image

CLR Snippets | Proper Enforcement of Regulatory Framework for Multi-Level Marketing Companies

CLR SnippetsThe Government has constituted a High-Level Inter-Ministerial Group (IMG) for proper enforcement of regulatory framework for Multi-Level Marketing Companies, Non-Banking Finance Companies and Companies running Collective Investment Schemes, under the Chairmanship of Additional Secretary, Department of Financial Services, Ministry of Finance. The Group consists of Joint Secretary level officers from the Department of Economic Affairs, Ministry of Finance, Department of Revenue, Ministry of Finance and Ministry of Corporate Affairs, and the Joint Secretary level officers from the Reserve Bank of India (RBI) and Securities and Exchange Board of India(SEBI). The Group is expected to strengthen the existing coordination mechanisms for regulation and supervision of financial sector.

The First Meeting of the Inter-Ministerial Group is scheduled for May 16, 2013.

*****

Tags: Collective investment schemeFinancial servicesGovernmentIMGMulti-level marketingReserve Bank of IndiaSecretary of State for Economic AffairsSecurities and Exchange Board of India

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates