Dear Friends, Mizoram Direct Marketing Limited is a network marketing company fully owned by Government of Mizoram. It is completely legal bcoz 1978 act says that if any government or its organization starts such schemes is legal. now it is going to create new era.......in MLM Industry in India. As per constitution under "The Prize Chits And Money Circulation Schemes (Banning) Act, 1978" 11. Act not to apply to certain prize chits or money circulation schemes. Nothing contained in this Act shall apply to any prize chit or money circulation scheme promoted by- (a) a State Government or any officer or authority on its behalf; or (b) a company wholly owned by a State Government which does not carry on any business other than the conducting of a prize chit or money circulation scheme whether it is in the nature of a conventional chit or otherwise; or (c) a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 , (2 of 1949 .) or a banking institution notified by the Central Government under section 51 of that Act or the State Bank of India constituted under section 3 of the State Bank of India Act, 1955 , (23 of 1955 .) or a subsidiary bank constituted under section 3 of the State Bank of India (Subsidiary Banks) Act, 1959 , (38 of 1959 .) or a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 , (5 of 1970 .) or a Regional Rural Bank established under section 3 of the Regional Rural Banks Act, 1976 , (21 of 1976 .) or a co- operative bank as defined in clause (bii) of section 2 of the Reserve Bank of India Act, 1934 ; (2 of 1934 ); or (d) any charitable or educational institution notified in this behalf by the State Government, in consultation with the Reserve Bank. BASED ON ABOVE PRIZE CHITS BANNING ACT RULE MIZO GOVERNAMENT STARTED MLM CONCEPT.If state govt start prize chits or money circualtion scheme this 1978 banning act is not applicable. FDSA(Federation of direct selling association) involved in Mizodirect mlm.FDSA board promoting the mizoram state mlm. SO JUST START GR8 CHANCE JUST HIT IT NOW. mizodirect.mizoram.gov.in Join Me at MDML and be the Leader of Revolution for Freedom & Security & All Happiness. Vijay Swami #08386836289
Posted on: Fri, 19 Jul 2013 19:24:25 +0000
Trending Topics
Recently Viewed Topics
© 2015