http://www.monitor.sblinks.net Dofollow Social Bookmarking Site 2017 Wed, 09 Nov 2022 10:14:37 +0000 en http://www.monitor.sblinks.net/News/indusviva-sets-remarkable-example-indusviva/
IndusViva Healthsciences Private Limited is a legal direct selling company established in 2014, registered under the Companies Act 1956. It follows the Central Direct Selling Guidelines 2016 and abides with the laws of the land in its conduct of operations. The company has over eight lakh direct sellers associated with it and their actions are closely watched by the company and the State Government approved Nodal authority. The company markets world-class wellness supplements that have a huge customer fan base. Despite the covid-19 crisis, the company made no layoffs or didn't make any slab in any payments; nor dues. The company has been keen on keeping the records correct and flawless.

IndusViva, a Direct Selling company in Bangalore, created history on 26th July 2021.

On 26th July 2021, the Hon'ble High Court of Telangana had issued an interim order to continue the business, defreeze bank accounts and release seized goods which were earlier held by the Cyberabad police, The court also set aside an impugned PD order on the important people of the company on 27th September 2021.

IndusViva claims that they will always be loyal to India and will serve the nation and its needs right, providing the best platforms to anyone who wishes to associate as a direct seller or as a customer. IndusViva has protected its direct seller's rights to sell their exclusive products from the giant company Amazon and the defamation made by Media giant Asianet. It made its comeback faster with colourful success to protect its direct sellers from going back in time where they struggled to earn a living.

IndusViva has a way of gaining trust of its people; they walk the talk like no other. Their commitment has always been permanent. Throughout these 7 years, IndusViva has proved that it stands not just for the nation but for everyone across the globe. They took the business to the United States, and become the first one to do so from India in this industry. They paid an aggregate of 200 crores as tax and embellished their loyalty to the nation. They took people closer and guided them in the right way during the pandemic, so that the associates can enjoy making a livelihood, in a better way. IndusViva has set the standards of direct selling in India high. Their strategy during pandemic, especially in the prolonged lockdown, which helped them to come back to regular business volume, shows their ability to bounce back and strength of adaptability to any crisis. ]]> Wed, 09 Nov 2022 10:14:37 +0000 indusviva News 1 http://www.monitor.sblinks.net/News/indusviva-sets-remarkable-example-indusviva/ http://www.monitor.sblinks.net/News/hc-stays-ed-attachment-of-indusviva-assets-indusviva/ Hyderabad: The High Court of Telangana asked the Enforcement Directorate to cease the proceedings of Adjudicating Authority to confirm the provisional attachment on the assets of IndusViva Healthsciences Pvt Ltd.

The ED had provisionally attached the assets of the Bangalore based Healthcare company, who sells their products through direct selling. The ruling was passed by the bench consisting of Chief Justice Ujjal Bhuyan and Justice CV Bhaskar Reddy in favour of the petitioner, in a writ filed by Mr Abhilash Thomas, the CEO of the company.

The court considered the arguments of the petitioner that the ED failed to comply to sub section (3) of section 5 and (2), (3) and (5) (b) of section 6 of Prevention of Money Laundering Act.

Early last year, Economic Offence Wing of Cyberabad Commissionerate had initiated a probe against the company based on an FIR filed at Gachibowli police station followed by two more upon which the ED's case was established, and paused the daily operations of the company and froze the bank accounts. Later in July 2021, the High Court of Telangana permitted the company to de-freeze the accounts and continue their operations.

This order has come as a big relief for not only the company but also the entire direct selling industry, especially when a lot of confusions are floating around after the Consumer Protection (Direct Selling) Rules 2021 was issued. "This will boost the trust of lakhs of aspirants who want to choose direct selling as a career. We understand that the investigating agencies are performing their role and we are always ready to cooperate with them. We have 100% belief in the judicial system of the country," said the company sources.
]]> Wed, 09 Nov 2022 10:12:56 +0000 indusviva News 1 http://www.monitor.sblinks.net/News/hc-stays-ed-attachment-of-indusviva-assets-indusviva/ http://www.monitor.sblinks.net/News/follow-norms-while-setting-up-pmla-panel-indusviva/
HYDERABAD: The Telangana High Court said the appointment of Adjudicating Authority under Prevention of Money Laundering Act (PMLA), shall follow the guidelines under Section 6 of Act. The authority should comprise more than one member and one of them must be a judicial member.
The court observed that unless the adjudicating authority was constituted as per the provisions of the PMLA, then there would be no legality and validity to the proceedings initiated by the said authority.
A division bench of the High Court was dealing with the petition filed by Abhilash Thomas, CEO of the IndusViva Healthsciences Pvt Ltd. He challenged the provisional attachment of the properties of the company by the Enforcement Directorate (ED) and requested to set aside the notices issued by the adjudicating authority under PMLA, which was to confirm the attachment of properties within 180 days.
Earlier, based on an FIR filed at the Cyberabad police commissionerate on charges of flouting the rules of consumer protection (direct selling) of healthcare products to the tune Rs 1,500 crore through the multi-level marketing, the ED had initiated provisional attachment orders. Later, it forwarded to the adjudicating authority under PMLA to get the approval of attachments, which is statutory.
When the adjudicating authority issued notices to the firm, its management approached the High Court challenging that the said authority was not constituted as per the rules of PMLA. They brought to the notice of the court that there was no judicial member in the authority and only one person was chairing the authority.
Going through the records, the court stayed the proceedings initiated by the adjudicating authority. But, the High Court did not agree to the request of the IndusViva Pvt Ltd to stay the provisional attachment of properties belonging to it, made by the ED. ]]> Wed, 09 Nov 2022 10:11:17 +0000 indusviva News 1 http://www.monitor.sblinks.net/News/follow-norms-while-setting-up-pmla-panel-indusviva/ http://www.monitor.sblinks.net/News/telangana-high-court-order-puts-question-mark-over-ed-attachments-|-hyderabad-news-indusviva/ The petitioner has challenged the ability of the adjudicating authority to come to a valid decision as it was working without the full quorum.
The ED had attached the assets of the company in cases related to multi-level marketing and is waiting for the attachment to be confirmed by the adjudicating authority.
A bench of Chief Justice Ujjal Bhuyan and Justice C V Bhaskar Reddy heard the plea filed by CEO Abhilash Thomas and found prima facie force in the argument of his
counsel Mayank Jain who contended that the adjudicating authority under PMLA should be a bench and not merely a single officer with no judicial experience.
"An adjudicating authority confirms or rejects attachments made by ED. His actions will have penal consequences for parties involved. Hence, the adjudicating authority must comprise at least two members. One should be a member (judicial) and the other should be a member technical. In the current case, the chairman of the adjudicating authority (non-judicial member) is hearing the case and there is no judicial member. In fact, a non-judicial member cannot become chairman," Jain said.
The bench, however, said that it was only staying the proceedings before the adjudicating authority and not the attachments for now. But all the orders passed by the adjudicating authority are now under a cloud and are likely to be challenged in future on grounds of lack of quorum. ]]> Wed, 09 Nov 2022 10:10:19 +0000 indusviva News 1 http://www.monitor.sblinks.net/News/telangana-high-court-order-puts-question-mark-over-ed-attachments-|-hyderabad-news-indusviva/