According to the research online regarding the company its been banned in Nepal and Bhutan and it collapsed in srilanka and Philippines and even in chennai in India it had a shut down due to scam reasons but still the company seems to be on its feet in mumbai in India.

I wonder how and why... when its been legally banned and shut down in these countries how come is it still functioning in mumbai... isn't binary system where they are selling products to its own members a scam.

It is definitely a scam! Be wise...dont put your hard earned money in these fraud schemes. Even i have lost money 2-3 years back in this business in Mumbai. The business model is actually crafted very wickedly...makes you believe that the products sold are of numismatic value n crap...if you go to sell them in the market n everyone will show you the door. All the topliners(people who introduce you to the business) disappear after getting you enrolled... Unfortunately questnet has good backing by govts due to the involvement of govt officials too...obviously their palms have been greased so as to allow them to run questnet.
Most of the posts here praising questnet here are clearly posted by questnet company hired surfers or by some newly entered dumb fu**s...you can make out from the vernacular languages used by them.
Beware of questnet!