Meanwhile, the Supreme Court order is supposed to further boost the direct selling sector in India. The court ruled that the model chosen by the company is not a system of money circulation and does not fall within the scope of the Money Prices and Circulation (Prohibition) Act 1978. QNET is active in sports sponsorship worldwide, including football, badminton and more, as the company firmly believes that the dynamism, passion and teamwork of the sport are equal to those of QNET. QNET recently signed an exciting new partnership with Manchester City Football Club (MCFC) as Official Direct Distributor for three years. For more information, visit QNET`s website at www.qnet.net The court also granted bail to Michael Ferreira and Malckolm Desai, Vihaan`s Indian shareholders who have been in jail for about six months. Highly independent and user-friendly personal finance information. Further information, facts and figures about QNET can be found here for the QNET overview. The College comes at a crucial time and supports these elements for the time being. The Supreme Court`s order comes shortly after the Karnataka High Court approved the quashing of charges filed by the CID in Bangalore. It should be noted that the Honourable Justice Anandbyra Reddy categorically stated that QNET is not a Ponzi scheme and that the company conducts legitimate activities in its detailed order. It should also be noted that the Honourable High Court of Telangana and AP had stayed all proceedings against the company at the end of 2016.
The order comes at an opportune time in the context of the standard direct selling guidelines issued by the Ministry of Consumer Affairs for the proper functioning of direct selling companies in India. Commenting on the development, Raj Vasudevan, General Counsel of QNET, said: “This order is a justification that we have been looking for for over 3 long years. This comes at a very opportune time as the government tries to build confidence in this industry by introducing the model direct selling guidelines. Highly independent and user-friendly personal finance information. Full access to Moneylife`s archives from inception (until the date of your subscription) Globally, the size of the direct selling industry is set at $183.7 billion, with more than 100 million people involved. Asia Pacific accounts for 46% of global direct sales, followed by the Americas (34%), Europe (19%) and Africa-Middle East (1%). The Supreme Court also stayed any new proceedings in the 19 FIRs against the company across India. Subsequently, several baseless allegations were made against QNET`s products and business model.
Former billiards world champion and Padma Award winner Michael Ferreira, shareholder of Vihaan, the Indian branch of Qnet. “Direct selling means the marketing, distribution and sale of goods or the provision of services as part of a direct selling network that is not carried out under a pyramid scheme,” the guidelines state. In principle, it has also granted bail to its Indian shareholders Michael Ferreira and Malckolm Desai. QNET, which has been under investigation since 2013, sees this positively. 29 Years Of The Scam: The Perennial bestseller, reads like a thriller! #Scam92: Read the real story. The company says it operates a legitimate direct selling business and promotes a wide range of innovative, high-quality health, wellness and lifestyle products through its proprietary e-commerce platform. QNET is also a strong advocate of ethical marketing practices in network marketing and is committed to the sustainable development of the industry in India. We migrated to a new feedback platform. If you are already a registered user of The Hindu and logged in, you can continue browsing our articles. If you don`t have an account, please sign up and log in to post comments.
Users can access their older comments by logging into their accounts on Vuukle. Hong Kong-based direct selling conglomerate Qnet, which has long been involved in regulatory and criminal proceedings in India, received great relief as the Supreme Court ordered the stay of all subsequent proceedings against the company and its sub-franchisee Vihaan Direct Selling. Pathbreakers 1 & Pathbreakers 2 contain in-depth information, unknown facts, and fascinating events in the lives of 51 of the top performers, in their own words. QNET, one of Asia`s leading direct selling companies, offers a wide range of luxury and life-enhancing products offered to customers and distributors in more than 100 countries through its proprietary e-commerce platform.