MLM News in indian News Paper

Our team always keep an eye on current MLM market affairs. We study these news which enables us to serve better information to our client.

We have create this page for giving latest news and events of MLM Industry to our clients. It helps our clients in keeping a touch with MLM market current affairs. By studing these news, our client review their business and marketing modules.

Govt. asks states to ban multi-level marketing schemes

Source : The Indian Express, New Delhi - Mon Dec 03 2012 mlm news

Govt to block suspect MLM sites, payments

Source : The Indian Express, New Delhi - Thu Nov 08 2012 mlm news

New Regulatory framework for MLMs soon:Moily

Source : The Indian Express, New Delhi - Oct 10 2012 mlm news

Govt finalising rules for multi-level marketing companies, stop corporate fraud

Source : The Indian Express, New Delhi - Oct 10 2012

The government today said it is close to finalising new rules for multi-level marketing firms and is working on an early warning system to prevent corporate frauds.
The Serious Fraud Investigation Office (SFIO) -- under the Corporate Affairs Ministry -- is working on an early warning system that would help in preventing corporate frauds.
Corporate Affairs Minister Veerappa Moily said the SFIO has already set up a computer lab for this.
"This is part of the ministry's vision for having enlightened regulations," Moily said, while addressing the Economic Editors' Conference here.
The analysis wing of SFIO has come out with many reports and the ministry is acting upon that information, he added.
Besides, the ministry said the new rules for multi-level marketing companies have almost been finalised.
"We had a close discussion with the Department of Financial Services in the Ministry of Finance. The Act, the Prize Chits and Money Circulation Schemes Act (Banning) 1978, under which these activities can be controlled are under their purview," Corporate Affairs Secretary Naved Masood said.
"Together, we have decided that we should have new rules to prevent these companies from getting on with their nefarious activities," he added.
The new rules have been finalised and the RBI has been consulted on the same, Masood added.
Further, he noted that the Registrars of Companies (RoCs) have been asked to be "very very alert about the activities of these (multi-level marketing) companies, particularly where they give advertisements etc..."
SFIO is already investigating alleged scam at SpeakAsia, which is registered in Singapore. The ministry had ordered the probe into it early last year.
On the amendments to the Competition Act that were recently approved by the Cabinet, Moily said it would help in making the Competition Commission (CCI) more effective. The amendments also propose a healthy relation between the CCI and other sectoral regulators, he added.
"Sectoral regulators will be required to compulsorily refer issues concerning competition which arise within their jurisdictions to the Commission with a corresponding responsibility on the Competition Commission to refer any issue relevant to the jurisdiction of a sectoral regulator to that regulator," he noted.
Further, Moily said the amendment seeks to enable laying down different thresholds for different classes of enterprise to attract the jurisdiction of the Commission in matters of acquisitions and mergers.
"The measures recently announced to accelerate the pace of reforms has not only sent a positive signal to the corporate sector but also augur well for the economy as a whole," the Minister said.

87 companies under scanner for multi-level marketing schemes

Source : The Indian Express, New Delhi - Thu Nov 29 2012

A total of 87 companies have come under the government scanner for allegedly running illegal multi-level marketing (MLM) investment schemes and seven of them are being probed for possibly serious frauds.
The government has ordered inspection of accounts of remaining 80 companies for any violation of company regulations, Corporate Affairs Minister Scahin Pilot informed Lok Sabha in a written reply.
Most of these companies are located in West Bengal and Tamil Nadu and one company registered outside the country doing business online in association with some Indian companies, he said.
Pilot further said that Ministry has ordered Serious Fraud Investigation Office (SFIO) to probe into the affairs of seven companies.
Besides, SFIO has also been ordered scrutiny of balance- sheets of the remaining 80 companies to ascertain whether the firms have violated the provisions of the Companies Act.
Raising of funds through money circulation scheme is an offence under the Prize Chits and Money Circulation Schemes (Banning) Act 1978.
The Act is administered by the Department of Financial Services through the state governments.
Recently, Finance Ministry in consultant with RBI have circulated model rules to be notified by the states.
In order to protect the interest of small investors, various awareness programmes are being conducted regularly by the ministry in coordination with the trade and industry association and professional institute such as Institute of Chartered Accountants of India (ICAI), Institute of Cost Accountants of India.

Mob: 9251400233,9829900233
Mobile No
MLM Software
MLM Website
Cheque Printing Software
ePin System
Mobile Apps
Customer Care
mlm software web site samples

Basic Plan Rs.15,500/- , Silver Plan Rs.45,000/- , Gold Plan Rs.75,000/- , Mobile App Rs.20,000/- Limited time offer*