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One of my friends wishes to start MLM concept for financial services like people depositing X amount and introducing others with Binary system and earn commission on introducing others. Although I have raised doubts whether money related MLM schemes are

One of my friends wishes to start MLM concept for financial services like people depositing X amount and introducing others with Binary system and earn commission on introducing others. Although I have raised doubts whether money related MLM schemes are valid or not in India, still wish to get your kind advise so that every precaution is taken before going ahead. You are requested to please guide & oblige. Thanks & regards- A K Chawla
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General Legal
Posted on 12th Jul, 2018
Advocate Rachit
Answered on 2nd Aug, 2018
The complete structure would have to be examined in-depth from the RBI (NBCF) laws and SEBI (CIS) laws perspective. You can contact us on rachit.kohli@lexlawoffices.com
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