Hi
This is yashwanth from Hyderabad, I have seen a plan running in India in the name of online financial helping platform ( giventake.world) it says that they should give help and take help from the members of society
Firstly the person should pay 531 as registeration fees
Secondly should give help to 5 upliners with respective amount of 150,200,400,600,800 directly to there UPI payment from our UPI payment and then we should refer 2 members that’s it
We can get amount from 10 levels with multiply of 2 members as
2*150- 300
4*200- 800
8*400-3200
16*600-9600
32*800-25600
64*1000-64000
128*2000-256000
256*3000-768000
512*4000-2048000
1024*5000-5120000

As we recieved help of 2000 we need to pay 1000 6 person
After receiving help of 4000 we need to pay 2000 7 person
After receiving help of 8000 we need to pay 3000 8 person
After recieving help of 12000 we need to pay 4000 9 person.
After receiving help of 16000 we need to pay 5000 10 person

We will also receive it in the same manner from our downline team . And they are charging 2000 for platform maintenance fees for sending this help to 10 members they also Charging gst and also they are charging 1,18,000 including GST as platform maintenance charges for receiving 10 lakhs in 212 installments
They are telling it as legal and having all the certificates of incorporation of company ( prashanth panchakal enterprises private limited)and register under societies act 1860( games )(giventake.world associates empowered and consumer society)and company is just providing the software platform for the society members to help eachother financially and telling that it is not money circular scheme where company is not collecting any amount from public, they are making it directly through there UPI
Is it a legal scheme in india ??? they are running it since 3 years in Kerala if it is illegal tell me in which way it looks illegal …? Why no action is taken on them since three consecutive years ? How does this plan looks like mlm or any other new start up ??
Iam interested to start this project , i would like to know whether it is legal or illegal. If it is illegal then any other sources to start and work on this project in legal way in Hyderabad, India