Govt gives extra time to 37 SEZ developers to execute projects

Uncertainty over whether new SEZs will be eligible for tax exemptions-which are proposed to be confined to existing units in the latest draft of the Direct Taxes Code Bill-have dampened interest in the tax-free enclaves

New Delhi: The government has given more time to as many as 37 special economic zone (SEZ) developers, including Navi Mumbai SEZ, DLF Commercial Developers and Tata Consultancy Services, to execute their projects, reports PTI.

At a meeting on 19th September, the Board of Approval (BoA) headed by commerce secretary Rahul Khullar also allowed five SEZ developers to surrender their projects. The BoA is a 19-member inter-ministerial body that deals with Special Economic Zones (SEZs) and related issues.

However, the developers surrendering their projects have to obtain a certificate from the respective Development Commissioners that "they have refunded all the tax/duty benefits availed under SEZ Act/Rules," a senior commerce ministry official said.

SEZ developers, including Maharashtra Industrial Development Corporation (MIDC) and Benchmark Realty, had approached the BoA to surrender their projects.

According to an industry expert, uncertainty over whether new SEZs will be eligible for tax exemptions-which are proposed to be confined to existing units in the latest draft of the Direct Taxes Code Bill-has dampened interest in the tax-free enclaves.

Other developers that got more time to execute their projects include Raheja SEZ, Parsvnath SEZ and Wockhardt Infrastructure Development.

It has deferred the extension of two applications-Peninsula Pharma Research Centre and Meditab Specialties-as the issues were sub-judice before the apex court.

The BoA also approved three new proposals, including one for setting up a sector-specific SEZ for the petroleum and oil and gas industry in Visakhapatnam.

Regarding the revision of guidelines for power generation, transmission and distribution in SEZs, the board gave two weeks' time to the Department of Revenue for its comments.

Under the SEZ Act, SEZ units get 100% tax exemption on profits earned in the first five years of operation, a 50% exemption for the next five years and another 50% exemption on re-invested profits in the following five years.

SEZ developers, on the other hand, get 100% tax exemption on profits for 10 years, which they can choose to invoke within the first 15 years of operation.

Merchandise exports from the 143 operational SEZs in the country totalled Rs72,255 crore in the April-June period, an increase of 23% over the same period last year.

User

Govt indicates it will ‘fast track’ decision on foreign law firms

Law minister Salman Khurshid assured UK's Secretary of State for Justice Kenneth Clarke that New Delhi will put the issue on fast track and give decisions quickly. UK is one of the several countries pressing for entry of their legal firms in India

New Delhi: Indicating that the government will soon take a decision on the issue of allowing foreign law firms to operate in India, law minister Salman Khurshid today said the concerns of the Bar will be addressed before taking a final call, reports PTI.

Perhaps in his first public remarks on the issue after he assumed charge of law minister in July this year, Mr Khurshid said there were 'some concerns' which needed to be addressed before taking a decision.

"Of course there are some issues that have to be addressed. There are some perceptions that are to be addressed more than the issues. There are some concerns that are to be addressed," he said addressing a seminar on UK-India cooperation on emerging legal issues here.

Mr Khurshid assured UK's Secretary of State for Justice Kenneth Clarke-present on the occasion-that New Delhi will "put your issues on the fast track" and give decisions quickly and "decisions which have quality".

He said two of his predecessors HR Bhardwaj and M Veerappa Moily have already delved on the issue in great detail.

UK is one of the several countries pressing for entry of their legal firms in India.

The minister said the government and the Bar were equally committed "to enhance the level of our cooperation and contribution in the most meaningful way for advancement of legal services in our two countries."

Besides some ongoing court cases on the issue, the Indian legal fraternity led by the Bar Council of India is opposed to the proposed move, fearing that they would not be able to compete with their foreign counterparts.

User

RMP Infotec—an MLM company—continues to grow while complaints pile up on the Web

RMP Infotec promises income, real-estate grants and car loans for selling product kits and binary income for referrals, typical traits of MLM schemes. Now will this scheme be stopped in time?

Speak Asia, a Singapore-based multi-level marketing (MLM) company made national headlines after it duped several people by promising easy income, merely for filling surveys. Despite this, many such companies continue to flourish; targeting gullible investors as regulators seems to be cocooned in a bubble.

One such company is RMP Infotec. Its business model is typical of any MLM company. It promises huge returns on buying its product kit and becoming a distributor by introducing two more investors to buy the same kits. The company is registered in Chennai and claims income on selling product kits and promises binary income.

The product kit costs between Rs6,990 to Rs48,000. The products range from energy-savers, vacuum cleaners and microwaves—to clothes and laptops. For instance, a kit named 'RMPEnergx+SuitLenght+Bio Energiser' includes a single-phase energy saver, premium length suit and a 'nano' health card. Surprisingly, its most expensive product is rated at Rs48,000, named as 'RMP Green City'—this claims that a plot of 1,200 square feet at Kancheepuram (known for its fabulous temples) near Chennai, will be registered in your name. Further, it promises referral income of Rs48,000 after registration of the plot.

A distributor has to introduce two people directly in his first level. If any one of these two also sells one kit, then the original distributor is eligible for an incentive. The commission is calculated on a pair value (PV) binary basis. In this case, the distributor should have at least 150PV in the structure, with a minimum of 50PV on both sides. Thereafter, every package sale of a binary pair will receive 100PV (1PV=Rs10). The maximum payout per week for a distributor will be 13,000PV (130 pairs). The sales close by the midnight of every Friday. It is important to mention that there is 'trimming' applicable if necessary, to the returns. This 'trimming' obviously refers to a cap on the returns that a participant in this scheme can make.

Experts say that the company's business is nothing more than an MLM model which is unsustainable and is bound to fail. Interestingly, the 'Customer Care' icon at http://rmpinfotec.biz/Policy/policy.aspx (where the company tries to explain its business 'model'), is not working.   

The company also claims to be into e-commerce, with various products sold at discounted rates. Here, each distributor is eligible for individual PV and up-line PV if the products are purchased. According to RMP, if a distributor achieves three continuous ceilings, he/she is eligible for a car loan of Rs1,00,000 as per company norms.

In fact, there are complaints against the company on consumer discussion forums on the Internet. "I have purchased an RMP Infotec product through my friend. It's (an) MLM type scheme and I have been cheated by it. I have purchased a water purifier and suit-length, etc., in 2009. But till date I just keep following up with them and nobody (from the company) reverts on the issue," reads a complaint on www.consumercomplaints.in.

Another complaint says, "I had also applied for an RMP Nagar plot in Mangao (Maharashtra). Till now, I have not got possession and a registration letter from RMP Infotec. I had tried many times to contact it regarding this issue, but RMP does not give any positive reply to me, all the time." This complainant also says that whenever he tries calling the company, he gets an answer saying that the person he has contacted is not the right person, among other issues.

It is high time such companies are made to stop their activities-before the whole issue blows up once again, like the Speak Asia affair. Moneylife has been constantly arguing that there should be an outright ban on MLM or pyramid schemes, as a number of countries have done, but the powers-that-be don't seem to be interested in taking any action.

User

COMMENTS

Reena Chudasama

5 years ago

Hi,

Some time last year I attended a meeting hosted by some people in Ahmedabad. It was termed as a recruitment meeting and there I met Ms. Sarita Sharma from Mumbai RMP who was a speaker in this meeting, the hall was full there was no place to sit and the speakers extolled the virtues of joining RMP and how their life had changed after joining RMP. After the meeting Ms. Sharma came to my house and coaxed me into joining RMP, she promised that she would help me fullfill the requirements of getting people in my downline and that I should take 2 ids worth Rs. 21000.00 which I would make up in a months time, yes I too was taken in by all the things said at the meeting and than by Ms. Sarita Sharma at my place, it being a Sunday and me not having the required cash at hand I offered to pay by cheque, she said that since the company did not accept cheque payment and since she had to return to Mumbai that evening I should borrow the money from someone, since I was not in favour of borrowing the money she said I could make out the cheque in her name which she would encash in Mumbai and pay cash to the company and that I would get my company ID and the products worth 21k in a few days. I was not very comfortable with the concept of the company and I did not think I would be able to contribute towards its growth so the next morning I called up Sarita and informed her that she should not encash the cheque and return my money as I was not interested in joining RMP anymore, she said that she had already paid the company and that I could not backout now even though during the meeting all the speakers had emphasised that the IDs were transferable unlike other programmes so I pointed it out to her but she would not hear of it. I tried talking to her for a day or two but then she stopped taking my calls so I went to my bank to ask for stop payment of the cheque but she had already encashed it. I then waited for my RMP ID which I have not received till date nor the products which she had promised me I doubt that she paid my money to RMP either I am not sure, I wrote to Mr. Vijay Shah who was the Regional Manager of RMP Infotec Mumbai but received no reply from him either. I am a widow with two sons and work hard for my living and that was my hard earned money, yes I was looking out for a get rich quick way and hence got into the RMP trap but who does not look out for such things. Please can someone help me get back my cash????????????????

Regards
Reena

raj madaan

5 years ago

Is RMP a registered company with MCA?

mathan kumar

5 years ago

good

Vijay Bhivasan Hiwale

5 years ago

Dear sir this company site is not login
do the need fully

Das

5 years ago

Kerala : Chain companies back with a bang!

“Honest corporate citizen” Amway and “Transparent” RMP are heavily advertising in the newspapers about their “compliance” of the new Direct Marketing Guidelines of the Government of Kerala.

The General public still doesn’t know what the guidelines are. Public is really worried as the Government seems to be hand in glove with MLM companies and the chain menace may once again engulf the state of Kerala.

REPLY

Kishore

In Reply to Das 5 years ago

Royal life MLM using Chief Minister's photo to intimidate investors.

The company officials met Oommen Chandy with the help of a local congress leader. They have posed for a photo and this photo is being is used to intimidate innocent persons who fell victims to the chain fraud.

(The company has become non functional after police action against chain marketing companies in Kerala)

(Mathrubhumi 24.10.2011 report)

http://www.royallife.biz/

JOHN

5 years ago

DIRECT SELLING GUIDELINES OF KERALA GOVERNMENT SAID TO BE ENACTED ON 12.09.2011 !!!

Amway advertisement says they are law abiding corporate citizen !

They say they have complied with the Direct Selling guidelines enacted by the Government of Kerala!

What are the guidelines?

Why the Government of Kerala conceal these guidelines from the general public?

Raj Madaan

5 years ago

I need some information from RMP admin . their customer care is not providing the same. I want those information through RTI, to whom I address the application?

REPLY

Raj

In Reply to Raj Madaan 5 years ago

Dar Raj Madaan,

RTI is applicable to the government offices only.

Raj Madaan

In Reply to Raj 5 years ago

Then I will never find the answer i have in my mind?

Raj

In Reply to Raj Madaan 5 years ago

No

vishal singh

5 years ago

did u know rmp in only company in direct se. field which is registered in FICCI. understand.!!!!!!!

REPLY

Raj

In Reply to vishal singh 5 years ago

Why FICCI registered company is not allowed to operate in the state of Kerala?

MNB

In Reply to vishal singh 5 years ago

recently DIG of Chennai started an investigation on RMP...

here is the report

http://www.mlmnewsblog.com/2011/09/rmp-i...

WORRIED CITIZEN

5 years ago

Request to right- minded Citizens of Navi Mumbai (Vashi, Nerul area)

It has been reliably learnt that the company named ‘PENTA WORLD INDIA’ is collecting deposits of Rs.1000/- from people. The other name of the above company is P.I. MARKETING. They are reportedly offering a commission of 150/- rupees or more for every 1000 rupees. This Kerala based company is a money chain company. Their offices in Kerala were closed by the Police. They have defrauded many innocent and gullible people in Kerala and Tamilnadu. As per their website [www.pentaworldindia.biz] they have a corporate!! Office in Navi Mumbai.

P I MARKETING PVT LIMITED / PENTA WORLD


Room No. : 1,2,3. Plot No. : 44,
Land View CHS
In front of Maratha Bhavan, Sector 15, Vashi,
Navi Mumbai
Maharashtra-400703
Tel:+91-222-7880120.
Fax: +91-222-788012

It is also learnt from reliable sources that now they are active in Nerul area. The following seems to be their address:
Address:
Suman Building (NEAR GAONDEVI MANDIR)
sector - 6, Darshan Darbar Road,
Nerul West,
Mumbai – 400706

I request all right thinking citizens of Navi Mumbai to be vigilant against money chain frauds and inform the police for taking action against them.


scamalert

5 years ago

http://scamalert.in/mlm-scams/steps-to-c...

Read about checking whether a MLM is a genuine or fraud

Vikas Gupta

5 years ago

I am also of the opinion that all these MLM Co.s should be totally banned in India. I also know similar Co. like INSTANT FOREX who had collected more than Rs. 17,000 per Id & ran away. Nobody from Media or Govt. side has initated any action till date.

REPLY

Omprakash

In Reply to Vikas Gupta 5 years ago

They will not initiate any actions against such company's because they cannot reach them, as result they cannot gain popularity. So when they know this fact, chose to remain silent.

Even I have written about wrong doings of a so called NGO in Bangalore, but they chose to remain silent because they know by initiating investigations and bringing the culprits they are not going gain any popularity.

But when it come companies like SAOL who are genuine and have kept their promise by paying all its panellists dot on time, they don't like that.

Their only intention is to trouble the people that is it. BLOODY HELL this is their journalism.

Raj

In Reply to Omprakash 5 years ago

Where are your Bosses? In a Singapore Jail or out in the open still defrauding innocents? I'm not talking about Tarak Bajpai - the poor guy who is surveying Tihar jail !!!

akku

In Reply to Omprakash 5 years ago

SAOL is genuine....LOLLLLLLL

ConcernedCitizen

In Reply to Omprakash 5 years ago

Mr Omprakash,
I will suggest you to spend your time in more productive activities and try to earn through hard work and not through fraud schemes.You seem to have a propensity to be a victim of get_rich_quick schemes.Still you have not learnt that there are no royal road to riches.You are just blaming journalists.


I am sorry to say you can write a lot of garbage without any substance.You have not yet given the name of the Bangalore NGO who defrauded you.

Omprakash

In Reply to ConcernedCitizen 5 years ago

Dear Concerned Citizen,

First of all, I am thank you for your valuable suggestion and I respectfully take it as sincere advice from a concerned fellow Citizen.

However, your assertion “royal roads to riches” is not true! Because being an NRI for last 20 years, it is not required to look at those options. Hence question of blaming genuine journalists doesn’t arise at all. But what I have commented is a true fact.

If you share your email, I can provide you the substance. Publishing on open forum would help the culprit to cover his wrong doings. Hope you understand.

Omprakash

In Reply to ConcernedCitizen 5 years ago

One more point (of get rich quick scheme) ............ gone by your point of view, earnings from Stock Market (specifically intraday trading) is also not right means!!!!

I think it is all individual's perception.

Raj

In Reply to Omprakash 5 years ago

Dear Omprakash alias Jo,

What is your opinion about RMP infotec?

Sandeep

In Reply to Raj 5 years ago

Hello all/ Raj,

RMP is one of the Direct selling company which got FICCI Certification, ISO, WTC certification.

i want to inform one thing, WTC will give its certificate to those company which are legal, which are following ethical rules and which can with stand more than 100 years operation in the industry. Direct selling is one of the emerging industry across globe, in Maleshiya there is a rule from there government if a person not in employment for more than 2 months then he / she should become a part of direct selling company to earn his / her income. pls do understand in coming days / years direct selling will rule india. i know many peoples will give negative opinion on my comments. but i'm just saying fact.

Jo

5 years ago

Why is Moneylife Foundation rewriting and brainwashing the public at large that speakasiaonline has duped its investors, what is the proof that the said company has duped its panelist, Any complaints registered before 15th May - 2011 is treated as a genuine complaint by panelist of not getting paid. As post 15th May- 2011, the media followed by politicians and government agencies allegedly let speakasia to temporarily suspend its operation in India leading 20 Lakh families of panelist to fend for themselves, Investigations are going on and no final judgment has been announced officially by the Hon'ble courts then why is the media judging things as they like... Trial by Media is extremely dangerous.. pl remember.

REPLY

Omprakash

In Reply to Jo 5 years ago

Dear Jo,

These so called journalists have literally raped journalism. I feel sorry to use such word, but they have forced me to do so. They think that, all panellists are fools! And they (ML & Somaya Kirit) only have the brain to think what is good and what is bad for us.

Obviously, their propaganda has caused lot of inconvenience to all of us (Speak Asians) and many poor panellists have lost their daily bread. But we all know, SAOL is genuine company and we all will continue to stand by it, in this exerted difficult time. Let these exerts BARK as much as they can. One fine day we will make them realise that, they were UTTERL FOOLS and a compendium of ridiculous minds!

Raj

In Reply to Omprakash 5 years ago

Dear Omprakash alias Jo,

What is your opinion about RMP infotec?

Jo

In Reply to Raj 5 years ago

Dear Raj
I'm not a member of RMP Infotec hence no opinion or comments ....:)

Omprakash

In Reply to Raj 5 years ago

I have no idea about RMP hence it is not appropriate to comment.

Nevertheless, one can see on its website that it has tied up with MSIL, which is a reputed brand and Government of Karnataka undertaking unit.

Omprakash

5 years ago

You are still continuing to be selectively targeting companies. It shows that, you do not have guts to expose seriously duping people. I did wrote you about HITECH BEGGAR PVT LTD company in Bangalore which proclaims to be NGO. But you did do anything.

This clearly shows that, you are morally and ethically corrupt to your profession. After all you are also an NGO and your actions have proved to be of falling in same cadre.

As one of the victims, I can only pray GOD to punish all such NGO's brutally for playing with emotions of innocent people.

REPLY

Raj

In Reply to Omprakash 5 years ago

RMP infoteck is a controversial company. Recently Govt of Kerala have taken very strong action against MLM companies and RMP infotech offices had to shut down their offices all over that state.

i don't know why are you accusing journalists for not writing about XYZ NGOs you dislike. The NGO you mentioned may be corrupt and if the journalists are convinced, they may write about them. But who the hell are you to dictate terms with them?

Omprakash

In Reply to Raj 5 years ago

Mr. Raj,

You are saying "who the hell you are dictate terms with them?" I think same applies you. When you are no one to me who the hell are you to ask me this question?

Remember only the journalist to whom I have written, has the right to ask me who the hell I am? Hope you understand what the fundamental rights of an individual is, and will try to behave like respectable human being.

When you don't know about that XYZ NGO I dislike, who are you to question me? Don’t you think it is better to understand the subject prior to using (writing) such a ridiculous word?

My dear god has gifted all of us (i.e. humans) one great thing that is "commonsense" please try to utilise it before jumping into a wagon. Otherwise, it is unnecessarily earning a bad repute to the parents. Hope you get it right.

For your kind information, I have nothing to dislike about any individual. But as human being I consider it is everyone's right and duty to address their bad experiences in a right forum in the greater interest of the humanity.

You also might be the ones of those many who will be donating some part of your hard earnings with an intention to help those who are in need of. More so when someone from an NGO approaches you saying he is collecting funds for some noble cause, and you voluntarily donated and requested some of your friend’s also to do so.

Later on one fine day you come to know that so called NGO which has collected money from you and your friends and many others, is misusing for their personal life (to live lavishly); how you feel?

Even after such incidents, you would still continue to donate in the future? Don’t you think, there many people who are really in need of such a donations. If people stop donating because of such ridiculous bugs in our society, don't you think it will affect those needy peoples life? When you approach him to question, what you feel when he threatens you with dire consequences? After such incident, would you still continue to donate whole heartedly? Just imagine when people stop donating, what will be condition of those who are in desperate need of help from people like us.

After becoming victim of that ridiculous bug, I collected full information about the culprit’s business model and then gave a complaint in the Police Station. But what kind of Policemen our country has is well known to all of us. For your kind information, that PSI assured me of proper investigation and when I checked after a week and he said just ignored it. Following day, I get call saying stop this nonsense otherwise will have to face dire consequences. Why PSI ignored my complaint? It is because he did not get a single penny from me! But what he got for ignoring my complaint is handsome amount from the culprit and he will keep on getting later also. He (PSI) is very well aware that I being an NRI, is not in a position to meet higher officials and even if I meet, no action will be taken.

Yes I also know my limitations, but I will not keep quite because, in the recent days Media has proved how powerful it is. It has brought many influential people to the books. So I consider it as my duty to bring it to everyone’s attention through this media so that, they do not get misused by such ridiculous bugs.

I also believe that, at least the one person who firmly believes in his professional ethics and principles and will do proper investigations about this so called NGO which is nothing but a HITECH BEGGING RACKET managed by an MBA graduate who has done his Masters in cheating and playing with emotions of innocent people.

I therefore will keep on writing about that NGO and its owner in each and every forum I deem it fit. Because, one fine someone will read it and start investigations, and finally brings this culprit bug to the books. If he asks my assistance, I will fly to India for providing necessary assistance (statements and documentary evidences) in the court of law so as court can send him to the place he deserves to be in.

It just requires a journalist who has the guts. If you are a journalist I ask you same question. Do you it in you?

Raj

In Reply to Omprakash 5 years ago

Dear Omprakash,

You are browbeating journalists for not writing about a "beggar" !. You may be the only "sensible" man living in this world. I agree. Here the discussion is about a controversial MLM company RMP infotech. if your "common sense" guiding you to change the topic from MLM frauds to NGOs it would just not happen - at least for now !!

R Nandy

In Reply to Omprakash 5 years ago

Omprakashji,
I google searched this "HITECH BEGGAR PVT LTD", but was not able to get any details or website of this NGO. Can you post any link or any detailed online complaints made by you? Did you try getting in touch with similar other aggrieved parties online?
FYI,you can complain over email to the Bangalore comissioner/ACP to look into the matter. I have the understanding that the complains if made with adequate proof(scanned copies of docs) will be looked into. I have seen even trivial traffic complains being followed up by the ACP's office.

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