The government has decided to seek opinion from the stakeholders before giving license to the controversial Multi Level Marketing (MLM) company Destiny 2000 Ltd.
We have decided to seek opinion from bankers, stock specialists, businessmen and even the journalists over the advantages and disadvantages in giving the licenses to the controversial MLM companies, said a high official of the commerce ministry.
Registrar of the Joint Stock Companies and Firms (RJSCF), rejected the company’s appeal for license on March 9, this year along with 16 others companies.
Earlier, the ministry’s appellant committee did not allow the Destiny to run its operation as the matter is still pending in court after the Anti-Corruption Commission (ACC) had filed several cases against the activities of the high-ups of the Destiny.
According to the MLM Activities (Control) Ordinance–2003, the government will have to give its clarification within seven days from 90 days of the license cancellation of the MLM firms. After 97 days, the potential MLM firms can take legal steps for obtaining court directives in getting their licenses
A 90-day time frame has already been over in case of the license cancellation of the controversial Destiny by RJSCF, according to a commerce ministry source.
The government is now examining the proposal for giving licenses to the MLM company Destiny, senior secretary of the commerce ministry Hedayetullah Al Mamun told Dhaka Tribune yesterday.
The commerce ministry had issued a gazette notification on the MLM activities (Control) Ordinance-2003, which went into effect as an ordinance in September 2, 2013. The Anti-Corruption Commission (ACC) filed two cases in July 2012 against 22 Destiny officials on charge of laundering Tk4,200 crore.
The ACC pressed charges against the Destiny Group Managing Director, Destiny 2000 President Lt. General (retd.) Harun-Ar-Rashid and 49 others in the two cases on May 4 this year.