Finally, the old consumer protection act of 1986 got replaced with the new Consumer Protection Act of 2019 to Protect Online Customers. The new law retains all the components of the landmark 1986 law that gave Indian consumers, their six basic rights and a consumer justice system. However, it further expands the scope of the […]
Tremendous Growth of Himachal Pradesh in Direct Selling Industry
Owing to the ongoing Covid-19 pandemic and the government-mandated lockdown, the ever-improving telecom infrastructure in Himachal Pradesh has had a positive impact on the growth of the Direct Selling industry in the state. Mr Vivek Katoch, Director, Corporate Affairs-Asia of Swedish company Oriflame in India, said “Himachal Pradesh has already achieved near hundred per cent […]
Decriminalization of MLM: its Importance and Issues
June 8 was an important date for many entrepreneurs because that was the day when the Department of Financial Services issued the new notification with the comments from stakeholders about the decriminalization of several laws and provisions as a result of which many people became interested in it, especially the ones working in the legal […]
ED books Sun Pariwar for money laundering 150 crore
Enforcement Directorate (ED) has booked an enforcement case information report (ECIR) under the Prevention of Money Laundering Act (PMLA) against multi-level marketing company, Sun Pariwar. Earlier, the Cyberabad police had arrested the accused in a scam in which thousands were cheated to the tune of Rs 150 crore. On December 14, 2018, Cyberabad police had […]
Top Direct Selling Companies
Let me ask you a question. How can you convert your Daily Expense into an investment? Yes! you heard it right, Expense into an investment. Well, let me help you. The answer is Network Marketing. Yes, by starting a Network Marketing business you can convert your daily expense into a passive stream of income. However, […]
ED Files Prosecution Complaint In MLM, Ponzi Scheme Case Against Gold Sukh
The Enforcement Directorate has filed a prosecution complaint under the Prevention of Money Laundering Act, 2002 (PMLA) before the court of Special Judge (PMLA), Jaipur in an MLM/Network Marketing and Ponzi scheme case. The prosecution complaint has been filed against 12 accused – Gold Sukh Trade India Ltd, its sister concern Gold Sukh Corporation Ltd, Jaipur, its Directors […]
FIDSI demands exemption for genuine direct sellers under modified PCMCS Act
The act, known as Prize Chit and Money Circulation Schemes (Banning) Act, has recently been in the news because the Department of Financial Services (DFS), Ministry of Finance, GOI, proposed to decriminalize certain laws and acts. These include PCMC Act, for which the government has also invited comments and suggestions from the stakeholders. The country […]
Amway sees post-COVID online sales to stay at 80-85pc
The company’s online business which was at 33 per cent in February hit 90 per cent during the lockdown but Amway does not foresee it will get back to pre-covid level in the future. Direct selling major Amway India remained bullish that its digitally focused strategy will help regain business very close to the pre-COVID level by […]
MLM Company Owner Arrested for GST Theft of Rs 70 crore
The Central Goods and Services Tax (CGST), Vadodara, officials have arrested a businessman named Dilip Jain for evading Rs 70 Cr of GST/CE by providing other financial services through four unregistered entities under GST. The businessman Dilip Jain was arrested after GST investigations revealed that he hadn’t registered with the GST department and avoided paying taxes […]
Tupperware to reopen 40 pc retail outlets in India
Tupperware India, a premium homeware brand, on Thursday said it will reopen about 40 per cent of its retail outlets spread across 17 cities in the first phase. Tupperware India has launched 55 retail outlets across India after adopting a multi-channel approach from switching direct selling model. But, due to the coronavirus-induced lockdown, retail outlets were closed and Tupperware was […]