MLM company in India said on Wednesday that it would be “unfortunate” if the country does not move faster on the creation of a regulator to monitor its operations.
In a statement to Bloomberg, the company said that the regulatory framework for its operations has not been put in place and that it had been “shifted to another company”.
It said that if the government did not provide enough oversight, it would seek legal advice and seek an injunction to prevent the company from continuing with its operations in India.
The company said the regulator should be a private company with a Board of Directors, with a mandate to monitor and oversee the operations of MLM businesses.
The statement did not name the company, and the regulator was not immediately available for comment.