Stock Market Investor Contest Website | Vkeel - Free Legal Advice

****l

Ahmedabad

Want to create website to run a contest for stock market investors as to who achieves great returns on their investment: 1. Investors can participate by paying fee. 2. Participants have to send their Demat account statements and we will verify their profits. 3. We will post the names of participants along with their performance yearly. Apart from the general public, we will offer special FREE invitation to online Stock Market Trainers to participate and prove themselves to the public that they are genuine investors. If a particular trainer refuses to participate, we will post that on our website that "Mr. XYZ, of www.xyz.com, refused to participate." Opinion needed: 1. Whether such website legal. 2. Are we compulsorily liable to show Account statements (as proof) of participants to public or anyone. 3. If we disclose that a particular Stock Market Trainer has refused to participate in the contest, can that trainer file any case against us.

Expert's Answers(5)

xxxxx cxxxxx
Bengaluru, Karnataka

184 Client Ratings

Dear Sir, it is legal provided it must be based upon only skills

April 26, 2021
Advocate Mohammed Shahzad
Delhi, Delhi

2 Client Ratings

1.Yes, you can start such business after taking license from NSE 2. No, without taking the consent of the public , you cannot publish the accounts . 3. Yes,

April 24, 2021
Advocate Anik
Bengaluru, Karnataka

66 Client Ratings

Hi, Such websites are legal as long as the due procedure is followed as per law. Yes, you shall keep all accounts for govt. inspection and cannot fail to do so. The trainer can file case as he has a right to do so as per law. Thanks

April 24, 2021
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

Such Websites has got to be registered Under Information Technology Act. Yes, it would be compulsory to maintain and disclose the account's because you will be providing service and shall be accountable Under the law. . Trainer shall be at liberty to file suit for litigation for certain issues. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

April 24, 2021