
2. Stamp duty has to be paid electronically.
3. Main object:-
To start and conduct kuries namely transactions entered into by the company with a number of persons that every one of the contracting parties shall subscribe a certain amount of money by periodical installments for certain definite periods and that each on his/her turn as determined by lot or auction or both shall be entitled to the prize amount less discounts as may be provided fit in the agreement, but the company shall not carry on the business of banking with in the meaning of Banking Regulation Act,1949.