MLM News

NetworkingEye.com: MLM News, MLM News in Hindi, MLM business, MLM Companies, Scam Companies

  • Home
  • हिन्दी MLM News
  • Scam Companies
  • Guest Post
  • Submit An Article
  • Submit Press Release
  • Advertise
  • Contact
Sachin Pilot Minister of Corporate Affairs Spoke on Amway Issue

Sachin Pilot Minister of Corporate Affairs Spoke on Amway Issue

By Ak Sharma | Published on 06/06/2013

Rate this News

Corporate Affairs Priest Sachin Pilot today pointed out the government will remove as early as possible ambiguities in legislations focussed on tackling deceptive financial investment systems.

Pilot’s remarks come in the background of global direct selling firm Amway’s India Chairman William S Pinckney and 2 business Directors being jailed by the Kerala police over allegations of fraud.

“We (Corporate Affairs Ministry) will certainly work closely with concerned ministries and business to get rid of the vagueness in the law (related to taking on ponzi and various other fraudulent schemes) as quickly as feasible,”

Discussing the Amway issue, he said that it “is not good that such a thing happened.” Pinckney, Malhotra and Budhraja, that have actually been provided conditional bail, were seized by the Wayanad Crime Division (Economic Offences) wing from Kozhikode about 3 scams instances signed up in Wayanad district.

They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by distributors in 2011.

“While steps ought to be taken to suppress deceitful firms operating suspicious financial investment schemes, firms that are deemed and following the rule should be defined,” the Minister pointed out.

“Such events (like Amway) may detrimentally affect the prospects of our nation as an appealing financial investment destination,” he noted.

Following Saradha fiasco in West Bengal, government has started a multi-pronged suppression on firms running ponzi and deceptive plans besides making efforts to shield the interest of good MLM companies.

“While we take solid steps against ponzi plans, we need to be careful not to develop a vitiating atmosphere for reputed and legislation abiding firms,” Pilot stated.

  • Tweet
  • WhatsApp
  • More
  • Email
  • Print
  • Telegram

Related

Filed Under: MLM News

SUBSCRIBE TO Networking Eye - MLM News

Sign up for our newsletter and receive news, updates, and the latest alerts.

Leave a Reply Cancel reply

LATEST NEWS

  • Vestige To Launch PETA certified 100% Vegan Assure Natural Range
  • Ranga Reddy: Multi-level marketing fraudsters loot 15 lakh from woman
  • Enforcement Directorate (ED) attaches assets of ‘bike bot’ MLM Ponzi Company worth 103 crores
  • Indian Direct Selling/MLM Companies rises as top performer among Asia Pacific Companies
  • New Consumer Protection Act of 2019 to Protect Online Customers

TRENDING TODAY

  • QNet Is A scam In India or Legit?
    QNet Is A scam In India or Legit?
  • Indian Cyber Crime Toll-free Number to Report Online Frauds
    Indian Cyber Crime Toll-free Number to Report Online Frauds
  • Top MLM Companies of Network Marketing in India
    Top MLM Companies of Network Marketing in India
  • SCAM Companies New Updated list
    SCAM Companies New Updated list
  • The Status of Network Marketing/MLM/Direct Selling in India
    The Status of Network Marketing/MLM/Direct Selling in India
  • list of top mlm companies in india
    list of top mlm companies in india
  • The Indian Direct Selling Association - IDSA
    The Indian Direct Selling Association - IDSA
  • The Difference Between Linear Income and Residual Income
    The Difference Between Linear Income and Residual Income
  • Top 100 Global MLM companies in the world
    Top 100 Global MLM companies in the world
  • Top 400 Earners Network Marketing (based on earnings per month)
    Top 400 Earners Network Marketing (based on earnings per month)

COMMENTS

  • Atul Sohanlal Parihar on The Status of Network Marketing/MLM/Direct Selling in India
  • Sekhar Chetry on SCAM Companies New Updated list
  • KS on SCAM Companies New Updated list
  • Saad on SCAM Companies New Updated list
  • kiran on QNet Is A scam In India or Legit?

Copyright © 2014–2021 · NetworkingEye.com

About Us · Privacy Policy · Cocky Policy · Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.