The Toughest Call That I Made

Bangalore: Many a time it happens that you need to take decisions that seem to be very difficult and confusing. However, these decisions prove to be fetching much better result that thought of. In a candid chat with siliconindia, few entrepreneurs share the tough times and toughest call they made in the initial phase of their business.

Adhil Shetty, Founder & CEO, BankBazaar.com

Setting up a company in itself is one of the toughest decisions that one could ever take. It is difficult to choose how to structure and register your company. “It was quite a tough task to decide whether to register our company as a public limited, private limited or as a partnership body, or having one office overseas and then opening a branch in India,” says Adhil Shetty.

Adhil wanted to start his business in Mauritius, but due to lack of fund, he started his dream project from a garage in India. It was a difficult call for him to decide on the structure of his company. “I choose to register as a private limited company in India with a sum of 10,000. The best thing that we did was following all legal procedures and paying all the taxes in order to secure the future of our business,” adds Shetty.

He decided to keep it simple and cheap and found it to be the best approach. The simple structure of his business, and legally clean history attracted the investors and BankBazzar.com has raised a substantial amount funding in series A.

Adhil Shetty is the Founder & CEO of BankBazaar.com, an online marketplace that gives instant customized rate quotes on loans and insurance products.