Hiring Security off the record - what will be labour/legal complications & consequences?

I am very fresh to take up the HR role without relevant education background. So, I just want to know if I hire a security 24/7 for my organisation what will be labour/legal complications & consequences. Request to guide me on this..
TIA

Pls refer Private security agecies regulation act 2005.
And schemes made by the state there under Psar Act 2005.

You will have to enter into an agreement with the security agency with regard to the liability arising out of the security personnel engaged through that agency.

Hiring Security Off the record Means what?
Private Security Services Falls under Private Security Security Agencies Act, 2005 and Relevant Sate Act and schemes there under.
The consequence of skipping legal Compliance/ Statutory Compliance will make the principal employer defaulter.
All the compliance Like Minimum Wages Act, Payment of wages Act,Contract Labour Act, Leave with Wages Act, State welfare Act,Payment of Bonus Act, Payment of Gratuity Act. etc are applicable to security services also.
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