there is a system where you need to pay rs 2200 as help, donation, charity or beg to 6 people and you get enrolled in this system after that you will have to find 4 people to pay rs 2200 each, if these 4 people pay rs 2200 each then you can take back your investment of rs 2200 and rest of the amount will get distributed among 6 people as it keeps going at the last level you will receive a grand total of rs 57 Lacs as help, donation, charity or beg from the people....so my question is, is it illegal under prize chit and money circulation banning act 1978 ? or is legal ?
A.Dear Client,
You need to look the following for your benefit.
The Prize Chits and Money Circulation Scheme(Banning) Act,1978,
The Chit Fund Act,1982
3.Money Circulation Scheme(Banning) Rules, 2012
They are available in Hindi.
Shanti Ranjan Behera,
Advocate
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ARPIT BATRA
Responded 5 years ago
A.Pl be aware of such illegal acts.
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Deepak Yashwantrao Bade
Responded 5 years ago
A.Dear client Better to avoid to become member of such illegal scheme.its fictional schemes and never existed.if such kind of money growth is possible then why tata birla ambani invest into such scheme.try to vigilant not sleepy..It's all
ridiculously fake
A.Dear Sir,
Yes, any form of circulation by any name comes within the definition as defined in the said Act. Better to avoid to become member of such illegal scheme.
Dear Client,
A person is not considered for a govt job if he is prosecuted or convicted by a court in a criminal case. Mentioning a court case on a government job application can have different impli...
Dear Sir,
Once convicted on plea it cannot be reopened but may seek enhancement of punishment both by way of fine and imprisonment. You have to approach higher Court.
Dear Client,
A criminal revision petition challenging the order of the subordinate Court may be filed under Section 397 of the Cr. PC either before the Session Court or the High Court. According to A...
Dear Client
This can be a serious issue if a complaint is lodged with the police as the girl is still a minor and apart from other Sections of the Indian Penal Code the boy can be even booked (a possi...
Dear Client,
Firstly, engaging in solicitation for sexual services, including negotiating pricing with a sex worker, is illegal in many jurisdictions, including India. Therefore, if you have engaged...
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I want advice on price chit and money circulation banning act 1978
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