Legal Question in Criminal Law in India
Pyramid Schemes
Is there a law governing Pyramid Schemes in India? What are the laws relating to such ventures? And also what are the laws governing Multi Level Marketing in India?
Asked on 11/16/01, 6:22 am
1 Answer from Attorneys
Mahesh T. Pai
M. A. T. Pai & Mahesh T. Pai
Re: Pyramid Schemes
No laws. At best, you can apply the laws relating to breach of trust, and cheating, if the schemes do not deliver according to their promise. Also, you may invoke "restrictive / unfair trade practice" as available in the Consumer Protection Act, 1986.
Answered on 11/16/01, 1:30 pm
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