AISPA Updates - 21st April,13

Dear Speakasians,
We once again bring to you the current situation in the Speakasia matter as below:
SLP (cri) 3130/2013 in the Hon’ble Supreme Court of India arising out of the Disposal of ABA 1083/2012 In the Hon’ble Bombay High Court:
The Anticipatory Bail Application of our secretary Mr. Ashok Bahirwani was heard on 19th March, 2013. The ABA has been dismissed and the detailed order was uploaded on 4th April, 2013 and is available for view on the website of the Hon’ble Bombay High Court:
Mr. Bahirwani however had been provided an opportunity to approach the Supreme Court. The undertaking given by the Special Public Prosecutor that Mr. Bahirwani will not be arrested to continue till 12th April, 2013.
Consequently an SLP (Criminal) was preferred in the Hon’ble SC and the same was heard on 12th April, 2013 and it was ordered that the “Interim protection is granted, till further orders”.
The said order can be viewed on the website of the Hon’ble Supreme Court:
Pertinent to note here is that under an order dated 7th December, 2012 of the Hon’ble High court the company was served a notice to come before the Hon’ble court and explain the business model, pursuant to which the company submitted an exhaustive affidavit running into hundreds of pages.
We wish to reproduce some paragraphs from the said Affidavit as under:
“Speakasia at all times, despite various criminal cases having been registered against them maintained the stand that they are ready and willing to make payments to those who have opted for exit option. Such an endeavor could be seen from i) various correspondences written to all central and state government authorities ii) various correspondences written to Reserve bank of India iii) submissions before the Hon’ble Justice R C Lahoti iv) deposit of 10 Million US Dollars with the Supreme Court of India;
Above all, the Company is still ready and willing to fulfill its obligations towards the Panelists who have opted for exit option
The complainant in the present C.R. No. 60 of 2011 dated July 28, 2011 i.e. Navnit Khosla, as understood by us, have received his entire dues and also has filed an Affidavit before this Hon’ble High Court that he does not want to pursue his complaint any further;
In any event, strictly without prejudice to the above, there is no question of Speakasia and/or its officials having committed cheating or criminal breach of trust particularly when they are still ready and willing to cooperate with the authorities and fulfill its obligations under the Exit Option; and
It is only due to inappropriate and unfitting actions taken by various authorities arbitrarily and in haste without granting any opportunity to Speakasia, just keeping in mind negative media campaign, the present situation has arisen where Lacs of Panelists are not even able to receive the money which is due and payable to them “
ABA 174/2013 In the Sessions Court, Mumbai: This is the Anticipatory Bail Application of Mr. Aman Azad aka Vivek Roopchand Sharma.
This Application will now be heard on 18th April, 2013.
The involving of Mr. Ashok Bahirwani and Mr. Aman Azad by the EOW as accused persons and the arrest of Mr. Melwyn Crasto in November 2011 clearly exposes the EOW’s intention of harassing the panelists connected and working actively for AISPA.
This act of the EOW against AISPA is an absolute high handed behaviour on the part of the authorities whose only objective in this could be to stifle the voice of the panelists and to harm the unity of us Speakasians.
What we cannot understand is why the authorities would want to harm us the Panelists as we are only fighting for our monies to be refunded back to us. In fact the authorities like the EOW should also be interested in this as this is the only larger PUBLIC INTEREST to ensure that the monies of the small and marginal investor is safeguarded and returned to them.

EXIT PAYOUTS: We at AISPA had uploaded some EXIT PAYMENT proofs on our website, the EOW is claiming that these payment proofs put up on our website are false. We place on record with full responsibility after having done a recheck that all the proofs put up on our website are 100% genuine, clearly indicating that the EXIT PAYMENT are being effected to the bank accounts of our constituents the panelists of SAOL.
We once again urge all the Panelists who have received the payouts in the bank accounts to upload the same so that this information percolates down to the entire panel base.
We receive loads of phone calls from panelists around the country asking if the company will announce a fresh round of EXIT OPTION for the panelists who for various reasons could not opt for the first EXIT OPTION.
We at AISPA through an update of 2nd February, 2013 had urged the company as follows:
“We also wish to urge the Company that many of our members have not been able to opt for the EXIT PAYMENTS in the first phase which ended on 31st March, 2012. As such it would be only fair and proper for the company to have one more round of EXIT OPTION for all those members who wish to EXIT OUT from the business model”.
We will continue to relentlessly follow up with the company to ensure that a second round of EXIT OPTION is announced by the company for the Panelists who have missed out from the first phase.
AISPA INITIATIVE/PROTEST: In our interaction with Panelists spread across the country and on following the emotions of many Panelists on various social networking sites and other forums we have come to realize that the general mood of the panelists is that we should undertake some sort of a public demonstration on an ALL INDIA basis to highlight the excesses against us Speakasians and to bring to light before the various government and semi government authorities the inordinate delay in refunding of the EXIT PAYMENTS.
Towards this end we wish to request all Speakasians to start activating your teams and be prepared and ready to stand united together once we formalise and announce such an ALL INDIA movement to protest the delay in receiving our legitimate return of payments from the Company.
Team AISPA has created an E mail:, Speakasians are requested to send in their suggestions, opinions and their consent for working towards making this envisaged protest a huge success.
As we enter this new financial year 2013-14, the accounts of AISPA have been handed over to our Auditors for final auditing. The next AGM of the Society will be held sometime in the month of June, 2013. All members who have paid their annual membership fees for the financial year 2012-13 are hereby called upon to pay their membership fees for the financial year 2013-14 before 15th June, 2013 to be eligible for attending the AGM and to avoid discontinuation of their membership of the Society.
AISPA will update the modalities and procedure to send in your Annual Membership Fees within a few days.
Next Dates in the matters filed by the Company are as follows:
WP/3210 & 3211/2011 in the Bombay High Court: This matter is now posted for 22nd April, 2013.
WP/1127/2013 in the Bombay High Court: This is a new writ filed by the company in the Hon’ble Bombay High Court. The Matter is now listed for 22ndApril, 2013.
Stay tuned for updates in the Speakasia Matter.
Warm Regards

SpeakAsia Updates 25th Sept,12

Dear SpeakAsians,

In furtherance to our earlier communication and also to bring more clarity to the subject please find below the course of action as being decided by the company:-

1) Whilst waiting for the Order passed by the Hon’ble Supreme Court to be made available to us, we would like to repeat and reiterate that payments to panelists opting out under the EXIT option remain the utmost priority for the Company.

Speakasia's final verdict is expected to be on 8th August

The next date of hearing of speakasia's case (383/2011) is on 8th August,12.On the last hearing which held on 10th May, 2012 the hon’ble supreme court has taken note of the seriousness of the matter and has decided to hear the matter at length so as to reach a decision.
On 8th August,2012 hearing we can expect a final decision on this matter. Below is the official communication from the management:

Dear Speakasians,

Yesterday was a very important day for us as our matter was heard by Hon'ble Supreme Court and we got a favourable response in the interest of all our panelists. We are happy to share that Honourable Court gave a patient hearing to our learned counsels and the other parties. The Hon'ble Court heard our plea that EOW is making baseless objections in sharing our data and we are not getting any cooperation from EOW in resolving the matter and disbursement of money which is already lying with the Registrar of Hon¹ble Supreme Court.  Based on our pleas, the Hon¹ble Court directed EOW to hand over the data to the Hon'ble Court on the next date fixed as 8th August for final disposal.

This indeed is a great achievement as we are inching close to our victory. What normally takes years to achieve, we have been able to get in just 3-4 months. We will use this interim period to consolidate our position which should help in early resolution of our problems.

We would also like to point out that Mr. Navnit Khosla has been consistently pursuing the matter in one form or the other and in different forums despite AISPA members handling his claims and his affidavit in that regard before Hon¹ble Mumbai High Court.  We fail to see his ulterior motive to derail the process of disbursement of money to panelists who have chosen to exercise the company’s exit option.

We would also like to share with you that we are taking legal opinion regarding early resumption of our business in India. We understand that some misguided people will try to spread panic and create doubts in the minds of our people. Also, do not give any of your personal details to any unauthorised person or on website which claims to be collecting data on behalf of the company.

We once again urge all our Speakasian family members to remain calm and patient as the resolution to our problems are well within our sights.

Warm Regards,
SpeakAsia Corporate Marketing Team

speakasia consumer protection movement:12th may,12

On 12th may,AISPA is organizing a nation wide movement called as "Consumer Protection Movement".Below is the promo "Consumer Protection Movement"

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