Termination of multi-level marketing activities with Golden Lotus Company

The Director of the Competition Management Department (Ministry of Industry and Trade) has just decided to revoke the multi-level marketing registration certificate of Golden Lotus Investment, Production and Trade Joint Stock Company.

» Many businesses stop multi-level marketing in Nghe An

The Director of the Competition Management Department (Ministry of Industry and Trade) has just issued a Decision to revoke the Multi-level Sales Registration Certificate No. 039/QLCT-GCN of Golden Lotus Investment, Production and Trade Joint Stock Company with head office address: BT2-27, Trung Van New Urban Area, Trung Van Ward, Nam Tu Liem District, Hanoi City.

According to the Competition Management Department, this Business Registration Certificate No. 0106702312 was first issued by the Hanoi Department of Planning and Investment on November 27, 2014, and registered for the 6th change on February 2, 2016.

The reason for revoking the operating license is because this enterprise did not fully meet the conditions for multi-level sales activities stipulated in Article 7 of Decree 42/2014/ND-CP on management of multi-level sales activities.

Revocation of a multi-level marketing enterprise's certificate does not release the enterprise from its obligations before the law, including the obligation to ensure the legitimate rights of distributors and multi-level marketing participants in the enterprise's multi-level marketing network.

To ensure their rights in case a multi-level marketing enterprise has its certificate revoked, distributors and multi-level marketing participants can and should take steps according to the instructions at http://www.vca.gov.vn.

Uyen Huong/baotintuc