Kurnool district court of Andhra Pradesh today rejected the bail petition moved by Amway India CEO William Scott Pinckney, arrested in connection with a criminal case filed against the direct selling company.
The court while rejecting the bail plea, allowed police to take him into five-day custody for further questioning, said Kurnool Superintendent of Police (SP) Raghurami Reddy.
Responding to a complaint alleging financial irregularities in Amway’s operations, Pinckney was arrested in Gurgaon by the Kurnool Police on Monday and brought to Kurnool on a Transit Warrant.
The charges had been filed against Pinckney under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. This was the second time Pinckney has been arrested in this country. The Kerala police arrested him last year on similar charges .
The Federation of Indian Chambers of Commerce and Industry (Ficci) and the Indian Direct Selling Association (IDSA) have condemned the arrest.
Amway India Statementon the same:-
We are aggrieved and shocked at the sudden and unwarranted act of detention of our official. Due to the lack of a legal framework for the direct selling Industry, any case filed is being misinterpreted and booked under the Prize Chits and Money Circulation Schemes (Banning) Act 1978 (PCMCS), which is otherwise intended to regulate financial schemes. The case against which the action has been taken was filed in December 2013. The company had no prior information on the same. The allegations mentioned in the FIR are frivolous and gives a misleading impression about our business.
Amway, as a law abiding corporate, has always cooperated in such investigations, and has been responsive to the queries and documentation. Till date, Amway has furnished all information and documents sought by the Police officials.
In India, Amway is a legitimate direct selling FMCG organization operating in the country since 1998, selling more than 140 high quality products. We have been compliant with all laid down laws and guidelines of Union and State Governments. We have also made an investment of more than 100 million dollars in a manufacturing facility in the country.
Globally, Amway is a 50 year old, US$11billion, manufacturer and direct seller of high quality consumer goods operating in over 108 countries. Amway operates its business through the direct selling model in markets with very stringent direct selling and consumer protection regulations like the USA, UK, China, Malaysia, Singapore, Vietnam to mention a few, without challenge or inhibition maintaining the highest levels of probity, integrity, corporate governance and consumer protection standards.
We would like to reiterate our confidence in the judicial processes and legal system of the country.
The court while rejecting the bail plea, allowed police to take him into five-day custody for further questioning, said Kurnool Superintendent of Police (SP) Raghurami Reddy.
Responding to a complaint alleging financial irregularities in Amway’s operations, Pinckney was arrested in Gurgaon by the Kurnool Police on Monday and brought to Kurnool on a Transit Warrant.
The charges had been filed against Pinckney under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. This was the second time Pinckney has been arrested in this country. The Kerala police arrested him last year on similar charges .
The Federation of Indian Chambers of Commerce and Industry (Ficci) and the Indian Direct Selling Association (IDSA) have condemned the arrest.
Amway India Statementon the same:-
We are aggrieved and shocked at the sudden and unwarranted act of detention of our official. Due to the lack of a legal framework for the direct selling Industry, any case filed is being misinterpreted and booked under the Prize Chits and Money Circulation Schemes (Banning) Act 1978 (PCMCS), which is otherwise intended to regulate financial schemes. The case against which the action has been taken was filed in December 2013. The company had no prior information on the same. The allegations mentioned in the FIR are frivolous and gives a misleading impression about our business.
Amway, as a law abiding corporate, has always cooperated in such investigations, and has been responsive to the queries and documentation. Till date, Amway has furnished all information and documents sought by the Police officials.
In India, Amway is a legitimate direct selling FMCG organization operating in the country since 1998, selling more than 140 high quality products. We have been compliant with all laid down laws and guidelines of Union and State Governments. We have also made an investment of more than 100 million dollars in a manufacturing facility in the country.
Globally, Amway is a 50 year old, US$11billion, manufacturer and direct seller of high quality consumer goods operating in over 108 countries. Amway operates its business through the direct selling model in markets with very stringent direct selling and consumer protection regulations like the USA, UK, China, Malaysia, Singapore, Vietnam to mention a few, without challenge or inhibition maintaining the highest levels of probity, integrity, corporate governance and consumer protection standards.
We would like to reiterate our confidence in the judicial processes and legal system of the country.
