Need information regarding legal ways in which I can manage my clients money.

Hi Sir/Madam, I am aware that the scene of dabba trading(collecting and/or managing clients money/accounts) is illegal. I was wondering there might be a way in which I will accept money from friends or clients through 1)P2P lending(not sure at what interest rate i have to accept a lending. please clarify) or through 2) accepting money by writing on stamp/bond. I wish to take profits above a certain percentage below which i wont share any profits. For ex. I will start sharing profits only if I am able to achieve more than 12% ROI on investment and sharing will be only after 12%. Also how or in what form should I accept profits in a way that I don't breaking any law. I don't know if this model will be legal or not. If not Is there any other way I can work this around. I am sweating so much because in India, laws are really stringent and unfavourable towards managing accounts. Also taxation benefits are very bad for hedge funds in India(Also I am not eligible for setting up Hedge funds yet)