MLM 
The Reserve Bank of India (RBI) declares MLM schemes falls within the preview of Money Circulation which is an offense under Prize Chits Money Circulation Banning Act 1978. CB raids 3 MLM companies in Kochi Courtesy: Deccan Chronicle, Kochi Kochi: The economic wing of the Kozhikode Crime Branch (CB) police raided offices and godowns of [...]
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THE MONEY CIRCULATION SCHEME (BANNING) RULES, 2012 UNDER THE PRIZE CHITS & MONEY CIRCULATION SCHEMES (BANNING) ACT, 1978 Whereas section 2 © of the Prize Chits and Money Circulation Schemes (Banning) Act 1978 (Act No. 43 of 1978) defines ‘money circulation scheme’ as any scheme by whatever name called, for themaking of quick or easy [...]
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