MLM / Chain Money
QNet: The “money game” played by MLMs to lure the gullible

QNet, the controversial MLM company is luring executives and professionals by promising a weekly income of Rs27.7 lakh. Do the math… this is about the salary that Mukesh Ambani, one of India's highest paid CEOs earns. Yet, this patently exaggerated claim by QNet is ensnaring people to invest their hard-earned money on the fake promise of an enormous wealth. Meanwhile, the company seems to operating under several different names that are designed to hide a trail to its operations

QNet, the controversial, Hong Kong-based multi-level marketing (MLM) operator with multiple names (GoldQuest, QuestNet, QNet, QI Ltd and QI group are the better known names) and identities seems to be working on a clear plan to hide the trail of its Indian operations. Interestingly, worried investors and bloggers or those burned by the pyramid marketing business are doing an excellent job of tracking its operations and publicising them. Here are some such trails gathered through helpful bloggers like Sherwette Mansour from Egypt ( ).


According to Wikipedia, QNet’s business model has been described as a simple pyramid scheme, where initial entrants to the scheme do make money, but as the number of IRs increase, finding more independent representatives (IRs) becomes harder and harder, until those that join late are unable to recover even their initial outlay and the model collapses. QNet counters this explanation as offering a business opportunity that doesn't have the high cost of start up as a limiting factor. When an IR recommends the product, the customer makes a purchase through QNet’s online system and the IR receives a commission based upon QNet’s compensation plan.


The compensation plan operates by the recruitment of customers by the existing IR. An IR is provided with an ID that gives access to a “Tracking Centre” (TC) in its computer system through which the IR’s sales are tracked. A TC has a left and right customer group. Every customer owns a TC which is then placed on the left or right customer side of the IR’s TC. A ‘direct’ transaction (a customer’s personal reference or sale) is counted as one transaction. An “indirect transaction (someone in the customer’s TC buys/refers/sells) is also counted as one transaction. QNet pays $250 each time three product sales on an IR’s left customer group are matched by three product sales on the right,” says Wikipedia.


According to Mr Mansour, the blogger, if you are being paid for every six new people you recruit, by 13th level down you would exceed the population of Earth. He uses example of his home country Egypt. He says, “By level 11, you will exceed the population of Egypt. So, I am assuming that the business flourish and reaches level 10, which will have 60,466,176 (6.04 crore) people. Let’s assume that all these people will join the business, keeping aside the fact that Egypt is a POOR country and not everyone can pay an average of $1,000 to join the business. By level 9, the last level making profit in the country assuming everyone will join, an average of 60,466,176x$1,000 = $60,466,176,000 ($6,046.6 crore) is sent outside the country for all members in level 9 to make profit. Please do keep in mind that this number of people entering the business is almost impossible because a small percentage of Egyptians can actually afford to pay an average of $1,000 to join the ‘business’.”


To read more about QNet on our wesbite, click here.


Here are the repeat sales points (RSP) and its cash and business volume (BV) equivalents provided by QNet in its FAQs for India...

Image source-QNet FAQs for India


QNet says, its IRs can achieve rankings like Bronze Star, Silver Star, Gold Star, Platinum Star and Diamond Star, depending upon, how much he and his network or down lines sells.


Image source- QInfinite Compensation Plan for India


QNet claims that a Diamond Star can earn up to Rs27,73,800 (Rs27.7 lakh) per week while the same for a Platinum Star would be Rs22,39,050 (Rs22.4 lakh) a week. The money earned by a Diamond Star in QNet is almost the same that Mukesh Ambani of Reliance Industries (RIL), India's richest man as per the Forbes list, earns every week as salary (Mukesh Ambani forgoes Rs23.82 crore from his pay package ). We all have heard about Mr Ambani and his wealth. However, nobody knows how many Diamond or Platinum Stars are there in QNet's MLM network. If you know, then please share it.


In India, QNet’s MLM operations were controlled by QuestNet Enterprises (India) Pvt Ltd, a company registered at Chennai till 13 April 2012. From next day, it shifted all its registered agents, database and business to Vihaan Direct Selling Pvt Ltd, company registered in Bengaluru. Here are the details mentioned in the frequently asked question (FAQ) section on QNet’s site…


Image source-QNet FAQs for India


QuestNet Enterprises was operating QNEI eStore, a platform from where IRs, which is how the investor-dealers of QNet are described, could place orders or buy products and also enrol new recruits. After launching Vihaan, the company asked all its old IRs to mandatorily register under the new business name in order to receive their commissions. It is pertinent to mention that the big crackdown on its operations also occurred in Chennai when QNet operated under the name GoldQuest and sold numismatic coins.


You may also be interested in reading about the many other MLM schemes that Moneylife covers. Click here to read about them.




1 month ago


Ever since you lost your hard earned money in QNET SCAM, you all have multiple questions and facing multiple issues like :

1. Where and whom to approach for recovering your hard earned money?

2. How to help fight and stop this QNET SCAM?

3. How to teach your CHEATER UPLINES a lesson?

4. Issues regarding the “so called” “REFUND POLICY”.

5. Are you eligible for “Compensations”?

6. Issues regarding action buy police authorities.

7. What is the status of the court cases etc.

These are an example of just a few issues and concerns you are facing, but there is GOOD NEWS for you all. We have been working overtime to try and bring an end to these woes and issues faced by Victims of Financial Frauds like this QNETSCAM.

So guys and girls tomorrow is the BIG DAY finally , Please do join us tomorrow (Sunday) afternoon at 1.30 PM sharp at Andheri east, outside Sarangi Restaurant (Just 1 minute from the Andheri station on the east side).

Please do come and also inform other victims of the QNETSCAM.
Tomorrow (Sunday) afternoon sharp 1.30 PM, outside Sarangi Restaurant , Andheri-east, Mumbai.

Please note we have limited seats, first come first served basis make sure to reach in time __/\__ . You can contact on 7498063701 in case of difficulty in locating us :)

Jai Hind.

jitu moni

1 month ago
Four persons, who were associated with Hong Kong-based QNET, a multi-level marketing (MLM) company, and duped 200 persons by promising them jobs, were arrested by Central Crime Station (CCS) officials on Thursday. However, the MD and directors of QNET and its sister company Vihaan Direct Selling are still at large.

Deputy commissioner of police (CCS) Avinash Mohanty said Sreenath Konda, Prasanna Kumar Reddy, V Kanchana, B Dhan Raj were arrested from different locations in the city for cheating people.

Police said the accused had been enrolling gullible people as agents by collecting Rs 10 lakh from a group of 10 persons.

Each person would be given status of promoter, direct them to attract a group (i.e., 10 persons) and make them join QNET by paying Rs 10 lakh, for which the promoter would be assured commission.

jitu moni

3 months ago
NewsAmbit, New Delhi
Delhi Police Economic Offence Wing(EOW) has registered an FIR against QNET India/Vihaan Direct selling India Private Limited and its three independent representatives on the allegations of cheating and fraudulently operating the multi level marketing, which is illegal in India. Police have initiated the investigation and suspecting huge scam, which is estimated in crores.
A senior Police officer of EOW said that we received a combined complaint against QNET India and its three independent representatives from more than dozen of people in the month of March this year. As per the allegations of main complainant Anuj Jain alleged that his friend Himashu Aggarwal approached him for an business opportunity. He said that he is an independent representative(IR) of an e-commerce based company. He said that he can arrange an meeting with the other IR’s who will tell you about the business and if they find you suitable you will get chance to be a part of the company. After few days Himanshu called Anuj Jain to come with a CV at a café situated in Nehru Place area on 29 November 2015. Anuj reached there, where he met with Himanshu and his to associates Anita Jaggi and Kanika. Trio told him about the business profile and also assured that this is not a networking marketing company. They demanded Rs 6.5 lakh to be a member of the company. They also said that company has millions of customers. IR of the company is treated as a partner and also got the profit share for each sale. After three four days Anuj gave them 6.5 lakh rupees but after some time he got to know that this is a multi level marketing company and fraudulently cheating innocent persons by roping them in it’s banned business with the help of IRs.
Police said that Anuj is not the only complainant so many more complainants also approached to EOW. After which a preliminary enquiry had conducted. It was found that some persons who are termed as IR contact their friends and close persons to join a new e-commerce business. They don’t tell the name of the company or complete business module at the beginning. After alluring them they set various amounts from the victim. Independent Representatives(IR) get training during the joining and talk to make further members. These kinds of IRs of the company are operated from different cafes and food courts situated in Delhi and NCR.
Those who join the company get user id etc and products like ravel packages, some other items etc are shown purchase from their money. The delivery address given in the portal is also found of overseas area most of the time and mostly that address is too fake type location only which shows that no products are being sold and it is a completely a money circulation scheme. Two websites were found involved in the namely and were found mated to Vihaan Direct selling (India) Pvt ltd which is stated Indian Franchisee of Hong Kong based net company. Investigations are on. Police are trying to unearth the whole network of the IRs on which this company is running its business unlawfully in Delhi. A case has been registered u/s 420/120B/34 IPC and 4/5/6 of Prize Chits and money circulation Schemes(Banning) Act,1978 .

Profiles of IRs
Himashu works with Samsung
Anita Jaggi works with RBS

jitu moni

6 months ago

Hello Everyone

The company Qnet is celebrating VCon from 3-7 May. As a present,yesterday late night, I posted lot of comments on numerous pics uploaded on Instagram. I also posted on VChief Pathmans account. Unfortunately, they kept deleting my posts and had to ultimately block me. If each one of us, Indians, takes to instagram and starts posting messages like me, then they would have to either block us or abandon their account, which is their money making tool. You can start with Qnetofficial,TheV, Pathmans account, etc with phrases like Pyramid Scheme, Qnetscam, Franchise Fraud, Police arrests, court cases,Cheating, etc. They cannot stop us if we all work as one unit.

Hope we all teach them a lesson and save other fellow Indians.

Jai Hind

jitu moni

6 months ago
CM Devendra Fadnavis has assured detailed inquiry into QNet: BJP
Chief minister Devendra Fadnavis has promised to make a detailed inquiry of the alleged irregularities by the QNet multilevel marketing company and take action against the offenders, said BJP spokesperson Madhav Bhandari on Saturday. Former union minister P. Chidambaram’s wife was a legal counsellor with the company.

The QNet company, which was earlier known as Goldquest, has cheated 12 lakh people to the tune of thousands of crores of rupees. The court has rejected anticipatory bail to the accused in this case. When the CM was contacted about this, he promised to make a detailed inquiry and take action. If necessary, he said that the CBI’s help would also be taken, said Mr Bhandari.

The party spokesperson demanded that the role of former Union minister P. Chidambaram and his wife needs to be probed in this case. “Mr Chidambaram’s wife was a legal counsellor of the concerned company. Taking note of complaint registered by a lawyer from Chennai, the Central Vigilance Department handed over the case to the CBI. The complaint also has a mention of former Union minister Shashi Tharoor. However, the CBI did not investigate the matter during the tenure of Congress government at the Centre,” he alleged.

In Maharashtra, the wife of Gurpreet Singh Anand had in 2013 filed a complaint of fraud against the company. However, there was not much inquiry during the Congress-NCP regime. But since the court has denied anticipatory bail to other accused, including sportsman Michael Ferreira, the investigation can be expedited. Many sensational things are expected to come out in the investigation as the CM has promised to carry out a detailed probe in the case, said Mr Bhandari.

jitu moni

6 months ago

Mumbai police seeks Zee business help in probe of QNet

jitu moni

6 months ago
A group of investors in the QNet multi-level market case on Sunday gathered near Holy Family Church and marched as a protest and public awarness against ponzi schemes. The protesetors reached at the house of accused Padma Bhushan Michael feriera in the QNet cheating case. The protesters were holding placards that read, Michel Ferriera Shame Shame! and Ban QNet".

"We chose Bandra for protest since most of the accused in this scam reside here. We had informed the police in advance and stated that the peaceful march will be for awareness about such fraud schemes and protest against such ponzi schemes," said Gurpreet Singh Anand, the first complainant in the QNet cheating case. He added that thgough it was his birthday but he did not spend time at home and was busy in the awareness drive.
Similar protests were held in New Delhi, Bangalore and Hyderabad on Sunday. Last month a special MPIDA court rejected the anticipatory bail plea of Michael Ferreira, winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, and four others in the QNet case. They have approached the Bombay High Court for anticipatory bail. Ferreira, 77, and others had applied for anticipatory bail in 2014.

jitu moni

6 months ago
The economic offences wing of Mumbai police, probing the multicrore Qnet scam, has issued notices to Indian Super League (ISL) officials to gather details about taking sponsorship from the tainted company.
Qnet had made celebratory association as the official direct selling partner of Goa Football Club (FC Goa) throughout the Indian Super League 2015 season, from October to December. FC Goa is a part of the ISL football league tournament. Sources said the police are trying to find out the how the proceeds of crime of a company under serious investigation, have been used to sponsor the team. Police are also baffled as how the Qnet managed to generate money when its accounts have been seized. "We have sum moned ISL officials to understand the amount and flow of money in their sponsorship from the Qnet company which had defrauded several investors," said an official.

jitu moni

6 months ago

The fight against the Qnet scam wheré more than 7000 crores of rupees has been laundered out to foreign shores from India has just got bigger.

The Saradha Scam which started mainly in Bengal looks relatively smaller compared to the Qnet scam which had defrauded people across various cities like Mumbai,Delhi,Bangalore,Hyderabad etc for over a period of 10 years.

To unite and protest against this MLM scam plaguing India, all victims,activists, are requested that they gather outside Holy Family church,Hill Road,Bandra West at 10.30 A.M. tomorrow 24th April,2016.

Various press and media agencies will be present to cover the event meet and address grievances to authorities.

The current government has taken note of the Qnet scam and matter will be taken up at upcoming Parliament session.

All Indians are cordially invited to support the cause and join in the protest. We need to end the scam by spreading awareness and recover the money taken away by the scamsters.

A request to all to please forward this message on Facebook, twitter and WhatsApp groups... Jai Hind

Agyat Vyakti

8 months ago

Off the topic. This is just for awareness.. Qnet and MLM are using friends and relatives to dupe you... You may like to read Qnet modus operandi with screen shots and facts and how to avoid them here ... Please share for public interest.. Qnet Scam in India

jitu moni

9 months ago
The special court has rejected anticipatory bail applications of two directors of Vihaan, Suresh Thimiri of Transview as well as Malcolm Desai and Michael Ferreira, the stakeholders of Vihaan that handles QNet's MLM operations in India

The special Maharashtra Protection of Interest of Depositors (MPID) Court on Tuesday rejected anticipatory bail applications of five accused in the multi-crore QNet scam. This includes, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is 20% stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and 80% stakeholder in Vihaan.
The Economic Offences Wing (EOW) of Mumbai Police, which is probing the case, had invoked the stringent MPID Act against controversial multi-level marketing (MLM) company QNet, which has denied any wrongdoing on its part.

Transview Enterprises is an associate company of Vihaan Direct Selling Pvt Ltd that handles QNet's multi-level marketing (MLM) operations in India since 14 April 2012. Vihaan Direct Selling, in which Michael Ferreira, the former world billiards champion, owns 80% stake, is a direct selling agent of QNet and had done large financial transactions with Thimiri's company Transview.

The EOW had booked several accused including the former world champion of billiards and five companies related with QNet, under the MPID Act. This means all the cases against QNet, Vihaan and all those involved in the MLM scam would be heard before the special MPID Court. Until now, the accused were being investigated for cheating and forgery under the Prize, Chits and Money Circulation Schemes (Banning) Act 1978, and for money laundering by the Enforcement Directorate (ED).

In February 2014, the ED registered a case under the prevention of money laundering act (PMLA) against QNet, Vihaan Direct Selling, Ferreira and QNet founder Vijay Eswaran and three other independent representatives (IRs) of the MLM operator.
Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri in his first information report (FIR) stated that his wife was duped for Rs30,000 by some people who had introduced themselves as the independent representatives (IRs) of QNet. Anand told the police, “They (IRs) had said that one of the bio-products my wife bought could be used to treat my 12-year-old son's brain-related diseases.”

jitu moni

11 months ago
MUMBAI: Investors who lost their money in major scams and multi-level marketing's cheating cases can heave a sigh of relief now. The state government has appointed 49 new competent authorities (CAs) to take decision in as many as 101 cases regisered under the strinent law, The Maharashtra Protection of Interest of Depositors (MPID) Act. This will help to dispose of as much as Rs 10,000 crore of investors that is stuck in over a hundred cheating cases' legal battle.

Earlier, the city economic offences wing (EOW) had only two competent authorities. "CAs will proceed with the procedure of disposal of properties and realisation of money for repayment to the investors. It will expedite the process of recovery and will help the victims who have been cheated to get their money back," said Dhananajay Kamalamakr, joint commissioner of police and EOW chief.

The big cases where these CAs will focus first include the cheating cases incluidng National Spot Exchange Limited (NSEL), QNet, SpeakAsia, fixed deposit scam led by Sheesha lounge owner Mohammed Fasih and the Mumbai District Cooperative Bank. SpeakAsia alone has over 24 lakh investors. The money lost in this case is over Rs 2,276 crore while investors' over Rs 6,000 crore is stuck in the NSEL case.
TOI had on October 11, 2015 reported about that as many as 62 cases under the MPID act were pending in a city court due to non-appointment of a competent authority. While seized properties of the accused in all the above cases await disbursement among the victims, the city police has sent a proposal to the state for several amendments including the appointment of CA for a speedy return of public money, said police sources. More than Rs 10,000 crore public money is stuck in MPID cases in the city alone, they said.

"Earlier, non-appointment of competent authority defeated the objective of the enactment of the MPID Act," said an EOW officer. While an investigating officer probes the criminal part of a case, the civil aspects such as the attachment of properties, sale-realization of properties, and disbursement of sale proceeds to the victims are exclusively in the domain of the competent authority who is a revenue officer of deputy collector rank.

"It is observed that competent authority has been appointed in 23 cases in the city MPID cases earlier, notification of the properties in the official gazette is yet to be published. Hence, it would be better to have CAs with independent portfolio for MPID cases," said a senior IPS officer.

Major cases where the appointment of competent authority will give relief to investors:

· NSEL Rs 6,000 crore
· SpeakAsia Rs 2,276 crore
· QNet Rs 425 crore
· FD scam Rs 325 crore
· Mumbai District Cooperative Bank Rs 119 crore

jitu moni

1 year ago

VIJAYAWADA: Yet another multi-level marketing (MLM) company Vihaan Direct Selling Ltd was sealed by police and its representatives were paraded before mediapersons here on Tuesday. Police will soon serve a notice on its promoters -- Vasudeva Reddy and Ch Gangadhar - who are currently in Dubai and alert the Interpol to help nab the duo.

Addressing a press conference here on Tuesday, commissioner of police A B Venkateswara Rao said that 134 people in the city have fallen prey to the company. "Vihaan Direct collected Rs 1.16 crore and deposited Rs 65 lakh in the account of Vihaan Direct Selling Ltd, which is based in Mumbai. Another Rs 10 lakh was deposited in the account of VR 1 Training Centre, which is based in Bangalore. Rest of the funds have been misappropriated," he said.

Acting on a complaint from a depositor Prathipathi Lakshmi Ganesh, Krishna Lanka police led by circle inspector S V V S Murthy arrested four representatives of the firm- Gourang Desai, Y Babul Reddy, D Nagaraju and Ch Manikanta -- on June 22 and recovered Rs 15 lakh in cash and four mobile phones.

It was on January 5 this year Mumbai-based Vasudeva Reddy, a notorious MLM agent, opened Vihaan Direct as a franchise of Hong Kong-based Q-Net near Prasanthi Hospital in Labbipet. He also ran a training centre called VR 1. City-lad Desai, who met Vasudeva in Mumbai, was nominated as in-charge of the training centre. Gangadhar, a close aide of Vasudava, was nominated to run the direct selling firm.

Gangadhar recruited Babul, Nagaraju and Manikanta as independent representatives (IRs) to carry out the fraudulent MLM operations. Their modus operandi was typical of a binary tree structure- each IR has to recruit more members. IRs will receive commission based on the number of referrals and sales volume of other IRs in their team.

The police commissioner said that Vijay Eswaran, who runs Q-Net, is the brain behind the MLM firms. "From 2002-08, he ran a firm in Chennai that swindled Rs 1,100 crore. Between 2010-14, he ran another MLM firm with Vasudeva Reddy, which swindled Rs 425 crore from depositors," he added.

jitu moni

1 year ago

QNET multi-level marketing scam busted in Vijayawada - Tv9


jitu moni

1 year ago
Four persons have been held today for their alleged involvement in the multi-level marketing 'Qnet' case, police said.

The four persons, identified as V Bal Reddy, Gautam Desai, Dasari Nagaraju and Cheemakurti Manikanta, were arrested today and Rs 15 lakh, deposited in different bank accounts, were seized from them, district Police Commissioner A

B Venkateswara Rao said.

The accused were nabbed by Economic Offences wing of the Commissionarate and the key person involved in the alleged fraud, Gangadhar from Vijayawada, is absconding and is currently said to be in Dubai, the senior officer said.

The five persons were associated with multi-level international marketing firm Qnet, a company founded by one Vijay Eswaran, a Malaysian citizen based in Hong Kong, in 1998, where the company agents extracted huge money from people by offering them lucrative incentives, he said.

The company also operated in India with other names like 'Qen' and 'Quest, police said.

Eswaran had appointed one Vihan Direct Selling, owned by Gangadhar, as the sole selling company in India, where the firm had assigned some agents to recruit salesmen under the direct selling system.

According to police, the agents had appointed 134 first level salesmen by collecting Rs 1,16,55,000 and another 13,400 second level salesmen were joined by the 134 sales persons.

In the meantime, one of the salesmen suspected company's activities and lodged a complaint with the police and the four accused were arrested after investigations.

Rao said if necessary, a red corner notice will be issued against Gangadhar.

He said Qnet is facing many charges in the country and some of the cases against the company are pending in courts.

A decade back, the company was involved in a Rs 11 crore case of alleged fraud in Chennai. It has also been facing some cases in Mumbai, the officer said.

Over 10,000 people signed on a petition asking “Bharat Ratna” for Dr V Kurien. What next?

Over 10,180 people across India and abroad have signed a petition seeking a Bharat Ratna for Dr V Kurien, better known as India’s milkman. The campaign now seeks public support for the next phase, which is to bring it to the attention of decision makers. There is also a suggestion to recognise 26th November, Dr Kurien’s birthday as ‘Sahkarya Kranti Diwas’ to start a movement for positive change and inclusive growth. A 1988 convocation address at IIM-Ahmedabad show how relevant this is even today.


The online petition for a Bharat Ratna for one of India’s most deserving sons—Dr Verghese Kurien—has so far received 10,180  signatures and the number is still growing.

Support for the petition has come from all over India and from abroad too—it cuts across all geographical, religious and ethnic boundaries.

As @ManyuShakti put it on twitter: Happy to hear that finally 10,000 squirrels built a bridge to reach Rashtrapathi Bhavan to submit Bharat Ratna petition :-)

The question is, What Next?  According to Sucheta Dalal, managing editor of Moneylife, who started the petition, the signatures are only the beginning, the hard work begins now! “The idea is to reach out to the President of India. Our petition, once closed, will be emailed to the Rashtrapati and the Padma Award Committee members,” she says. If you want to sign even now, please click the link above.

Anand Halve, author and co-founder of chlorophyll has a unique suggestion. He says, “We will push hard for the Bharat Ratna for Dr Kurien, but why wait for the government to do something.  The petition got people to think about Dr Kurien’s towering contribution to  empowering the poorest people—especially farmers. Why not to build on that for positive change?”

Mr Halve suggests we should remember Dr Kurien’s contribution on his birth anniversary, 26th November and celebrate this day as “Sahkarya Kranti Diwas”, and re-dedicate ourselves to give something back to the society.

Creating positive change: Remembering Dr V Kurien,

Architect of India's white revolution


 Sahakarya Kranti Diwas: 26 November 2012

* We invite you to send us ideas and suggestions on how to initiate positive change.

* We urge you to think up ways to mark this day in every town and village of India.

* Those of you who know any of the Padma committee members may like to write to them to push for this most deserved recognition to the architect of the White Revolution! Here are names and email IDs.

* This is purely a public effort with absolutely no corporate support or involvement


The petition will be delivered to:

Pranab Mukherjee, President of India:
[email protected]


Padma Committee Members:

1. Mr Jamshyd N Godrej - [email protected]

2. Mrs Amal Allana - Chairperson, National School of Drama - [email protected][email protected],

3. Ms Leela Samson - Chairperson, Sangeet Natak Adademy - [email protected]

4. Dr R Chidambaram - Principal Scientific Advisor to Govt of India - [email protected]

5. Mr Girish Karnad – email ID not available (Letter sent by speed post)

6. Mr Pulok Chatterjee, Principal Secretary to PM - [email protected]

7. Mrs Omita Paul, Secretary to the President - [email protected][email protected]

8. Mr Ajit Kumar Seth, Cabinet Secretary - [email protected]

9. Mr RK Singh, Home Secretary - [email protected]

Meanwhile, you may want to read a speech delivered by Dr Kurien in 1998 at IIM Ahmedabad, which is relevant even today…



Nifty, Sensex in a downtrend: Weekly Market Report

Reversal would be seen only if the Nifty closes above any previous day’s high

The Indian market closed the holiday-shortened week with a loss of 2%, mainly on global growth concerns, and the absence of positive triggers from the domestic arena. A decline in industrial output for September and lower exports in October also weighed on the market. The focus now shifts to the Winter Session of Parliament, beginning on 21st November, which will see another stormy session with opposition to the key reforms that were initiated by the UPA government recently.
The BSE Sensex tumbled 374 points (2%) to settle at 18,309 and the Nifty closed the week at 5,574, down 112 points (1.97%). The decline indicates that the downtrend is continuing. However, a reversal would be seen only if the Nifty closes above any previous day’s high.
The market ended on a flat note on Monday on the decline in industrial production numbers for September and weak global cues. The short trading session on Tuesday to herald the Samvat Year 2069 saw the benchmarks remaining subdued on global concerns. Selling pressure in IT, metal, fast moving consumer goods and auto stocks pushed the indices lower on Thursday. On Friday, the market erased all its gains in late trade and settled around 1% down.
In the sectoral space, BSE Consumer Durables (up 1%) was the lone gainer. The top losers were BSE Auto and BSE Metal (down 3% each).
The Sensex gainers in the week were Bharti Airtel (up 9%) and Coal India (up 1%). The main losers on the index were Tata Motors (down 6%); Tata Steel, ITC, Hero MotoCorp (down 5% each) and Hindalco Industries (down 4%).
The top Nifty performers were Bharti Airtel (up 9%), Coal India and Axis Bank (up 1% each). Tata Motors (down 6%), Grasim Industries, UltraTech Cement, Tata Steel and Ambuja Cements (down 5% each) were the key losers.
India’s industrial production, as measured by the Index of Industrial Production (IIP),  contracted by 0.4% in September due dismal show by the manufacturing sector and a decline in consumer as well as capital goods output. Meanwhile, the IIP for August this year was revised downward to 2.3% from earlier provisional estimates of 2.7% released last month.
Headline inflation declined marginally to 7.45% in October from 7.81% in the previous month, even though prices of food items like rice, wheat pulses and potato showed a rise giving virtually no respite to the common man battling price rise. India Inc is of the view that the decline in the rate of price rise should encourage the Reserve Bank of India to cut interest rate that will lead to uptick in industrial activity.
On the international front, initial jobless claims in the US rose to their highest in more than a year, as a handful of companies announced mass layoffs—a sign of tardy economic growth. Meanwhile, anti-austerity protests and a deepening recession continue to impact the 17-nation Eurozone.


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