Legal Question in Business Law in India

Hi

I am from India and I have been approached by a MLM Company to join their business, They are a Private Limited Company and in cooperated in Bangalore.

They have asked to pay Rs. 2200 to join their Business and I would be receiving a Product of my choice (like : Reebok Watch, Reebot Tshirt, Polo Sunglasses or a Dinning Set).

I need introduce people and I would receive commission when I have 6 People Under me.

I would like to know is this type of business legal in India or is there anything else i need to verify before joining the.

Thanks in Advance


Asked on 4/26/11, 4:37 am

1 Answer from Attorneys
Vivek Mapara Vivek N. Mapara

Need to know more about the nature of this business. It prima facie appears to be chit fund business. If it is so, it is restricted in India by Chit Fund Act.

Can contact in person

Vivek N Mapara

Advocate

9426482371

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Answered on 4/27/11, 10:06 am


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