Amway India made a turnover of Rs 2288 crore for the fiscal year 2012 with growth of over 20 %. In 2012 Amway did Rs 100 crore business from Gujarat, against Rs 85 crore in 2011 and Rs 67 crore in 2010. Sandeep Prakash, Associate Vice Head of state, Amway India West stated, “The double-digit growth […]
Kerala Government Soon To Pass Bill To Regulate MLM
Soon Kerala will become the first state to pass law on MLM industry in India. The bill on MLM will be presented in the assembly in coming session. All the aspects related to the control and the operations of MLM companies in Kerala has been discussed and same to be presented in the assembly during […]
Government conducting probe against 154 companies, Sachin Pilot’s Reply to Rajya Sabha
The central government is probing grievances of financial scams against 154 companies, which also includes those connected with Saradha Group and Rose Valley Group, Parliament was informed today by Sachin Pilot. In a written reply to Rajya Sabha, Sachin Pilot said ” We received complaints against 154 companies/organizations during the last 3 years,” Pilot stated his […]
Mizoram Direct Marketing Limited has No connection With Mizoram Government
Finally, Mizoram government disowned Mizoram Direct Marketing Limited, a company which claimed itself to be a state government’s joint venture with RMP Infotec. A strict disciplinary action would be taken against the senior IPS officer, who is said be behind all this. A disclaimer issued by the chief secretary’s office said Mizoram Direct Marketing Limited, signed up […]
Ponzi Schemes Vs direct selling companies
There are few things to keep in mind while differentiating between a ponzi scheme and a direct selling company. As per Wikipedia, the definition is given below. Rest in detail, you can read the points to understand more about ponzi schemes and direct selling companies. As per Wikipedia, A Ponzi scheme is a fraudulent investment […]
StockGuru India Mastermind Jailed, Wife is Already In Jail
StockGuru India mastermind Lokeshwar dev jain was sent to jail in Ratnagiri, Maharashtra. Priyanka Saraswat Jain, wife of the accused has already been jailed two days ago on same charges. On production warrant, the local police arrested the accused of StockGuru India and brought them to police station from Tihar jail. ASI, Om kumar, said” the accused couple […]
Mary Kay Exits India Pointing Out Regulatory Concerns & Poor Sales
Direct selling brand Mary Kay India finally ended its Indian operations pointing out regulatory concerns and due to the slow growth from the very beginning. Mary was also a member of IDSA. Same development news was also communicated to the suppliers and also to the Mary Kay representatives in India. Mary Kay Inc stated: “We have […]
SpeakAsian Vivek Sharma alias Aman Azad’s Anticipatory Bail Plea Denied
The Bombay high court on Friday rejected the anticipatory bail application of Vivek Sharma, who is also called with a nick name, Aman Azad in the SpeakAsia fraud case. He started as an agent for SpeakAsia but later on, he ended up earning lot of money through SpeakAsia fraud. The court also asked the police […]
Beware Of These Dialy Frofit,Forex & High-Yield Investment Program Companies
The names of companies given below are of serious fraud nature. All these companies are either based on Forex, HYIP and so-called helping plans like defunct MMM India. Names of companies with high risk Unviable Business Plan: .net https://globalbestinvestment.com http://www.fundachiever.com http://www.richbyhelp.com http://4fxmoney.net http://www.worldumaxclub.com http://www.worldumaxclub.com http://www.futuretrade.in http://safehelpindia.com Few things you should keep in mind, while investing […]
IDSA & Members Seeking Cilarity on MLM Regulations
In order to get legal sanctity and recognition from both central and state government authorities, the Indian direct sellers like Tupperware, Amway, Oriflame and their association body IDSA might quickly approach the commerce ministry in coming days. Right now direct selling sector is of Rs 7,000-crore in India with 18 companies who are promoting through direct […]
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