Stocks
Share prices may slide further: Thursday Closing Report

If today’s low breaks, Nifty likely to fall to 4750

After volatile movement for some days now, the Nifty today ended at its lowest level on its current decline. If the Nifty does not close above 5,000 in the next few days, we may see a fall to the 4,750 level in the next few days.

Taking a cue from global markets, the domestic market opened higher with the Nifty rising resuming trade at 4,915, up 25 points from its previous close, while the Sensex was higher by 53 points at 16,338. The opening level was the highest for the day for the Nifty. Healthcare stocks were sought after in the initial session.

Sharp volatility saw the indices move in and out of the red in the first hour itself. Profit booking in select sectors resulted in the indices drifting southwards. The market made a half-hearted attempt to emerge into the positive in noon trade, but the sellers pulled it lower in no time. The market moved sideways in subsequent trade.

Late in the day, a sharp sell-off by institutional investors dragged the indices to their intra-day lows, the Nifty fell to 4,825 and the Sensex slipped back to 16,104. But the market managed to pull itself together and close off the day's lows. The Nifty ended the day at 4,840, down 49 points, and the Sensex finished 139 points lower at 16,146.

The advance-decline ratio on the National Stock Exchange (NSE) was a negative 576:1122.

Among the broader indices, the BSE Mid-cap index declined by 0.88% and the BSE Small-cap index fell by 0.82%.

The sectoral gainers were BSE Realty (up 0.44%), BSE Healthcare (up 0.3%) and BSE Fast Moving Consumer Goods (up 0.18%). The laggards were led by BSE IT (down 2.07%), BSE Metal (down 1.86%), BSE Bankex (down 1.40%), BSE Consumer Durables (1.27%) and BSE TECk (down 1.20%).

The top performers on the Sensex were DLF (up 2.67%), Tata Motors (up 1.91%), Sun Pharma (up 1.27%), Bharti Airtel (up 1.18%) and ONGC (up 1.11%). The major losers were Jindal Steel (down 4.52%), Jaiprakash Associates (down 4.50%), Hero MotoCorp (down 3.10%), Infosys (down 2.68%) and HDFC (down 2.65%).

The leaders on the Nifty were DLF (up 2.80%), PNB (up 2.60%), Ambuja Cements (up 2.45%), Reliance Communications (up 2.26%) and Tata Motors (2.18%). JP Associates (down 5.22%), SAIL (down 3.92%), HCL Technologies (down 3.87%), Jindal Steel (down 3.82%) and Infosys (down 2.91%) were the top losers on the index.

Markets in Asia, which opened higher on support from overnight gains on Wall Street, settled mostly in the green as investors await the outcome of the Federal Reserve meeting on Friday. Fed chief Ben Bernanke last year used the Jackson Hole speech to unveil the quantitative easing bond-buying programme. However, analysts do not expect any similar moves this time.

The Shanghai Composite jumped 2.92%, the Hang Seng climbed 1.47%, the Nikkei 225 advanced by 1.54%, the Straits Times gained 1.69% and the Seoul Composite rose by 0.56%. On the other hand, the Jakarta Composite shed 0.07%, the KLSE Composite lost 0.30% and the Taiwan Weighted declined by 1.23%.

Back home, continuing their sell-off foreign institutional investors were net sellers of stocks worth Rs883.48 crore on Wednesday. On the other hand, domestic institutional investors were net buyers of equities worth Rs561.10 crore.

State-owned Oil and Natural Gas Corporation (ONGC) has drawn up plans to drill eight wells in its gas discovery block in the prolific Krishna-Godavari basin, off the Andhra coast, to appraise finds it has made in the area. The company estimates that the block holds an in-place volume of 25.61 million tonnes of oil and 197 billion cubic metres of natural gas. It is proposing an investment over $7.7 billion to produce up to 30 million standard cubic metres per day of gas from the block. The stock gained 2.01% to close at Rs284.50 on the NSE.

The country's largest private power generation company Tata Power plans to invest around Rs1,000 crore over the next three years to lay its own cable network in Mumbai for power distribution, a senior company official said. The company serves eight lakh customers using the wire networks of the BEST and Reliance Infrastructure to distribute electricity in the city and the suburbs, respectively. Tata Power also has its own network in certain parts of the metropolis. The stock settled 0.65% higher at Rs1,045 on the NSE.

L&T Construction today said it has secured an order worth Rs797 crore in the building and factories segment. The order has been secured from a leading developer for mixed use construction, comprising pre-dominantly residential, including retail and commercial developments, at Mumbai, the company said. The L&T stock lost 0.44% to end at Rs1,551.20 on the NSE.

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Speak Asia COO fears re-arrest by police from other states, may petition SC

Speak Asia COO Tarak Bajpai has been granted bail, but he is afraid that police from other places may arrest him. According to sources, the company may approach the Supreme Court to seek anticipatory bail

Speak Asia, the troubled multi-level marketing (MLM) company, could remain in the water for many more days, if not some months or years. The company's chief operating officer (COO) Tarak Bajpai, who is in custody, is apparently not willing to come out of jail fearing that police from other states may be looking to arrest him.

According to information posted on the Internet by some agents of Speak Asia, Mr Bajpai was granted bail by the Thane District Court. However, police from Madhya Pradesh, Rajasthan, Goa and Pune were said to be waiting outside the court to arrest Mr Bajpai. So, in order to avoid being arrested all over again, the company's counsel advised that Mr Bajpai petition the Supreme Court for anticipatory bail.

One such post reads: "Court ne bail manjoor kar li, lekin layer (lawyer) ne mana kar diya kyoki aur jagah se complain bhi hua hai. Agar Tarak sir baahar aate toh fir se giraftar ho jate. Is isthiti (is paristhithi) mein layer (lawyer) ne nirnay liya ki ab Supprim Court se Agrim jamant lenge. Jis se ki jo aur jagah company ke khilaf FIR hua hai, koi pooch tach ke liye inko giraftar na kare. MONDAY ko SC se bail mil jayega, tab Tarak sir bahar aa jayenge, fir SOAL ka painding work shuru ho jayega." However, this information could not be confirmed from the company's legal team.

In the meanwhile, according to some panellists, the company has also requested the Reserve Bank of India (RBI), to postpone its meeting, citing non-availability of its officials. Speak Asia had asked for an appointment with the RBI and accordingly the central bank had fixed a meeting for 24th August, in the second half of the day. However, on the morning of 24th August, Speak Asia sent an email to the RBI saying that since its officials were in jail, the meeting be postponed to another date. Speak Asia had to get an order from the Bombay High Court to fix an appointment with the RBI.

This statement from Speak Asia is yet another example of the lies the company has been spreading. Harendar Kaur, chairperson and chief executive officer (CEO) of Speak Asia (see the image below), had sent a letter seeking an appointment to the RBI. Manoj Kumar, the company's CEO for India, is alleged to be in hiding in Dubai, while there is no information about other officials, like Narayanan Rajagopalan, president for emerging markets, and Vivek Gautam, chief marketing officer (who was reported to have been sacked for making big claims about big clients).

Some other officials of the company were also present at the press conference called by Speak Asia on 16th May in Mumbai, but there is little information about their whereabouts. Till date, the Mumbai police and the Economic Offences Wing (EOW) have arrested only one official, that is Tarak Bajpai. The question is why is Speak Asia making it out to be as if many of its officials are in jail?



Only yesterday, during the hearing on two public interest litigations that highlighted the two scams involving Speak Asia and Symbiosis Investment, a division bench of Justice Ranjana Desai and Justice Rajesh Ketkar remarked that such offences should be investigated expeditiously to provide quick relief to victims.

You may also want to read… 

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COMMENTS

Kishore N

6 years ago

MLM FRAUD

NANO EXCEL FRAUD

ACTION COUNCIL WEBSITE

http://www.nanoexcelactioncouncil.net/

Sudhakar

6 years ago


The American bosses of 'Amway' have committed wire fraud in India

http://corporatefraudswatch.blogspot.com...

Kishore N

6 years ago

MLM Fraud ---- DXN & NANO EXCEL

MADHYAMAM NEWS PAPER EXPOSES DXN - MADDINENI NEXUS and

MALAYSIAN MUSHROOM (Ganoderma lucidum) Fraud

Maddineni knew that Malayalees would easily fall prey to cheats. That is why he introduced his Nano Excel Fraud to Kerala. Some years ago he defrauded Malayalees in the name of "Malaysian Mushroom". These mushrooms are available in Kerala itself especially in Wayanad district. He marketed products based on this mushroom as “magic medicine” in Kerala some years ago. This Mushroom is known as "marakkoon" (Ganoderma lucidum) in Kerala.

Maddineni WAS ONCE THE REGIONAL MANAGER OF DXN.
All DXN offices (http://www.dxn-india.com/) in Kerala are now closed by the Police.

Read more:
http://www.madhyamam.com/news/116036/110...

zess

6 years ago

dear desperate soul(Saol),
better you file a fir against SAOL,this may help you more than ur hatred comments against moneylife and other media house.At least u may have a chances to get half of ur investment money if u do this.

kris

6 years ago

Vanished !!

Where are our "superior" "smart" Money chain agents?

Sofi

6 years ago



Where is our money? How long do we need to wait for? When will be the court battles over? Why don't SAOL give us written assurances?

REPLY

Kris

In Reply to Sofi 6 years ago


How can a defunct company pay up the dues? You need to approach a court of law for redressal of your grievance.

Asif

In Reply to Kris 6 years ago

No doubt it is a defunct company. it is still unclear What legal doucments they had to carry their business?

kris

6 years ago


When confronted with uncomfortable questions like his knowledge about a red listed company in Singapore and the details of whereabouts of top brass of the company "Himanshu" and "Suresh" Vanished into thin air. Now comes "Sayad Ahmed". ha ha ha ha

REPLY

M Suresh

In Reply to kris 6 years ago

What you confronted me with uncomfortable questions?
Who vanished into the air?
So you want comfortable answers which satisfies you like "moneylife is great, long live moneylife, speakasia is bad, down down speakasia.." Each & every time in your writing you mention "ha ha ha ha.." What does it mean? What you are coming to say..? you are saying that you are laughing... how long you will laugh man.. be careful time has come for you to cry.. start crying, keep crying forever, don't ask stupid questions like this, do some other work or else go for fishing, if you don't know i'll teach you how to fish.. I'm having so many work other than this.. Not like you sitting all the time in this & keep on writing against all speakasians or whoever ask money..? Let me focus on my other work.. U also do your work..

M Suresh

In Reply to kris 6 years ago

Who vanished through Thin Air..? Why are you creating stories Kris, the crazy mad dog...!

Kris

In Reply to M Suresh 6 years ago

Dear Suresh,

I haven't created any stories. In fact SAOL has created one or the greatest financial stories of India !!.

You are planting stories here. Whoever comments here are termed as paid agents. You are insulting honest individuals. You are also abusing journalists more particularly a woman journalist. You people are even making obscene comments against her.

I am not asking anything about your personal life. I am asking you about a controversial online survey company . Since you are admittedly have connection with them, could you please clarify on the following ?

Is Speak Asia a red listed company in Singapore?

Where are all the top brass of the company now?

Kindly reply

Himansu Agrawal

In Reply to Kris 6 years ago

Ohh!! great & stupid Question!
Answer of your no: 1 question is you are planning to marked red underline in Speak Asia named, so you are asking bullshit question?
Answer of your no:2 question is All top golden wings are busy in court lol.

Himansu Agrawal

In Reply to Kris 6 years ago

Comon Yaar, Don't behave like "crazy mad dog"! Don't ask silly question like Red, yellow,brown, black company. Do you have brain to burn your talent?

Asif

In Reply to Kris 6 years ago



No doubt it is a defunct company. it is still unclear what legal doucments they had to carry their business?

Ankay Bansal

6 years ago

Dear Suresh & Himansu!!, You know some Idiots (like kris, Sofi & lol) to make stupid comments like this so they can see how many people they can get to respond and upset….then they sit back and count the number of responses and laugh…so when you see ignorant comments like this one that upset you, don’t give them the pleasure of a reply, so they can brag, ” I got 65-100 comment-ha-ha” I’m Kool” Crap like that.. So Idiots like them sit around wasting the little brain they have left, looking to make baffling on SAOL issue, instead of helping to get back hard earn money by supporting innocent’s folks. I am not responding to them, my message is to everyone who did…don’t get caught up in the stupidity on the wall of hopeless foundation. If questions and comments don’t stimulate your brain with Educational and cheerful thoughts, after the first couple of words move on, don’t waste your time!!.

REPLY

Kris

In Reply to Ankay Bansal 6 years ago

Dear Ankay Bansal Moron,

hahahah. Are you sitting in front of a mirror and talking to your own self Suresh & Himanshu



Joji

6 years ago


Are there any "genuine" Money chain companies?

The Kerala government recently set up a high-level committee to examine the complaint that "genuine businesses" were being affected by the drive against money-chain companies. The committee's report is awaited.

Is it a ploy to save AMWAY?

Many people believe that it is only aimed at helping out AMWAY.


lol

6 years ago


Speak Asia wants to pay up its panelists. But the problem is how can dead company pay up?

Himansu Agrawal

6 years ago

There’s a saying that media is a mirror for the society but these days it seems it is totally misusing our fundamental right of “freedom of press”. There is always a limit to our freedom but the way media is manipulating its freedom is really disgusting. Media is giving cooked up stories for their fame in the interest of common people. I am not associated with Speak Asia but I’m keen to read the real stories of Speak Asia, Last few months back one of my friend enlightened me about Speak Asia’s happenings! During these four months whatever knowledge I have gained about this company I think Speak Asia is absolutely in the right path but some opponents are playing a leading role to stop this business in India. I am also very much interested to help those people who invest his time & effort with money to fight for his right.

With warm regards
Himansu Agrawal
Bangalore

REPLY

Kris

In Reply to Himansu Agrawal 6 years ago

Dear friend of Speak Asia,

Where are top brass of your "friend's" company now? Could you please contact the legal team and kindly collect the details of the whereabouts of them.

Kris

In Reply to Himansu Agrawal 6 years ago


When fraudsters violate "rule of law" it is the duty of the media to expose them. Fraudsters may not like it but ........... who cares?

Himansu Agrawal

In Reply to Kris 6 years ago


See another proof of our media: After showing total fake news, next day Star News makes Blunder again, tries to construct Verdict on Speak Asia above High Court, now says sorry!
http://www.youtube.com/watch?v=K-jnRA-xz...
Why our Indian Media is so cheap? Before demonstrating any news why they are not confirm from source? Because simple answer: It’s just to gain TRP!!! Am I right Mr. kris?

Himansu Agrawal

In Reply to Kris 6 years ago

Strange! What type of country you are living in? It’s also a duty to demonstrate fake news in mind blowing breaking headlines? Just watch video of day before yesterday: http://www.youtube.com/watch?v=XRCyi2UBU....
Later my friend ask to the Speak Asia’s legal team they have explained that the news is 100% fake news (paid news). It is just to gain TRP & media attentions!!

Kris

In Reply to Himansu Agrawal 6 years ago



A telephonic conversation:

" Hi lawyer, how are you?. Star news report is fake, am I right?". lawyer replied "Yes, you are right. it is 100% fake .. Himanshu... Oh... sorry... Himanshu's friend. ."Thank You".

lol

In Reply to Himansu Agrawal 6 years ago


Poor Himanshu Afarwal. He is not associated with speak asia but was keen to read the stories of Speak asia !!!!. However, he never reads the stories of frozen accounts of "red" companies in Singapore !!!

Himansu Agrawal

In Reply to lol 6 years ago

Please don’t confer supplementary humorous compliments to others lolz!

lol

In Reply to Himansu Agrawal 6 years ago


Do you have any idea about the "red" companies of Singapore, dear?

kris

6 years ago

NANO EXCEL FRAUD

The New Indian Express:-

Crime Branch suspects Mr. Harish Maddineni had global connections

KOCHI: The investigation team under the Crime Branch(Economic Offences Wing) suspect that Harish Maddineni who was arrested in the Nano Excel money chain fraud case had international connections, while he operated from Chennai in 2001. The accused formed companies in Chennai in 2001 and 2002, which had Malaysian connections.

Read full story:-

http://expressbuzz.com/cities/kochi/cb-s...










a

REPLY

kris

In Reply to kris 6 years ago

MLM MONEY CHAIN FRAUD

GREENCO SECURITIES

Policeman arrested

A SENIOR civil police officer Prabhasankar (45) has been arrested by Thrissur East Police. He was arrested in connection with Greenco money chain fraud. He allegedly amassed wealth by cheating innocent investors. He is one of the directors of GREENCO SECURITIES.

Sofi

6 years ago


WE the panelists of SPEAK ASIA must get back our money. But how? If the frozen accounts of SPEAK ASIA are released what guarantee we have that SAOL will give us our money back? I invite suggestions from the panelists of the dead SAOL.

REPLY

NK

In Reply to Sofi 6 years ago

Money life's employee needs written guarantee!! But we have faith on dead SAOL, they will come back after fighting with hungry vultures and 100% we are sure they will return back our hard earn money.
We are eagerly waiting!!

Kris

In Reply to NK 6 years ago


SPEAK ASIA bosses' slavish flunkies may have faith in the dead company but the panelists lost faith. They need to get back their hard earned money.

AnK

In Reply to Kris 6 years ago

Slavish flunkies are those who write monkey messages in dashboard of his motherboard. Loses faith of panellist will get instant relief after receiving money from SAOL, not appraise tedious annotations.

Naveen K

6 years ago

MUST READ: The 10 Big Lies of Multi-Level Marketing and How SAOL is not affected by any of these

This is a posting on the web where in Robert L. Fitzpatrick (Copyright 1997, Robert L. Fitzpatrick) has tried to explain why we should not fall in the trap of MLMs.
I am trying to compare business model of Speak Asia Online Limited (SAOL) against each of the arguments below. Hope the readers will appreciate and post their views on the same.

The multi-level marketing (MLM) field grows and its member companies multiply. Solicitations to join the movement seem to be everywhere. The impression accordingly grows that it is indeed the wave of the future, a business model that is gaining momentum, growing in acceptance and legitimacy and, as its promoters claim, will eventually replace most other forms of marketing and sales. Many are led to believe the assertions that success can be found by anyone who faithfully believes in the system and steadfastly adheres to its methods and that eventually all of us will become MLM distributors.


With fourteen years experience in corporate consulting in the distribution field and after more than six years of research and writing about the MLM model, I have gathered information, facts and insights that show the MLM business model to be essentially a free market hoax. It is analogous to calling the purchase of a lottery ticket a \'business venture\' and winning the lottery a \'viable income opportunity for everyone.\' MLM industry claims of distributor income potential, its glorified descriptions of the \'network\' business model and its prophecies of a reigning destiny in product distribution have as much validity in business as UFO sightings do in the realm of science.

The very legality of the MLM system rests tenuously upon a single 1979 court ruling on one company. The guidelines for legal operation set forth in that ruling are routinely ignored by the industry. Lack of governing legislation or oversight by any designated authority also enables the industry to endure despite occasional prosecutions by state Attorneys General or the FTC.


Lie #1: MLM is a business offering better opportunities for making large sums of money than all other conventional business and professional models.

Truth: For almost everyone who invests, MLM turns out to be a losing financial proposition. Less than one percent of all MLM distributors ever earn a profit and those earning a sustainable living at this business are a much smaller percentage still. Extraordinary sales and marketing obstacles account for much of this failure, but even if the business were more feasible, sheer mathematics would severely limit the opportunity. The MLM type of business structure can support only a small number of financial winners. If a 1,000-person downline is needed to earn a sustainable income. Those 1,000 will need one million more to duplicate the success. How many people can realistically be enrolled? Much of what appears as growth is in fact only the continuous churning of new enrollees. The money for the rare winners comes from the constant enrollment of armies of losers. With no limits on numbers of distributors in an area and no evaluation of market potential, the system is also inherently unstable.


SAOL – As per current business model of SAOL , there is no compulsion of referring any one and whatever you earn is as per your capacity and understanding of the model. If you want to stay indoors and not want extra extra income you need not refer any one. And as per SAOL Management , they are now a self sustained team of panelists and even if no new joinings happen now onwards they will be able to succeed in their business plans. As per SAOL Model, none of panelists will be in loss there is an option of fixed income which will be higher than amount paid for getting enrolled and this fixed income is not dependent on getting new distributors enrolled.


Lie #2: Network marketing is the most popular and effective new way to bring products to market. Consumers like to buy products on a one-to-one basis in the MLM model.

Truth: If you strip MLM of its hallmark activity of continuously reselling distributorships and examine its foundation, the one-to-one retailing of products to customers, you encounter an unproductive and impractical system of sales upon which the entire structure is supposed to rest. Personal retailing is a thing of the past, not the wave of the future. Retailing directly to friends on a one-to-one basis requires people to drastically change their buying habits. They must restrict their choices, often pay more for goods, buy inconveniently, and awkwardly engage in business transactions with close friends and relatives. The unfeasibility of door-to-door retailing is why MLM is, in reality, a business that just keeps reselling the opportunity to sign up more distributors.


SAOL – True The company will be using the existing panelists as distributors but it is building its own force of Sales Managers also which will be on the payrolls of the company and will work for recruiting the new panelists / book new orders for their products to be launched through their E-commerce site. Yes SAOL will also be launching new products and create its own brand YUG, but the company is arranging to sell the products of the existing brands also as per the current updates from management. Once the new website comes up, this will be more clear. As of now SAOL doesn’t fall into the definition of MLM because
a) The choice of products will not be restricted here.
b) Retailing of products is not compulsory



Lie #3: Eventually all products will be sold by MLM. Retail stores, shopping malls, catalogues and most forms of advertising will soon be rendered obsolete by MLM.

Truth: Less than 1% of all retail sales are made through MLM and much of this sales volume is accounted for by the purchases of hopeful new distributors who are actually paying the price of admission to a business they will soon abandon. MLM is not replacing existing forms of marketing. It does not legitimately compete with other marketing approaches at all. Rather, MLM represents a new investment scheme that uses the language of marketing and products. Its real products are distributorships which are sold with misrepresentation and exaggerated promises of income. People are buying products in order to secure positions on the sales pyramid. The possibility is always held out that you may become rich if not from your own efforts then from some unknown person who might join your \'downline,\' the \'big fish\' as they are called.

MLM\'s growth is a manifestation not of its value to the economy, customers or distributors but of the recently high levels of economic fear and insecurity and rising expectations of quick and easy wealth. It is growing in the same way legalized gambling and lotteries are.


SAOL: The company is not targeting to render the existing medium obsolete rather it is trying to empower the consumers by giving them the choice to participate in the various business activities like
1) Giving Opinions
2) Watching On Line Advertisements
3) Referring New Panelists
4) Buying the products online at a considerable discount from MRP
5) Recommending those products to the Non-Panelists
6) Narrow Casting – Booking Classifieds for the existing businesses available in the market place
7) Some more options will be added soon


Lie #4: MLM is a new way of life that offers happiness and fulfillment. It is a means to attain all the good things in life.

Truth: The most prominent motivating appeal of the MLM industry as shown in industry literature and presented at recruitment meetings is the cra****t form of materialism. Fortune 100 companies would blush as the excess of promises of wealth and luxury put forth by MLM solicitors. These promises are presented as the ticket to personal fulfillment. MLM\'s overreaching appeal to wealth and luxury conflicts with most people\'s true desire for meaningful and fulfilling work in something in which they have special talent or interest. In short, the culture of this business detours many people from their personal values and desires to express their unique talents and aspirations.


SAOL: There is a capping put by the company on the amount a panelist can earn in a day and there is no scope of unlimited income


Lie #5: MLM is a spiritual movement.

Truth: The use of spiritual concepts like prosperity consciousness and creative visualization to promote MLM enrollment, the use of words like \'communion\' to describe a sales organization, and claims that MLM is a fulfullment of Christian principles or Sciptural prophecies are great distortions of these spiritual practices. Those who focus their hopes and dreams upon wealth as the answer to their prayers lose sight of genuine spirituality as taught by all the great religions and faiths of humankind. The misuse of these spiritual principles should be a signal that the investment opportunity is deceptive. When a product is wrapped in the flag or in religion, buyer beware! The \'community\' and \'support\' offered by MLM organizations to new recruits is based entirely upon their purchases. If the purchases and enrollment decline, so does the \'communion.\'


SAOL: This is not at all applicable for Business of SAOL. This is a pure business model and is no way related to spirituality.


Lie #6: Success in MLM is easy. Friends and relatives are the natural prospects. Those who love and support you will become your life-time customers.

Truth: The commercialization of family and friendship relations or the use of \'warm leads\' which is required in the MLM marketing program is a destructive element in the community and very unhealthy for individuals involved. Capitalizing upon family ties and loyalties of friendships in order to build a business can destroy ones social foundation. It places stress on relationships which may never return to their original bases of love, loyalty and support. Beyond its destructive social aspects, experience shows that few people enjoy or appreciate being solicited by friends and relatives to buy products.


SAOL: The company’s business model is giving various options to the panelists to increase their sources of income but the source of income is no where dependent on the strength of downlines. Every panelist can participate in the business activities of the company for captive use also and need not depend on friends and relatives.


Lie #7: You can do MLM in your spare time. As a business, it offers the greatest flexibility and personal freedom of time. A few hours a week can earn a significant supplemental income and may grow to a very large income making other work unnecessary.

Truth: decades of experience involving millions of people have proven that making money in MLM requires extraordinary time commitment as well as considerable personal skill and persistence. Beyond the sheer hard work and talent required, the business model inherently consumes more areas of ones life and greater segments of time. In MLM, everyone is a prospect. Every waking moment is a potential time for marketing. There are no off-limit places, people or times for selling. Consequently, there is no free space or free time once a person enrolls in MLM system. Under the guise of creating money independently and in your free time, the system gains control and dominance over people\'s entire lives and requires rigid conformity to the program. This accounts for why so many people who become deeply involved end up needing and relying upon MLM desperately. They alienate or abandon other sustaining relationships.


SAOL: SAOL is a pure business activity and can be taken as a full time option from day one and need not be done only in spare time. If you have joined any MLM and SAOL in particular you have agreed to become a sales person only and every person who is in the sales and marketing field will always try to sell their products / services to the common public only. Suppose you are employed as Sales Manager for the sale of computers in a Big Company called apple/Microsoft won’t you ask your team of distributors and your down the line employees to find leads from their sources and general public. The same is the case for MLMs


Lie #8. MLM is a positive, supportive new business that affirms the human spirit and personal freedom.

Truth: MLM is largely fear-driven. Solicitations inevitably include dire predictions about the impending collapse of other forms of distribution, the disintegration or insensitivity of corporate America, and the lack of opportunity in other professions or services. Conventional professions, trades and business are routinely demeaned and ridiculed for not offering \'unlimited income.\' Employment is cast as enslavement for \'losers.\' MLM is presented as the last best hope for many people. This approach, in addition to being deceptive, frequently has a discouraging effect on people who otherwise would pursue their own unique visions of success and happiness. A sound business opportunity does not have to base its worth on negative predictions and warnings.


SAOL: The business is based on empowering consumers model and this model just tries to improve upon the existing distributorship channels and try to give middlemen commissions/incentives to the end consumer. Since SAOL is targeting sales of not only its own brand but also the brands available in the market , the ratio of success increase manifolds since the people need not build confidence of the prospect in the brand first and then achieving sales.


Lie #9. MLM is the best option for owning your own business and attaining real economic independence.

Truth: MLM is not true self-employment. \'Owning\' an MLM distributorship is an illusion. Some MLM companies forbid distributors from carrying additional lines. Most MLM contracts make termination of the distributorship easy and immediate for the company. Short of termination, downlines can be taken away with a variety of means. Participation requires rigid adherence to the \'duplication\' model, not independence and individuality. MLM distributors are not entrepreneurs but joiners in a complex hierarchical system over which they have little control.


SAOL: The company is not dependent on its own unique products but is a building a platform where in the like minded consumers are united and economies of scale are achieved and income is provided in the form of savings on purchase cost of daily to use products


Lie #10: MLM is not a pyramid scheme because products are sold.

Truth: The sale of products is in no way a protection from anti-pyramid scheme laws or unfair trade practices set forth in federal and state law. MLM is a legal form of business only under certain rigid conditions set forth by the FTC and state Attorneys General. Many MLMs are in gross violation of these guidelines and operate only because they have not been prosecuted. Recent court rulings are using a 70% rule to determine an MLM\'s legality. At least 70% of all goods sold by the MLM company must be purchased by non-distributors. This standard would place most MLM companies outside the law. The largest of all MLMs acknowledges that only 18% of its sales are made to non-distributors.


SAOL: Every business is a pyramid be it SAOL, MLM or any other traditional business. Every Corporate structure has lower number of persons at top and larger numbers in the lower scale. The labour building a bridge is in huge numbers and is lowly paid. If some of them understand how their seniors are working and are willing to be in their footprints they get promoted as supervisors and become highly paid than their fellow workers and keep on climbing the corporate ladder over a period of time. If this pyramid hierarchy is acceptable in traditional business then why such hype is created on SAOL type of businesses ? Infact SAOL and other businesses accumulate much bigger numbers at the lower levels as compared to the traditional businesses in very short span of time so this is highlighted.

REPLY

Kris

In Reply to Naveen K 6 years ago

One BIG TRUTH about SPEAK ASIA. IT IS DEAD

Kishore N

6 years ago

PRECISION MARKETING/ DIRECT SELLING/ DIRECT MARKETING /MLM/ MONEYCHAIN/MONEY CIRCULATION FRAUD

UNIPAY2U

ASIANET NEWS channel - Flash News

DIRECTOR OF unipay2u, Mr. Sathyan arrested from Thrissur, Kerala

Back to the future: How babus can nip scams by netas in the bud

It might be surprising to know what our babus can do to stop corruption. The second part of a three-part article highlights three instances of honesty and bravery of IAS officers 

"Corruption is not just about money. It is also about ethics in public life. Anything that violates it can trigger public anger."
—Venu Srinivasan, managing director, TVS Motors

Let me ask you a question. Which homogenous section of citizens in India can, and must be the first bulwark to hold off the tidal waves of corruption that have been sweeping our land for three decades and more?

Don't laugh. My answer is, the bureaucracy, particularly the Indian Administrative Service.

Do you know apart from the judgments of the Supreme Court which are the opinions that are most difficult to overturn? These are the jottings of senior bureaucrats (of the level of joint secretaries and above) in files dealing with matters involving large sums of money. I make this statement confidently after reporting on the affairs of government for four decades.

For example, a senior bureaucrat vets a file containing a proposal to buy equipment for a public sector company. The amount involved runs into a couple of hundred crores. The bureaucrat senses something fishy in the proposal; he feels that somebody, probably a minister, will get kickbacks. He notes his objection diplomatically: the amount is too high and the proposal can be passed if the cost is cut by, say, Rs50 crore. Any possibility of a kickback is thus thrown out of the window.

No minister, unless he or she is foolishly brave, or courageous as Sir Humphrey Appleby put it in "Yes, Minister", will risk overturning this opinion. The facts could come out any day, the bureaucrat may leak the story to a friendly newspaperman, the Comptroller and Auditor General of India may pounce on it, the vigilance guys may sniff something. It's too dangerous. The minister decides to either drop the matter or move it through another bureaucrat who may be more accommodating.

This is not an imaginary situation. It happens a lot of the time when the bureaucrat is honest and unafraid. Here are three examples about which I have personal knowledge.

In the mid-80s, an international tender was put out for building the HBJ pipeline from Hazira in Gujarat to Jagdishpur in Uttar Pradesh. There were four bidders and two frontrunners emerged: Spie Capag of France and Snam Progetti of Italy. The representative of Snam Progetti was Ottavio Quattarochi, the infamous friend of Sonia Gandhi.

Snam's bid was $100 million costlier than that of Spie Capag. Banking on his well-known friendship with the prime minister's family, Mr Quattarochi tried to use muscle. He is even reported to have personally threatened the then petroleum secretary, GV Ramakrishna. The difference of $100 million in the bids was too much for Mr Ramakrishna to accept. He stood firm in the decision to award the contract to Spie Capag. Even Rajiv Gandhi did not dare interfere. Mr Quottarochi lost and the country saved $100 million.

Next, during Jayalalitha's previous stint as chief minister, the Tamil Nadu Electricity Board put forward a proposal to import high quality coal costing hundreds of crores. One IAS officer, by the name of Mr Sundaram, who was the secretary to the Tamil Nadu government in charge of coal imports, smelt a rat. The coal was too costly; surely a kickback was involved. Mr Sundaram wrote in the file his refusal to clear the import. There was a kickback-this became public knowledge later-and even even Jayalalitha had to back down. Of course, she made life miserable for Mr Sundaram and within a year he resigned from the IAS.

The third instance involves the issue of shares by Southern Petrochemicals Industries Corporation (SPIC), a joint venture with the Tamil Nadu government through the Tamil Nadu Industrial Development Corporation (TIDCO). The chairman of TIDCO was Ms Chandralekha. She found that the share issue would result in heavy losses to the Tamil Nadu government and objected strongly. Jayalalitha backed off for a while.

Some weeks later, Ms Chandralekha was travelling in a car, in heavy traffic, when some goonda put his hand through the window of the vehicle and threw acid on her face. She was horribly burned. Ms Chandralekha resigned from the IAS. There was absolutely no reason for the attack, but the public drew its own conclusions. Ms Chandralekha later joined the Janata Party and became a close associate of Subramaniam Swamy.

If only there were 5,000 IAS officers who are prepared to act as honestly and bravely! If a few IAS officers can block high-level corruption, what is there that cannot be achieved by a band of motivated people?

(R Vijayaraghavan has been a professional journalist for more than four decades, specialising in finance, business and politics. He conceived and helped to launch Business Line, the financial daily of The Hindu group. He can be contacted at [email protected].)

User

COMMENTS

Pritis C Majumdar

6 years ago

All the PUs and state transport departments headed by IAS are running on loss of huge crores of rupees years after years since independence. Is not inefficiency of IAS? Thus IAS should not be posted in any industry, PUs, electricity board, ports, manufacturing units etc.. What is the root cause of these losses of national revenues? It should be investigated thoroughly.

Tira T

6 years ago

Yes, there are a few bureaucrats who have the character and courage to do so while the entire bureaucracy id truly the fountainhead of corruption, hand-in-glove with their political masters. I am sorry to say that the author is absolutely wrong in eulogising the bureaucrats who as a group are more corrupt and dangereous that the politicians who in any way come up from the gutters and we can expect no better. One must not really ignore the bureaucracy's war against Anna.

C Jyoti

6 years ago

Thank you for this long awaited article which no newspaper or journal or even electronic media has had the bcourage of conviction to write about. There is a representative case of the energetic minister of Women and Children's Affairs in the centre, Krishna Tirath. Not one single initiative of this minister has been allowed to go ahead by the sophisticated and upper class civil servants who have literally created a barrier in whatever she proposes, despite her attempts to get this IAS-laid moratorium on her dreams for the poorer women and hapless children. The reason is her background of not having been educated in the English-medium convent school or a highly sophisticated exclusive and upper-class college and for not being articulate enough in English to express her views and extraordinarily original schemes for the target sector of her ministry of WCD. She neighter has the "requisite class" nor the clout to make the IAS and CSS babus to listen to her or even adhere to her written orders so much so that the files get missing and she simply feels lost as even the autonomous bodies under her direct control blatantly ignore and disregard her. Thousands of Anna Hazares and the self-dtyled Civil Society upstart time servers from the privileged classes can never achieve anything (nor are they really serious either) unless this class divide is destroyed and India is freed from the clutches of the menacing grip of the IAS bastionj which shall remain the supreme authority nurturing and protecting their own empire as this class is the king of all it surveys, duly assisted by the entire bureaucracy and hence tooth and nail against the Jan Lokpal Bill draft as it is a threat to their permanent hegemony. Krishna Tirath's is a model case study in the class divide in the governance which only Moneylife can reasonably take up. And should.

REPLY

nagesh kini

In Reply to C Jyoti 6 years ago

A fit case for IAC's Kiran Bedi and/or Arvind Kejriwal to find action as here is a live case, right in their domain.
If the Civil Societywallah's fail to tackle, then all of Anna's efforts have gone in vain!

Narendra Doshi

In Reply to nagesh kini 6 years ago

Well said Nagesh in response to Jyoti's comment

Rajiv Ahuja

6 years ago

Kudos to bravery shown by these officials. I salute them. Thank you Ms Sucheta Dalal for sharing this .

Nagesh KiniFCA

6 years ago

Upon Chakri Bireddy's comment I visited Sundaram's blog. Going through his bio, I am convinced Mr. Sundram amply fills the bill of being adequately qualified to really represent the Civil Society in its truest form.
It is high time that men and women like Mr. Sundaram, Aruna Roy, Harsh Mander, Dr. Jay Prakash Narayan,Mumbai's Julio Rebeiro, DM Sukhtanker are brought on a common platform with dedicated professionals from other walks of life like accountants, advocates,architects, doctors, economists, engineers, journalists and the like to form an effective APOLITICAL Civil Society "Third Front". With the vast expertise behind them and no vested interests their dedication can direct the energy generated by the IAC.

REPLY

RAJIV AHUJA

In Reply to Nagesh KiniFCA 6 years ago

I agree with your statement. An endeavour should be made to bring these officials on a common platform.

Chakri Bireddy

6 years ago

One of the IAS officers, Sundaram mentioned in the article writes a blog: http://ennapadampanchajanya.blogspot.com... In his bio on the website, he says he took voluntary retirement in 1994. Appreciate his courage in the fight against corruption/nepotism. Now through this article, we know why he tool early retirement.

Vikas

6 years ago

I want to tell you how much i liked your article. I have been reading a lot about the scams took place in our country, and your illustrated note evoked the hidden truth of IAS Officers who were conscientious . It was thoughtful of you to add those personal observations. Thank you very much for an enlightening and stimulating Article.
Regards
Vikas Arya

Narendra Doshi

6 years ago

There is merit in what Mr. Vijayaraghavan has articulated. I am sure there are a little few of this tribe even today. May they grow in numbers in the days to come. Pen is indeed mighter than sword.

Nagesh KiniFCA

6 years ago

Not that the entire tribe of babus are bad or corrupt. There are a few who are upright but looked down by their crooked fellow babus in cohort with the netas who can spoil their CRs.
We have had upright Mumbai Municipal Commissioners in PR Nayak, DM Sukhtankar, SS Tinaikar and Sharad Kale. There have been others like Arun Bhatia, Harsh Mander, Aruna Roy, Dr. Jayprakash Narayan, Julio Rebeiro, Kiran Bedi who have left inedible mark during their tenure in the serviced. May their tribe increase!

Govind Shanbhag

6 years ago

Mr.V,R: Few years back there was an IAS officer named Mr.Sundaram posted at Solapur. Before Sundaram there were number of IAS officers posted in Solapur, who could not implement town planning but Mr.Sundaram, took the onus on himself implemented and whatever solapur is today that is thanks to Mr.Sundaram. There was lot of pressures from highly connected politicians, bureaucrats and also under world leaders but he did not buckle under pressure and he was very honest. I do not know whether he is the same Sundaram what u have written about or somebody else.

DR Aniruddha Malpani

6 years ago

In fact these stories are likely to discourage honest IAS officers from becoming whistle-blowers. If the neta can make life so miserable for you that you are forced to quit, how many will have the courage to stand upto them ?

REPLY

RAJIV AHUJA

In Reply to DR Aniruddha Malpani 6 years ago

I agree with your observation..

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