Capitalmind
Capitalmind
Actionable insights on equities, fixed-income, macros and personal finance Start 14-Days Free Trial
Actionable investing insights Get Free Trial
General

QNet Banned From Coffee Day Also

I went to a Coffee Day today and it has the following notice, prominently displayed at the entrance:

image

What it says is:

As per instructions received from Economic Offense Wing – Crime Branch, Mumbai

and

Additional Commissioner of Police, Mumbai

Entry is prohibited for representatives, Staff and Employees of:

M/S Vihaan Direct Selling (India) Pvt. Ltd.

M/S QNET Ltd. Hong Kong

M/S Transview Enterprise India Pvt. Ltd.

M/S Vanmala Hotels, Travel and Tourism Services Pvt. Ltd.

By Order,

Cafe Coffee Day….

This is very cool. The MLM scams being perpetrated by the QNet types have been pushed at all sorts of Coffee spots. Mostly, the way they operate is:

  • Call people over to a Coffee day for a meeting to discuss “a business proposition”
  • Hard sell them the scam MLM called QNet
  • Make them pay a few lakhs for entry so they can find the next bakras to call to the Coffee Day next week
  • Rinse, Lather, Repeat

Coffee day has perhaps figured out this is a serious problem for their own image. The barista told me

But does such an order exist? Can such people be banned from Coffee places? If so, why not completely ban their organizations and put criminal charges, if they are so unwanted?

I guess they don’t pay for too many coffees, which is probably why Coffee day was quick to implement this order. Oh and this may be the result of what happened recently: QNet’s offices were shut down in Bangalore after a raid four days ago.

I have written about scam MLMs in the past, and specifically about how QNet has been awful in that regard. But this takes the cake – imagine, even the coffee shops don’t want them!

divider

Subscribe to Capital Mind:

To subscribe to new posts by email, once a day, delivered to your Inbox:

[wysija_form id=”1″]

 

Also, do check out Capital Mind Premium, where we provide high
quality analysis on macro, fixed income and stocks. Also see our
portfolio which has given stellar returns in our year, trade by trade
as we progress. Take a 30-day trial:

[wysija_form id=”2″]

Like our content? Join Capitalmind Premium.

  • Equity, fixed income, macro and personal finance research
  • Model equity and fixed-income portfolios
  • Exclusive apps, tutorials, and member community
Subscribe Now Or start with a free-trial