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Is Hundi a legal instrument ?

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  1. #1
    scsharma
    scsharma is offline Just in!

    Is Hundi a legal instrument ?

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    Is Hundi a legal instrument. Who pays the money and what happens if he does,nt have or refuses to pay on demand.

  2. #2
    Aarish Rizvi's Avatar
    Aarish Rizvi
    Aarish Rizvi is offline eTI Bronze
    Welcome ScSharma to eTI

    As per as I know, Hundi is no more legal in India, it is now a days associated with money launderer and hence not seen as legal instrument. There is no legal description about it in Indian law, since it can easily seen as money laundering , better to stay away from it.

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