Pros
Hard to think..
Still thinking
No
Couldn't come up with any.
Cons
Either you don't get your salary at all or you get it after consistent begging for a few months that too without proper response from the authorities.
Eventthough they are at fault, they will not hesitate in demeaning you at any time.
They do not transfer salaries to your account directly, and there is no guarantee that the cheques issued will be cleared.
The initial process of recruitment might involve signing some agreements which might be used to take advantage of freshers as they are not so aware of the legal terms and conditions. They are not genuine employers.
In one word, they exploit employees.