Hyderabad: As the Cyberabad police issued notice to several top Bollywood actors and cricketer Yuvaraj Singh in QNet cases, the direct selling company on Thursday clarified that it does not have any brand association with them.
“We confirm that some film personalities have attended our international events as guest speakers in the past. QNet has no further association, brand endorsement or agreement with any such personalities,” said the multinational company which operates in India through its franchise Vihaan Direct Selling.
It termed as “baseless” the allegations that it was operating an illegal money circulation scheme or it was banned.
The company issued a statement following reports that Cyberabad police served notice on Shah Rukh Khan, Anil Kapoor, Jackie Shroff, Boman Irani, Vivek Oberoi, Pooja Hegde and other celebrities to appear before the Economic Offences Wing to explain their association with Hong Kong-based QNet and Vihaan Direct Selling, which are facing the charges of cheating.
“The company does not operate any form of investment scheme. The company offers a number of high quality products and services through its e-commerce platform and the customers who choose to become independent representatives of QNet, earn commissions through sale of products,” said the statement.
Vihaan has approximately 6 lakh Indian customers registered in its database with audited revenues for 2017-2018 at Rs 624 crore, it said, adding that Vihaan operates in full compliance of the direct selling guidelines issued by the Central government’s Ministry of Consumer Affairs, and the Telangana State Direct Selling guidelines.
The company termed as “false” allegations of illegal money circulation scheme and duping of 20 lakh investors, and laundering of Rs 20,000 crore.
Strongly objecting to “false” statements by the Cyberabad police, QNet said neither it nor Vihaan were banned by any court of law in India. A decision of the Karnataka High Court recently determined that QNet is in no way a ponzi scheme, but a legitimate direct selling business.
It pointed out that on January 27, the Supreme Court ordered that no coercive action be taken in any of the FIRs filed by the Telangana Police. The Telangana High Court on February 1 ordered the state of Telangana, the Commissioner of Police of Hyderabad, and the Commissioner of Police of Cyberabad, to refrain from taking any action against the distributors of QNet.