Multi-level marketing

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

The 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,… Read More

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

Multi Level Marketing – Curbs on Fraudulent Companies

Multi Level Marketing (MLM) Schemes involving enrollment of a vertical chain of investors/agents constitute Money Circulation and are banned under the Prize Chits & Money Circulation (Schemes)Banning Act, 1978 which is implemented by the States. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs,… Read More

Tags: Central Economic Intelligence BureauMinistry of Corporate AffairsMLMMulti-level marketingRajya SabhaReserve Bank of IndiaSachin PilotSchemes

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