India: Pyramid schemes under the scanner

August 6, 2012
Ankur Sohanpal

The Union finance ministry has written to all state governments to crack down on pyramid financial schemes using the Prize Chits and Money Circulation Schemes (Banning) Act of 1978. They said several Bengal-based pyramid schemes are on the radar. Calcutta, alone, has 27 registered chit funds, and the Supreme Court has already dismissed Bengal-based Rose Valley Real Estates’ plea to recall its earlier order. Read more here.



View Our Publications

Case Studies, Learnings and More!

View Publications


Footer Image

Get In Touch