The Act bans all illegal money circulation schemes.
It does not regulate the direct selling or MLM industry.
Vihaan is clearly registered with the RoC as a direct selling / MLM / network marketing company that will promote its business in India through a network of IRs.
Why is QNet banned?
The Bombay High Court while rejecting anticipatory bail applications of five accused in the multi-crore QNet scam, has observed that “the deceit and fraud is camouflaged under the name of e-marketing and business”.
What is vihaan direct selling India Pvt Ltd?
Vihaan Direct Selling (india) Private Limited is a Non-govt company, incorporated on 10 Oct, 2011. It’s a private unlisted company and is classified as ‘company limited by shares’. Company’s authorized capital stands at Rs 10.0 lakhs and has 100.0% paid-up capital which is Rs 10.0 lakhs.
Where is QNet banned?
Kuna also said that QNet has not been banned in any country. “In Saudi Arabia, the government issued a ban on direct selling and network marketing industry as a whole. QNet was not singled out,” Kuna said.
Is Binary MLM legal in India?
MLM is legal in India. MLM as Direct Selling or Network Marketing is legal. Money circulation MLM wherein there is no real product involved is illegal.