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Direct-selling company Amway India said its MD and CEO William S Pinckney has been released on bail, two months after his arrest by Andhra Pradesh Police in connection with criminal cases registered against the firm in the state.
Amchem said that Amway is a direct selling FMCG company that uses multilevel marketing to sell its daily use products through independent distributors, instead of from a shop or a mall.
The case in which the action has been taken was filed in December, but the company said that it had no prior information on it.
In 2013, weeks after getting bail in a case of alleged cheating in Kerala, Amway India's then managing director, William Scott Pinckney, declared that the company was aiming to hit revenues of Rs 10,000 crore in India in a decade. Fast forward to 2021, and Milind Pant, Amway's global CEO, announced that the company has designated India as one among the top three markets for growth and investment (after US and China), and is now looking at hitting revenues of Rs 20,000 crore over the long term.
The arrests were made on a complaint of a woman who claimed to have incurred loss through the network.
They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by two persons in 2011.
Amway maintains the action was related to a case in 2011 and it has been cooperating with the investigative agency.
Compliance costs and legal scrutiny could rise.
He said action was akin to holding highway builders responsible for lane violations
The four major Hindi general entertainment channels -- STAR Plus, Sony, Colors and ZEE -- have all launched music and dance reality shows in the 9-pm slot on weekends.
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