Legal Question in Civil Rights Law in India
money circulation act in mlm company
we are planning to start a mlm company and the plan is non working benefit to distributor of rupees one lac in single chain system according to growth and the registration fee of distributor is only rupees. 2500/-. it is count in money circulation act orr not ?
Asked on 12/30/08, 5:01 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: money circulation act in mlm company
You may need to be careful of Section 2 (c) of the THE PRIZE CHITS AND MONEY CIRCULATION SCHEMES(BANNING) ACT, 1978 and the Rules framed thereunder by respective State.
An appropriate complete answer may not be possible on the basis of your statement.
Answered on 12/30/08, 6:00 am
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