Similarities in the problems faced by Amway and Speakasia


        
           
                 The PCMC (Banning) Act of 1978 is hopelessly ancient and unable to keep up with a fast changing world of internet and mobile phones and the ease of instant communication . In states like Andhra Pradesh this Act is used by some unscrupulous persons to attack any and every Multi level Marketing Company which has achieved some success .

                    Take the case of Amway India . In 2006/2007 around 7 FIR’s were registered against the company in various states including Andhra Pradesh (Corporate Fraud Watch) and Punjab . Amway filed a Writ petition in the AP High Court to Stay the investigation as they were not involved in Money Circulation as alleged in the FIR . The AP High Court passed a very damning order the gist of which was
– Scheme provides for sufficient inducements for its members to chase for new members to make quick easy money – By promising payment of commission on the business turned out by down-line members sponsored either directly or indirectly by the up-line members constituting a contingency relative to enrolment of members, first petitioner (promoter) is earning quick / easy money from its distributors apart from ensuring its distributors to earn quick/easy money – The two ingredients are thus satisfied in the case of promoter too – Held that the scheme run by petitioners squarely attracts the definition of ‘Money Circulation Scheme’ as provided in Section 2(c) of the Act..

                    Amway promptly filed an SLP in the supreme court which was dismissed by the SC with instructions to the CBCID to file their Chargesheet in 6 months and order that the Trial court should disregard the AP high court order. The chargesheet was filed in AP in 2008 . As of today 11th October,2012 the Trial is yet to commence . In the meanwhile Amway is continuing it’s business , giving Advertisements and sponsoring events as before . The logic behind this is that one is presumed innocent until proved guilty in the Trial Court.

                       I have cited the above example to show the similarities in the problems faced by Amway and Speakasia . However a glaring difference is the unprecedented Media attention on Speakasia and the motivated investigation of the EOW . But with the Chargesheet filed now in AP the EOW is now investigating on borrowed time and will have to stop soon . That should put all the problems faced by Speakasia to rest..

Thanks & Regards
Admin

Comments

Post a Comment

Popular posts from this blog

Writ 1127 Full update

Image
Writ 1127 which has been filed by the company’s legal team which is for claiming the admin rights and server for which a scheduled date is kept in this month…Indian Judiciary will decide as to whom the server will be given between the two entity – SPEAKASIAONLINE or HAREN VENTURE PTE LTD whomsoever is the authorized person to claim the server… Another most important thing that will be decided between the company and the Indian Judiciary that whether the entire payments will be cleared or just Exit payments will be cleared…for this Writ 1127 is important… It has also been observed on 25th June hearing was taken place in which there were some sealed envelopes which was submitted in High Court …now what was inside that sealed envelope it has not been revealed yet…and the envelope shall be witnessed by the Hon judge who shall justify many thing on the basis of sealed envelope submitted It has also been observed that all those big leaders or panelists who have earned Huge money
Read more

New Format Cheques to be valid from 31.12.2012

New Format Cheques to be valid from 31.12.2012 ‐   See details & benefits thereof       New Format Cheques CTS-2010 Standards will  be implemented from 1st January,  2013 details & benefits thereof CTS-2010 Standards implementation: Standardization and Enhancement of  Security Features in Cheque Forms,  the introduction and implementation of  additional security features on cheque forms will commence from 1.1.2013, this  Guidance Note will be called CTS-2010.  Important things on new cheque leaf are as follows...  A) Water Mark (to be incorporated at the paper manufacturing stage)  B) Void Pantograph ( at printing stage)  C)Ultra-violet logo of Bank(at printing stage)  D) Standardized field placements of a cheque  E) Cheque printing colours and background.  F) Microlettering.  G) New Rupee Symbol at CAR (Courtesy  Amount Recognition) amount in figure  field.  H) Printer Name along with CTS – 2010  What would be benefit of cheque truncation to cu Wh
Read more

THINK TO BE POSITIVE WP/1127 DISPOSED

Image
                 सभी मित्रो को नमस्कार, WP/1127/2013 की आज की सुनवाई मेँ माननीय कोर्ट ने जो फैसला दिया हैँ वह बहुत ही सकारात्मक हैँ लेकिन कुछ लोगो को यह फैसला बिलकुल नकारात्मक लग रहा हैँ ।                 अधिकतर लोगो का मानना हैँ कि EOW को बहुत लंबा समय दे दिया गया हैँ । जब मेने भी यह फैसला सुना तो मेरे मन मेँ भी एक पल यही बात आई थी कि EOW को वाकई बहुत लंबा समय मिल गया हैँ । लेकिन जब मेने ठंडे दिमाग से सोचा तो मुझे यह फैसला बहुत ही सकारात्मक और सुकुन भरा लगा । क्योकि रोज- रोज की तारीख से अच्छा हैँ कि एक लंबी अवधि ही सही लेकिन एक समय सीमा तो तय हो गई । अब किसी को बार बार अपडेट के लिये परेशान नही होना पड़ेगा , अब सभी लोग जान चुके हैँ कि चार्जशीट 16 दिसबंर तक जमा हो जायेगी ।
Read more