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 […]
Netsurf Launches three New products under its Healthcare range ‘Naturamore’
Netsurf Network, India’s leading direct selling company has introduced 3 new herbal and organic healthcare supplements under its healthcare category ‘Naturamore’. The Naturamore range comprises of nutraceuticals that are designed to help achieve a healthier lifestyle. Netsurf Network has a consumer base of more than 2.5 Million and more than 60 products across various categories […]
Amway India to concentrate more on immunity-boosting, nutrition products
Amway, which is taking a look at its ‘portfolio’ in India as part of planned global investments, is studying how to readjust the portfolio more towards immunity, nutrition in the country Amway India also expects its business to come back to at least 80-90% of pre-lockdown levels by July With the increased demand for immunity […]
Coronavirus outbreak a right time to revisit Ayurveda wisdom on prevention: Amway CEO
Amway, which counts China as its largest market and was allowed to run its factory in Guangzhou to produce its ‘Nutrilite’ health products although others in manufacturing sector such as cars and electronics have been shut, believes India could also consider building long-term immunity and a healthy society as the Chinese have done. Crisis like […]
3000 crores cheated from 1.75 lakh investors, ED raids 12 locations of bike boat company
On Saturday, the Enforcement Directorate raided 12 locations in Lucknow, Delhi and Noida of the Bike Boat Taxi Company. The company defrauded millions of investors by running a bike taxi service on the lines of Ola and Uber. During the raid, many important documents linking the company to money laundering were found. The Bike Boat […]
Amway India Appoints Ajay Khanna as Chief Marketing Officer
Khanna has taken over the reins from Sundip Shah and will will report to Anshu Budhraja. Ajay Khanna joined the organisation in 1998 and donned many hats in various capacities Direct selling FMCG company Amway India has appointed Ajay Khanna as the chief marketing officer. With over 24 years of experience in the FMCG and […]