https://www.taxtmi.com/news?id=16881 Chit funds are governed by the Chit Funds Act with state-level registration and enforcement; the Serious Fraud Investigation Office undertook investigations into companies alleged to operate as chit funds/MLM/Ponzi schemes for possible Companies Act violations over the past three years and the current year up to 31 October 2016, with a state-wise, year-wise record of companies ordered for investigation and counts of completed investigations provided to Parliament. en-us Fri, 18 Nov 2016 18:20:29 +0530 Fri, 18 Nov 2016 18:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16881 Chit funds are governed by the Chit Funds Act with state-level registration and enforcement; the Serious Fraud Investigation Office undertook investigations into companies alleged to operate as chit funds/MLM/Ponzi schemes for possible Companies Act violations over the past three years and the current year up to 31 October 2016, with a state-wise, year-wise record of companies ordered for investigation and counts of completed investigations provided to Parliament. News - Fri, 18 Nov 2016 18:20:29 +0530 https://www.taxtmi.com/news?id=16881