Global Direct Selling Company Qnet Ltd. will not pull out from India, said the founder and executive chairman of the QI Group of Companies Vijay Eswaran.
Attributing the group’s decision to stay on to “a wave of good feelings” towards business in India with the recent change of government there, he said India still remains a logical target market for the group.
Hong Kong-based QI Group is a conglomerate whose flagship company, QNET, is in the business of Direct Selling in several countries across the globe.
The Times of India, in a series of articles in 2013, had reported that QNET India was being probed for allegedly duping thousands of investors by selling them plastic and glass products that it claimed could cure diseases like cancer. According to the report, the probe came about after someone filed a First Information Report (FIR) against the company at the Economic Offences Wing of the Police Department in Mumbai. Five people, including Eswaran were reportedly named in the FIR, the report said, adding that arrests were expected soon.
In an interview with The Edge Weekly, Eswaran denied the fraud allegations, dismissing them as indicative of corruption and poor journalistic standards in India, adding that the group would

Read more...