Dear Sir/ Madam

Please make me aware on the following: –

1. In India, whether “Multi Level Marketing (MLM)/ NetWork Marketing/ Chain Marketing” or any other such Pyramidal Schemes/ Ponzi Schemes, etc are categorized or defined under “MONEY CIRCULATION SCHEMES” (which are clearly defined & banned Worldwide and regulated by Federal Trade Commission-US, Serious Fraud Office-UK, etc) ? And if defined then by which particular existing Indian Act or Law ?

2. Does the Prize Chits & Money Circulation (Banning) Act of 1978, Chits Fund Act 1982, Anti Corruption Acts or such other Acts define MLM and ably protect customer interests ?

3. Under what provisions of the Companies Act 1956 – a new company mentioning such marketing policies/ or business activities in its MOA – can be granted with a License or incorporated by the Corporate Affairs Ministry ? or honored with a PAN/ TAN too by our Finance Ministry?

Awaiting a response…

Regards
Rupam J Bora
Guwahati – Assam.

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I have a query regarding company’s shutdown. The employer has told the employees that the company will get shutdown in 2014. So what options do employees have. They would be given a particular amount on shutdown and because of that they cant leave it before shutdown. Is there any law regarding all this. As if an employee wants to be on the safer side and leaves the company before that to try somewhere else, are there any laws which enables him to get his share of money. Are there any laws regarding company’s shutdown?

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I have a query regarding company’s shutdown. The employer has told the employees that the company will get shutdown in 2014. So what options do employees have. They would be given a particular amount on shutdown and because of that they cant leave it before shutdown. Is there any law regarding all this. As if an employee wants to be on the safer side and leaves the company before that to try somewhere else, are there any laws which enables him to get his share of money.
Are there any laws regarding company’s shutdown?

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Sir/Mam,i am working in a private bank from last 3 years and 6 months and submitted resignation on dated 13 Oct 2011 and need relieving on dated 30th Nov 2011, as per this i am serving notice of 47 days but my current bank is not ready to relieve me unless i serve notice of 90 days,while in offer letter it is clearly mentioned that either you have to serve 90 days or pay equivalent salary for which i m ready to pay my shortage of notice period.
i need guidance that what should i do to get relieving from current bank.i m joining other private bank.
kindly help me.

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Hi there, I came to know about LexisIndia new online legal research system of LexisNexis, has any one used used it?
what’s your feedback?

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According to my understanding, the term “Indian Companies” would mean companies formed and registered in India under the Indian Companies Act of 1956 and as such if these regulations apply to “Indian Companies” they will not apply to foreign companies unless foreign company has registered itself in India as a separate company with the same name.

I do not see why trade unions would react to this legislation.

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There is no legal issue involved. You may continue with your operations.

Varad Deore
Advocate

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As I understand this problem, your only satisfactory remedy lies in divorce if you are sure you do not want to stay with your wife. One of the interim reliefs you could ask is judicial separation and restraining order against your wife.

As far as your job is concerned, we will have to wait till they actually fire you and see what grounds they fire you on. If these are not the official grounds then we will have to prove, with the help of your clean records, that it was this and no other reason.

Varad Deore
Advocate

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Presuming that your emails are a sufficient proof of the fact they engaged and utilised your services (and i will not able to say whether they are till I see them) I have the following to state:

A firm gets paid for the services it provides. If you have provided services, you are entitled for your dues irrespective of where else the profile of the candidate was listed. I must however also peruse the terms of contract between you and your client before making any assertive statements.

Varad Deore
Advocate

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maternal grandmother** sorry.

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