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By Express News Service - KOZHIKODE
10th November 2012 09:21 AM
The Economic Offenses Wing of the Crime Branch, Kozhikode, raided the offices and godowns of Amway in Kochi, Thrissur, Kozhikode and Kannur and seized products worth `2.14 crore. CB has registered a case against directors of the company and have sealed the godowns. The case was registered after receiving complaint from a woman who was allegedly cheated by the multi-level marketing company. Economic Offenses Wing, CB officials said, the case against Amway has been registered under sections of the violation of Prize Chits and Money Circulation Schemes (banning) Act. Crime Branch received a complaint from
Vishalakshi, a native of the city, who bought products worth `3 lakh,was asked to sell them through multi-level marketing. But since she could not sell them, the money was not returned. The case has been registered against directors of the company who reside in New Delhi. During the raid, officials seized products worth `1.5 crore from Thrissur, `32 lakh from Kochi, `10.5 lakh from Kozhikode and `22 lakh from Kannur.
The office of the network marketing company, Amway, at Kannothumchal in Kannur was raided by the Economic Offences Wing. The team led by DySP L Surendran and Circle Inspector K Pradeepkumar conducted the raid.
Sources said that they had received information that Amway has made business worth `43.4 crore this year.
Copyright © 2012 The New Indian Express. All rights reserved.
Comments(22)
amway is a MONEY CHAIN......the chain money is hidden in the price of the 'PRODUCTS' that new members buy and sell approx 70% of product PRICE is the commission money which goes to seniors,even upto usa.
Posted by pullokadansrony at 11/12/2012 13:28 Reply to this Report abuse
Surprisingly, neither the complaint forming basis of the raids nor other facts given in the article justify the kind of action taken by the enforcement agencies. Apparently, either something material has been missed out or the enforcement agencies have simply over-reacted.
Posted by Rajesh Jain at 11/12/2012 22:53 Reply to this Report abuse
Amway & Monavie are legally operating Direct selling Companies. Instead of taking actions against hundreds of illegal money chain schemes & other mafias operating in kerala, police is taking action against these companies!!
Posted by Girish at 11/13/2012 19:25 Reply to this Report abuse
If any good thing functions successfully in India then people who are unsuccessful always try to crush such good things like AMWAY.AMWAY is a legal business concern and the people of India have realised the same. so i will advise all Indians to relax and build the AMWAY business by the help of educational system to achieve their DREAMS.........
Posted by DHIRENDRA KUMAR GAUDA at 11/15/2012 10:45 Reply to this Report abuse
Amway & Monavie are legally operating Direct selling Companies. Instead of taking actions against hundreds of illegal money chain schemes & other mafias operating in kerala, police is taking action against these companies!!
Posted by CITU MMEU at 11/18/2012 15:00 Reply to this Report abuse
As far as my knowledge goes Amway is a legal company. Its parent organisation Amway Corporation was started in 1959 at Ada Michigan, USA. Now the company is operating in more than 92 countries. Amway India started it building its infra-structure in 1995 as early as 1995. As per the guide lines of FIPB, (Foreign Investment and Promotion Board) it invested Rs.171 Crores in India. Technology was imported to the Manufacturing Units by investing Rs.17 Cores !!! It started to market products only in 1998 May 5th after establishing all necessary offices in various parts of India.......... People who blame the company as illegal have not at all seen the BUSINESS PLAN....... Amway is not a CHITTY COMPANY (Chit Fund Company) ... It is a TYPE 3 perfect business..... Type 1 biz refers to traditional biz like tata, birla, reliance etc...Type 2 means - All Franchisee biz like NIIT, KFC,McDonalds, Professional Courier Service etc... TYPE 3 BIZ uses the SYNERGISM of FRANCHISING & NETWORK MARKETING.
Posted by Sreenivasan at 11/19/2012 12:16 Reply to this Report abuse
What a fantastic message !!!!!!!!!!!!!!!!!! only thing , Mr. P A valsan never understand this?????
Posted by vinod at 11/20/2012 02:52 Reply to this Report abuse
[!User Complaint!] First of all the SP mentioned here is not at all aware of what a direct selling company is, he doesn't have the knowledge to distinguish between a direct selling company and a money chain. The SP himself seems part of a larger consiracy/ deal making to make benefit by falsely implicating innocent people who makes money. Unfortunately, this is the only way they know how to make money
Posted by Deepu at 12/17/2012 18:32 Report abuse
Awsome reply Sreeni, AMWAY is transperant company and running GLOBALLY !!!
Posted by Devidas at 12/27/2012 21:30 Reply to this Report abuse
this is perfectly true. Amway is the second largest company which has produced a number of billionaires. The police have to look into the business plan and act accordingly.
Posted by s.jeyaraman at 03/24/2013 22:04 Reply to this Report abuse