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23 Feb 2024, Edition - 3146, Friday

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QNET Refutes Allegations by Vested Interest Groups, Will Take Legal Action

by businesswireindia.com

Business Wire India

In response to allegations by self-styled activist, Mr. Gurupreet Singh Anand, QNET has refuted all the claims and said, “We are seeking legal recourse against the malicious and vindictive allegations of Mr. Gurupreet.”

QNET is not a Ponzi scheme: "Our distributors are not investors. We do not offer any passive returns or financial products, as alleged. An unqualified, alleged sum of Rs. 20,000 crore as a scam figure was quoted by Mr. Gurpreet Singh Anand. This has no basis in reality. Vihaan Direct Selling (India) Pvt. Ltd., the sub-franchisee of QNET in India is fully compliant to Indian laws. Any commission earned by our Distributors is based on the sale of products and the effort put in by the Distributors", said Rishi Chandiok, Regional Director (South Asia), QNet Ltd. 

In this regard we would like to highlight the observations of the Hon’ble High Court of Karnataka, in terms of a quashing order in favour of Vihaan (As of February 2017) – “Material of unimpeachable character pertaining to the activities of QNET have been produced before the Court. A perusal of the material and the charge sheet averments prima facie indicate that the activities of QNET and Vihaan i.e. the multilevel marketing companies, do not constitute offences under the Prize Chits and Money Circulation Scheme (Banning) Act, 1978. The activities of the company do not fall within the definition of ‘Money Circulation Scheme’”

We are a Direct Selling company that conforms to all statutory requirements. It is a matter of record that certain individuals have subjected us to various ill-guided prosecutions. However, we have successfully defended ourselves repeatedly against such vested individuals who continuously attempt to create a negative public image about QNET with various falsehoods and fake news. These unscrupulous people have filed hollow complaints to statutory bodies to malign our brand reputation.

Unqualified connection with P. Chidambaram and Zakir Naik:

QNET or any of its constituents have nothing to do with Zakir Naik or with Mr. P Chidambaram. Public record shows they have never had any commercial dealings with QNET or any associated company. There is no relation or connection whatsoever. This is vicious propaganda circulated by Mr. Anand to gain attention in the media. 

Unqualified connection with Indian celebrities:

We have stated this in many media reports that QNET has no contractual agreements with any celebrity to promote the QNET brand. Certain personalities in the past were invited to our company events as motivational speakers. Beyond that, QNET has no connection to any celebrities named by Mr. Anand in his allegations.

Source: Businesswire