“The names of the operations listed here may include the ones listed on the Ministry of Consumer Affair’s website as compliant to the guidelines published by the Department of Consumer Affairs on the 12th of September 2016”
The list contains the names of operations identified as Scams and may be prosecuted under the Prize Chits and Money circulation (Banning) Act 1978, IPC 420, Protection of the Interest of Depositors Act for various states, PMLA, and the forthcoming The Banning of Unregulated Deposit Schemes Act 2018
Please note :
- This list contains names of unviable business operations which may have been initiated by the promoters intentionally (with full knowledge of implications) or unintentionally (copied without understanding the viability of commitments).
- These operations commit to offer un-viable returns or display misleading information on their website/promotional material/s.
- The marketing structure and compensation plan of the operations listed here are Multilevel (does not include the Direct and the Single level structure).
- This is not an exhaustive list, but contains a fraction of thousands of operations in India.
- This list also contains names of operations disguising money circulation by promoting intangible (Token) products which are of no value to the people paying for the same.
- In case an operation does not display the compensation plan on their official website, the compensation plan would be sourced from other website/s /Platforms where the operators or its agents/distributors/promoters would have displayed/posted the same. Therefore, it is the responsibility of the promoters/operators to make sure that the compensation plan displayed online is the one being followed by the company (as per the guidelines by MOCA).
- The details on these companies listed here including - Snapshots of the Web pages with date and time stamps, Names of the directors, Names of the Promoters/Top distributors, Addresses, Contact numbers, Compensation plan/s, Franchisee addresses, Server details, IP addresses, Name of the Software developer and support, Approximate turnover, Area of operation, Videos of the company meetings, brochures, literatures, etc would be shared on request with Investigation/Law Enforcement agencies only if requested using official email ids and contact details.
The list includes:
- Registered/Non-Registered entities/individuals (with the Registrar of companies in India)
- Individuals/entities deploying Multilevel marketing compensation plan (MLM)
The list excludes:
- Collective investment schemes registered with SEBI (A Collective investment scheme is any scheme of arrangement, which satisfies the conditions, referred to in sub-section (2) of section 11AA of the SEBI Act)
- Registered Chit fund companies
- Un-viable Operations deploying the Direct/Single level compensation plans with single level or multilevel structure.
- Entities which deploy multilevel marketing (mlm) compensation plans while promoting tangible products even though the pay-outs committed via the compensation plan are unviable (more pay-out being offered than provisioned for on the sale of products/services which are not listed as negative products on http://www.strategyindia.com/mlm-guidelines-3.html)