I want advice on price chit and money circulation banning act 1978

Situation : there is a system where you need to pay rs 2200 as help, donation, charity or beg to 6 people and you get enrolled in this system after that you will have to find 4 people to pay rs 2200 each, if these 4 people pay rs 2200 each then you can take back your investment of rs 2200 and rest of the amount will get distributed among 6 people as it keeps going at the last level you will receive a grand total of rs 57 Lacs as help, donation, charity or beg from the people....so my question is, is it illegal under prize chit and money circulation banning act 1978 ? or is legal ?
Related Topics : Criminal Law
Lawyers answer this question

Disclaimer : This answer is based on information given by you hence, It is just opinion of Lawyer. For specific answer you have to give details and facts and choose the Lawyer of your choice.

Lawyers: To answer this question, please Sign In to your account or wait for admin approval.

Most Viewed Lawyers