..............None of these companies is registered as chit funds with the Registrar of Companies (RoC) in Bengal, they added. The RoC registration is mandatory to start a company. At least three government regulators come into play when a company or institution tries to raise money from the public — the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and the Insurance Regulatory and Development Authority (Irda)................
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