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Last year, the Darwin Platform group of companies, owned by 'Prince of Sultanpur' Ajay Harinath Singh, bought Lavasa, the picturesque hill station city in Maharashtra, through the bankruptcy resolution process for just Rs1,814 crore to be paid over eight years.
Tata Restart not only misuses the Tata brand name but also mischievously uses images of former group chairman Ratan Tata, to promote a typical get-rich-quick investment plan.
India Business News: India has seen a surge in multi-level-marketing (MLM) pyramid schemes, with over 400 new schemes emerging in 2023, the highest in the past five years.
Over 400 new multi-level-marketing (MLM) pyramid schemes were launched in India in 2023, the highest in five years, says Strategy India, a policy, compliance and direct-selling consultancy, and associate member of the Indian Direct Selling Association (IDSA).
India saw the highest number of multi-level-marketing pyramid schemes launched in five years in 2023, according to Strategy India, a policy, compliance and direct-selling consultancy. These schemes, based on money-circulation networks, pay existing investors with funds collected from new ones instead of profits. Many remain unchecked by taking advantage of loopholes in existing consumer protection laws.