Accepting Money From Public

Sumit (CA Practice ) (675 Points)

05 September 2010  

I want to know whether MLM Pvt. Ltd. companies which are accepting deposits from public in the form of membership fees can do so wihout obtaining the approval from RBI.


Secondly, whether such MLM Companies can legally invest such funds in shares of listed companies or invest in property.


CA Sumit Aggarwal