future of network marketing
Everyone must have come to know about the relief which honorable Supreme Court of India has given to SAOL and its 20 Lakh panelist. This and the coming judgement in this high profile case is going to be a landmark in the history of Network Marketing in India. we thought of publishing an article on the potential and future of Network Marketing in our country.
Network Marketing is not some fad but a scientific, organized, proven way of doing business worldwide.
Some of the facts about Network Marketing :
Network Marketing is not some fad but a scientific, organized, proven way of doing business worldwide.
Some of the facts about Network Marketing :
- Started in 1941 in USA and has evolved into an industry world over.
- Network Marketing is well entrenched in over 80 countries.
- Many NM companies exhibit rapid growth in Annual Turnover [20% to 300%].
- As per Indian Direct Selling Association (IDSA), at INR 4,120 crores (US$915 million) for FY09–10, the industry displayed a robust 24% growth over the previous year (2009) Major players in the market believe that India, with its large population and increasing per capita income, presents an attractive opportunity for companies to expand their footprint. more than INR409 crores (US$90 million) paid as taxes in year 2009-10.
- Micro trends: (a) Recruitment will increase rapidly since current demand is to increase the earning capacity; (b) All member companies are launching new products this year; (c) All companies are expanding going to have new distribution centres to reach their customers quickly and the focus would be rural India.
- Macro trends: Legitimization, authenticity, range of products, prevention of fly by night operators, growing support from the Indian and global Industry at large and requisite attention from the Government and policy makers. Qualifications of a successful
- Networker: Although the Network Marketing does not require any specific qualification, successful Networkers are known to have exceptional: Selling skills Presentation skills Motivation skills Leadership skills A basic understanding of finance However, two key factors critical for success are: Focus, commitment and hard work Faith in the direct selling profession and the industry. Friends ! after the honorable Supreme Court gives a go ahead in the SAOL case the business is going to blast. Now its the time to go back to your respective network teams and gear up for the business restart. We wish all Speak Asians very bright financial future.
Open Letter to Mr. Mateen Hafeez
Date: 24th October, 2011
Dear Mr. Hafeez,
I address you on behalf of the entire Speakasian Family in the capacity of the Secretary of All India Speakasia Panelist Association.
I wish to draw your kind attention to my earlier letter regarding your report “MBA grad lost Rs. 14cr to SpeakAsia” appeared in the TOI dated 9th August, 2011. I think you may have been busy cooking up unbiased stories, especially against Speakasia, and for this precise reason you may have not replied to the above mentioned letter.
Mr. Hafeez where may I ask are the over 100 complaints that you had mentioned in the said article and where is your imaginary MBA grad Mr. Sharad Yadav who had lost the whopping 14 crores. Come on Mr. Hafeez stop fooling around and get serious, you are playing around with careers of 20 lakh people.
I had drawn your kind attention to the fact that your said impugned report dated 9th August was an outcome of lazy Journalism and your report was a body of misinformation. I had ended my said letter as follows “I hope to read more enlightened and researched news reports from you in the future”.
Mr. Hafeez you have dashed my hopes and I now reach a conclusion that persons like you of low gravitas do not want to change. You epitomize the face of corrupt journalism. It is abundantly clear Sir, that you are motivated and absolutely biased against the company Speakasia online.
Allow me to explain my thought Process as under:
1. Is it your secret desire to be a JUDGE and it seems you have been forced to take up a career in Journalism. I think you secretly dream of being called Hon. Justice Mr. Hafeez. My advice to you is to stop dreaming such eventualities, as the basic prerequisite to becoming a Judge is to have basic intelligence and integrity and sorry to say you seem to be lacking on both counts.
Mr. Hafeez now that we have established that you are not qualified to become a Judge I urge you to stop passing Judgment like you have done in your report of 24th October, 2011 when you caption your mischievous article “Fraud firm COO disappears while on bail”.
Mr. Hafeez you seem eager to do everything else except do your basic duties of Journalism, You are an overzealous investigator, very cunning prosecutor, and a very sick judge.
2. You start by saying that “Tarak Bajpai has disappeared and we don’t know where he is” said an officer. You are silent in saying officer from which agency, I am sure it cannot be an officer from the EOW as they will not make such wrong comments. I hope you have not been talking to the officer of your office canteen, as corrupt journalists like you are known to while away their time drinking cutting chai. I hope this officer is not once again a product of your hallucinating mind like the fictional MBA Grad Mr. Sharad Yadav (see para 3 above).
1. In para 4 of your impugned report you go on to say “Company’s defunct website” as if to say that the company has closed down the website. Hon. Justice Hafeez sahib [sic]
Mr. Hafeez the website is not defunct by choice it is defunct because the admin rights are with EOW and the website will be fully operational as soon as EOW returns the website to the company.
2. It now seems that you are not only misinformed you are actually handicapped especially when it comes to figures. This was also evident from your earlier report of the 9th August referred above and now when you say that the matter could run into 14000 crores. Under no stretch of imagination this could result in those numbers. My niece in 5th standard can calculate that 20lakh X Rs. 11000/- does not become 14,000 Crores. I am now quite sure Judge Sahib that you are not only corrupt, you are also a lazy Journalist who can be easily motivated against anybody, and now it seems you use the outdated abacus for calculations, Sir buy a calculator.
3. Wow, you simply amuse me Hafeezji, ‘kya kamal ka dimag paya hai aapne’ now where you got this news that the head office was in Mumbai and not in Singapore. Mr. Hafeezji you seem to forget that initially you were reporting that this company has no office in India and there was no PE, then you in today’s report say that more than 1000 Crores were siphoned off to Singapore then you suddenly come up with this piece of news that SAOL has its head office in Mumbai.
Come on judge sahib make up your mind.
4. Hafeezji, you end your misleading article by saying that Red Corner Notices have been issued against seven officials. May I ask you sir, who are the seven officials? Or once again these seven officials are the fictional characters in your now confirmed sick and hallucinating mind.
Mr. Hafeez please get your facts right. The bail condition was that all the concerned persons had to attend the EOW office every Monday and Thursday. While Mr. Tarakji was in the hospital the advocates filed for exemption from personal appearance on Medical grounds as Mr. Tarakji is recuperating and is advised complete bed rest. The advocates are filing regular applications for exemption of personal appearance. This, under no circumstances, tantamounts to jumping bail or absconding without trace. Mr. Hafeez sahib, please get your facts verified before reporting. Oh I am sorry I am asking you to work we know by now you report based on hallucinations.
I have again and again demonstrated above that you Mr. Hafeez have an over fertile, hallucinating and a sick mind. You have a tendency to cook up fictional characters and you seem to suffer from short term memory loss. You Mr. Hafeez are a person of very low gravitas. I on behalf of the entire 20 lakh Speakasian Panelists place my severest objection to your falsified news.
I sincerely hope that the company SAOL takes attention of your malicious campaign against the company and moves the appropriate legal forum as they may be advised.
I am keeping a copy of this letter which I will use to lodge my protest and complain against you in whatever forum I am advised by the counsel of the Association.
Warm Regards,
Ashok Bahirwani
Secretary
Aispa
Blog Updates-18th Oct-SpeakAsia
October 18th,2011.
Dear Panelist,
The Honourable Justice Dalveer Bhandari of the Supreme Court strongly reprimanded the Ministry of Finance and the Reserve Bank of India, for not having filled the reply affidavit, to the written petition filed by the panellists of Speak Asia. Ministry of Finance and the Reserve Bank of India were supposed to file their reply on or before the 10th October 2011. Justice Dalveer Bhandari has asked Additional Solicitor general Kitit N. Rawal to ensure that both the respondents should file their affidavit before the next hearing. He also said that the casual attitude of the Government in this issue was very disturbing as it was the issue of the money and livelihood of so many people.
Disposing before the bench of Justice Dalveer Bhandari and Justice Deepak Varma, Gopal Subramanian, senior council for Speak Asia explained the total business model of the company. He compared the business of Speak Asia to that of Ebay, where the consumer benefits most. He said this was a much better and refined version as the consumers not only got great deals but could also earn reward points that could be used to buy goods and services. He also emphasised on the training initiatives taken by the company. He lauded the extraordinary vision of the two Singapore based entrepreneurs and the unfortunate victimisation of the company
He urged the court to form a committee headed by Retd. Chief Justice R.C Lahoti, to facilitate the payments to be made to the panellists. He said that the company has the resources to complete all their obligations. He further added that the they have no problems with the ongoing investigations and had upmost faith in the law of the land. He also appraised the court on how the company has been harassed on the basis of some unsubstantiated media reports, and was pursuing legitimate business in the internet space which is the future of all business transactions
The council for the panellist Mr.Mukul Rohitgi urged the court for immediate relief for the panellist. The Supreme Court was most inclined to set up a committee to look into all the issues of the company and its panaellists
The Supreme Court has also instructed the CBDT and the EOW – Mumbai police who have the records of all the payments to be made party to the case, to be present for the next hearing which will be in the next two weeks.
This is wonderful news for all Speak Asians, as they see a ray of hope not only in being able to receive the money that they have earned but also to continue to work and grow with Speak Asia but on the other hand we would also request you all not to trust any rumor or any fake document as there has been fake documents circulating on the internet with fake stamp and sign of our chairperson.All official communication coming from SAOL will be on our official blogspot site which is
www.speakasiaonlinemarketing.blogspot.com and all the official e-mails will come from our following official e-mail id’s-
corcom@speakasiamarketing.com
marcom@speakasiamarketing.com
Regards,
SpeakAsia Corporate Marketing Team.
SpeakAsia: SC hearing tomorow
The case of Speak Asia, the online survery company which is at the centre of a huge scam, is set to come up before the Supreme Court on Monday. Some of the investors have approached the court. Surprisingly many of them are expressing faith in the firm and are asking the government agencies to remove the freeze on the accounts of these firms.
However, for millions like Solomon James, the apex court is the only option left to retrieve their money from the now tainted online survey company.
Solomon James said, "We are saying that if the company wants to return our funds, they must be allowed to do so."
The scam first hit headlines earlier this year when BJP's Maharasthra leader Kirit Somaiya blew the whistle.
The Singapore based company claimed to be conducting online surveys for popular brands in India, a claim which was later denied by some of the brands. The company was collecting Rs 11000 from individuals promising them huge returns over a period of time. It was this contradiction that had led to the arrest of COO of Speak Asia, Tarak Bajpayee, and seven others.
When contacted, Speak Asia CEO Manoj Kumar said, "We have always mantained that we have been making attempts and will continue to make attempts to fulfil all our obligations towards the panelist."
Government agencies are on an overdrive to figure out the source of funding for Speak Asia but no clear cut answers are emerging on that front so far.
CNN-IBN
SpeakAsia director plea dismissed.
Justice Samudrala Govindarajulu of the Andhra Pradesh High Court on Tuesday dismissed the bail petitions of the Speak Asia Online Pvt Ltd director, Rajiv Melhotra, and four of its employees. The CID of AP registered a case against the company for running a business of money circulation in India without any authorization or licence. The CID in its FIR alleged that the company has so far collected more than Rs 2,200 crore from Indian citizens out of which over Rs 600 crore has been transferred to Singapore.
The company moved the High Court against the FIR, but the court dismissed its plea and also vacated the stay on the arrest of the directors, representatives, officials and employees of the company. Apprehending an arrest in view of the dismissal of their quash petition, the director and four of the company employees filed anticipatory bail petitions.
The prosecution opposed the bail petitions contending that the arrest of the company director and other accused will help the investigation to unearth the quantum of funds collected by the company from the public.
Two weeks for Gali on CBI plea
Justice Raja Elango on Tuesday granted two weeks time to Gali Janardhan Reddy and his brother Srinivas Reddy to respond to a plea by the CBI challenging the order of a CBI court that refused the application of the investigating agency to extend the custody of the duo to continue its interrogation in illegal mining case. On September 13 the special court granted six days custody of the brothers to the CBI which elapsed on September 19. Then the CBI sought extension of the custody and the special court rejected its application.
The CBI contended that it has at least one more week of custody of the duo to get more details of various aspects of the illegal mining case. The CBI told the judge that it had sought 15 days custody, but the lower court granted only six days, which is not sufficient to elicit information from the accused.
HCA plea in HC adjourned
Justice Raja Elango on Tuesday adjourned the plea of the Hyderabad Cricket Association to Thursday. The HCA challenged the order of the ACB Court to probe into its affairs. Mr Shivlal Yadav, Mr Arshad Ayub and other HCA office bearers challenged the ACB Court order.
DECCAN CHRONICLE
Amway & SpeakAsia
I guess many of you are already aware about Amway. It was the first international MLM company to hit Indian market. I am not comparing Amway with Speak Asia in any way as the business model is different in both the companies. I am just bringing the fact that Amway has already gone through the scenario which Speak Asia is facing today.
Multi Level Marketing is a legal business not only in India but abroad as well. But the fact is that people are not aware of its working concepts.
Amway was first to hit Indian market some 13 years ago (I guess) and it is still in the market.
Amway has several times been accused of being a pyramid scheme. A 1979 FTC investigation in the United States, a 1997 Belgian court and a 2008 court judgement in the United Kingdom all dismissed these claims.
In September 2006, following a public complaint, Andhra Pradesh state police (CID) (Most of the complaints are in this state I guess) initiated raids and seizures against Amway distributors in the state, and submitted a petition against them, claiming the company violated the Prize Chits and Money Circulation Schemes (banning) Act. They shut down all offices of firm Amway, and Arijit Saha writes that “with it the fate of 80,000 distributors of the company has been indefinitely sealed“. – Source (Wikipedia)
The same is happening with Speak Asia at the moment. I don’t want to comment whether the company is right or wrong but the fact is that the fate of 2 million Speak Asia panelists has been sealed.
Govt. or Court should give these kind of cases to “Fast Track Courts” so that the judgement may come bit early. People are desperate with no clue whatsoever regarding the cases and proceedings. Every Speak Asia Panelist wants company to start its operations as soon as possible but the fate of the company is in the hands of Govt and Court.
If for any reason, company fails to satisfy the RBI, no doubt the business will be closed but if it satisfy the RBI, chances are that the company may start its operations in India again.
The only person crushed in between the Govt and the Company is the “Panelist” of Speak Asia.
Custody of Sanjeev Dandona and Nayan Khandor extended till 12th oct.
Sanjeev Dandona |
An official from the Economic Offence Wings (EOW), who preferred anonymity, told Moneylife, “Their custody has been extended till 12th October.”
Mr Dandona was arrested by the EOW on 29th September, after it was learnt that he was the proxy owner of Kritanj Management & Allied Services and is linked with Speak Asia. Kritanj Management is the master distributor of Singapore-based Haren Ventures Pte Ltd (HVP) for e-zines in India. Mr Dandona is also alleged to be advising HVP and Tulsient Tech Pvt Ltd and also transferring funds collected by Speak Asia agents to Singapore.
Just the day after the arrest of Mr Dandona, it was revealed that the online surveys, which Speak Asia used to claim (and its agents used to believe), were actually created not in Singapore, but in Mumbai. This was revealed following a confession from Nayan Khandor, a Web designer and director of Dadar (central Mumbai)-based Brand Salon, that his firm was active in creating the online surveys for Speak Asia.
According to an investigation officer, Mr Khandor confessed that he was given the task of creating online surveys and designing the e-magazine by Speak Asia's chief executive Manoj Kumar Sharma and has been involved in this job since February 2010. The material seized from Mr Khandor’s office also indicates his close relation with Speak Asia. He was arrested on 30th September.
When asked about the investigations, the official added, “They are being examined on various counts. Dandona has given some leads relating to the top bosses such as Manoj Kumar and Haren Kaur of Speak Asia. Nayan was just responsible for the designs, so not much has been revealed from him.”
Moneylife had reported earlier that Mr Dandona has confessed that Speak Asia was running a Ponzi scheme.
Earlier in 2002, Mr Dandona was charge-sheeted by the CBI (Central Bureau of Investigation) along with seven other people, including three officials from the Transport Department of Delhi Government for allegedly issuing forged permits for new auto-rickshaws. Last year in May, Justice Vipin Gandhi of the Delhi High Court dismissed Mr Dandona’s petition saying, "Prima facie, his involvement appears to be deep-rooted. It cannot be said that on the basis of the allegations contained in the charge-sheet the petitioner WP (Crl.) 586/2010 Page 15 of 16 may not have been involved in the criminal acts attributed to him. Consequently, I see no merit in this petition and dismiss the same.”
Updates 11th oct,11
THIRUVANANTHAPURAM (KERALA)
The State Cabinet approved on Wednesday September 7, 2011 the recommendations of the committee headed by Chief Secretary P. Prabakaran on direct selling, specifying guidelines for the sellers.
Chief Minister Oommen Chandy told the media after a Cabinet meeting that direct selling companies which abided the law and did not cheat or fleece customers would be allowed to function. They should not function like money chains or resort to tax evasion. Compulsory subscription or insurance would not be permitted at any stage.
The Chief Minister said the offices of multi-level marketing companies closed following police action could reopen if they functioned according to the guidelines, which would be communicated to the police immediately. Cases against them would be withdrawn if their operations were within the parameters of the guidelines. Otherwise, they should change their mode of operation before restarting sales.
An official release said the guidelines specified that the consumer should have the right to get refunds if products found unsatisfactory were returned within 30 days. No product should be forced upon the sellers by the company and no membership fee collected.
Commissions paid to direct sellers should be in tune with the quantity sold. The consumer should get an opportunity to examine samples before buying. Companies would be required to provide full information on their products and sellers. Salesmen should have identity cards issued by a government agency and should take advance permission for selling in various areas. They should issue clear records of the sales to the customer.
Companies should be authorised to do business in India and should file all mandatory returns. They should have trademarks or licences. They should maintain a regularly updated website giving details of their products, services, price, and other details, besides information on their companies.
स्पीक एशिया के पैनलिस्ट पहुंचे सुप्रीम कोर्ट
पैनलिस्ट चाहते हैं, कंपनी उनके खाते में पैसे जमा करवा रही है तो जमा होने दिया जाए कानून के दायरे में नहीं स्पीक एशिया
जांच एजेंसियों ने कहा कि स्पीक एशिया एक मनी सर्कुलेशन स्कीम चला रही थी जो कि कानून के दायरे में नहीं है। हालांकि मुंबई पुलिस की आर्थिक अपराध शाखा तीन महीने की जांच के बाद भी चार्जशीट दाखिल करने की प्रक्रिया पूरी नहीं कर पाई है। पैनलिस्ट परमिंदर सिंह का कहना है कि हमारी सभी से अपील है कि बकाया जांच के चलते भुगतान को न रोका जाए। हमारा जांच पर कोई ऐतराज नहीं है पर अदालत का फैसला आने तक हमारा भुगतान रोकना सही नहीं है। पैनलिस्ट अब विभिन्न प्रकार के प्रदर्शन, हस्ताक्षर अभियान चलाने की रणनीति पर भी काम कर रहे हैं।
स्पीक एशिया के 12 लाख से अधिक पैनलिस्ट को कई माह से कंपनी का विवाद सुलझने का इंतजार है। इनमें से १०० से अधिक पैनलिस्ट ने सुप्रीम कोर्ट का दरवाजा खटखटा कर राहत की मांग की है। गौरतलब है कि ट्राईसिटी में ही स्पीक एशिया के १ लाख से ज्यादा पैनलिस्ट हैं।
इनका कहना है कि कंपनी अगर उनके खाते में पैसे जमा करवा रही है तो उसे जमा होने दिया जाए। दरअसल खातों पर रोक होने के चलते कोई लेनदेन नहीं हो पा रहा और कंपनी की तरफ से भेजा गया पैसा भी वापस जा रहा है। इस बीच कंपनी ने पैनलिस्टों को पैसे लेकर भी कंपनी से बाहर होने का प्रस्ताव दिया लेकिन खाते फ्रीज होने के कारण यह भी नहीं हो पा रहा।
पैनलिस्टों के वकील राजीव रंजन के अनुसार कंपनी के खातों में कुछ भी जमा होने से रोका जाए लेकिन अगर कंपनी पैनलिस्टों को पैसे भेज रही है तो उसे उनके खाते में जमा किया जाए। करीब 115 पैनलिस्टों ने सुप्रीम कोर्ट में दायर याचिका में स्पीक एशिया, आरबीआई और वित्त मंत्रालय को पार्टी बनाया है। सुप्रीम कोर्ट ने सभी पक्षों से अपना पक्ष 10 अक्टूबर तक रखने के लिए कहा है।
मई में स्थगित कर दिए थे भुगतान: आरबीआई ने 23 मई, 2011 को एक सकुर्लर जारी कर कंपनी के सभी बैंक लेन देन रोकने और सभी भुगतान स्थगित कर दिए थे जोकि पैनलिस्टों को सीधे सिंगापुर से हो रहे थे। स्पीक एशिया ने मई 2010 में भारत में कारोबार शुरू किया था। चंडीगढ़ और पंजाब में ही कंपनी के पैनलिस्टों की संख्या दो लाख से अधिक है। कई लोगों ने अपनी नौकरी छोड़ कर स्पीक एशिया का काम शुरू कर रखा था।
Aispa Updates-8th oct.
Good Evening Speakasians,
First and foremost I want to wish all the panelists a belated HAPPY DASSERA. We all know Dassera is celebrated as Vijayadashmi the day of VICTORY.
This is the day of victory of good over evil. Our Vijayadashmi will be the day SAOL restarts its business in India we the entire speakasia panelist family is waiting to celebrate the Speakasia Vijayadashmi with pomp and glory and hopefully the day is not far.
I was in Nagpur on the Dassera day to meet a senior counsel to seek his advice on the associations PIL and the future course of action to be adopted. We are presently preparing for the hearing on the 12th October before the divisional bench of Hon. Justice Mr. D. D. Sinha and Her Ladyship Mrs. V. K. Tahilramani. We are looking at the possibility of appointing some senior counsel to appear in our PIL along with the Associations counsel Mr. Ahmad Abdi.
The company in its latest update on the company BlogSpot has made it abundantly clear that the article doing the round about Mr. Dandona is absolutely false and malicious.
What amuses me about the article and the intelligence of the author is how without application of mind the author first destroys the credibility of Mr. Dandona, by informing us about an earlier CBI charge sheet pending against Mr. Dandona, and then expects us, to give credence to any statement made out by Mr. Dandona.
How does the author expect that this family of Speakasians who pride themselves in being called ”Empowered Consumers” take note or accord any seriousness to a statement made by a person of such low gravitas.
And now the company is on record to inform us that Mr. Dandona has not made out any such statement in the first place.
Once again this proves that the media in general, is out to spread a malicious campaign, against the company.
There was a blog posted on the aispa website by one Mr. Pranay Kumar Sahu attempting to accuse me of hiding some event on the 4th October, 2011 he went on to say that he knows what happened on the 4th and he knows that I know what happened on the 4th. I wrote under his blog that I feel he is duty bound to inform the panelists what happened on the 4th But till now while I write this Update, he has not written in or clarified what happened.
I wanted to get to the bottom of the matter I called this young man of 22 years who lives in Bhubaneswar Orissa to clarify what he knew happened on the 4th.
He was surprised at receiving my call and he told me that he had heard that the company had met the RBI on the 4th October, 2011 and the company could not convince the RBI. I asked him why he did not clarify this in his blog post. He confessed that he did not believe the news that he received from somewhere.
He also apologized to me that only because of his limited knowledge of the English language he did not bring out his question in the proper manner and it was not his intention to cast aspersions on me or on Aispa.
It is the endeavor of AISPA to provide an open and uncensored platform for the panelists to air their view openly and without fear on the website.
While on the subject of RBI let me make it absolutely clear that as the company is handling all matters related to RBI.
We as an Association are not privy to the nitty gritty of the matter fully. What we as an association know is that all the queries as asked by RBI are ready with the company along with the documentary evidence.
Whether the company has submitted these or they are going to submit the same is not confirmed information.
Aispa’s stand is very clear we are interested in every move of the company only to ensure the safeguard of the panelist’s interest. We do not expect the company to share every movement of theirs as we understand their need to keep their strategy under wraps and we respect this.
We all know that the company had organized a “TORCH BEARERS MEET” in February at Delhi which was attended by over 400 panelists. The company had entrusted these 400 TORCH BEARERS the duty to stand united together in the eventuality that there is an attack on the company. These 400 panelists were to be in the front who would fight for the company.
I am sure and confident that all these 400 privileged panelists are, without showing favour to team consideration, helping every panelist to continue with the support to the company. Remember all TORCH BEARERS this is the eventuality that the company entrusted all of you with.
I only urge and request all these 400 TORCH BEARERS to realize this and live upto the confidence that the company imposed on you.
Another thing that amazes me hugely is the support and admiration of this 20 lakh panelist family, to Mr. Tarak Bajpai. It is simply beyond compression how one leader can catch the imagination of such a large family.
Many Panelists have told me forget everything; just tell us what is the position of Tarakji.
“One man with courage makes a majority”…… Andrew Jackson
Have faith, have patience, trust your company
Proud to be speakasian
Jai Speakasia
Ashok Bahirwani
Secretary
AISPA
SpeakAsians approached Supreme Court
On 4th October around a group of 115 panelist have filed a petition before the apex court.After hearing the petition Supreme Court has issued notice to RBI,Finance Minister,SpeakAsia and Haren Ventures to reply in two weeks(as said by the advocate representing the investors).
Deccan Herald
What is Pyramid and Ponzi Scheme
Most MLM programs are official companies, nonetheless customers must be aware of MLM scams. A true MLM program will sell merchandise to the general public without requiring them to pay anything additional or any hidden costs. They won’t power consumers to affix the MLM system to be a distributor themselves. These kind of methods pay commissions to distributors based on actual product gross sales, not for recruiting. Nevertheless, there is a danger that any program that concentrates more on new members somewhat than product gross sales could possibly be a MLM scam.
An instance of a MLM scams is an illegal pyramid scheme. That is where a company guarantees huge income from investments into their program. The cash is actually created from drawing new individuals into the scheme relatively than precise retail gross sales of actual products. Many pyramid schemes fake to sell precise products, they actually don’t. A sign that a program is such a MLM rip-off is whenever you by no means see precise products. Merchandise constantly on backorder or orders that by no means arrive are additionally signs of a scam.
Another MLM rip-off is called a Ponzi scheme. This is very similar to a pyramid scheme, however the principle distinction is in a Ponzi scheme there is not an actual product to begin with. Additionally, no fee is paid to recruit new members. The operators make their cash off the sting by promising large, quick returns from an investment. The cash collected from new members is used to repay other members that have been in the program longer. They’re given a small return compared to the huge promises.
Aaron Mullings
updates 2nd Oct,11
Yesterday an article published in Mumbai mirror said that SpeakAsia didn't have any client and all surveys were fake.EOW has also arrested Nayan Khandor,owner of Brand Saloon Inc.,who was responsible for preparing the surveys for SA.
Today on the official blog of speakasia a letter from the company has been put forward in which clarifications regarding the news has been given.
Click Here To View The Newsletter
On august 11th speakasia on a non-disclosure agreement with EOW has shown there client list,and after verification it was confirmed that the clients list was genuine(click here to see the article).The recent arrest of Nayan khandor has caused discomfort among many,but the thing here is to be noticed is that he is just an associate of speakasia working on commission basis and is responsible only for developing the language of the surveys and search engine optimization of the company's website(SEO).He had nothing to do with the client list,he just made surveys out of the materials given to him.
Further readings and clarifications on the same read ashok bahirwani's updates.
Today on the official blog of speakasia a letter from the company has been put forward in which clarifications regarding the news has been given.
Click Here To View The Newsletter
On august 11th speakasia on a non-disclosure agreement with EOW has shown there client list,and after verification it was confirmed that the clients list was genuine(click here to see the article).The recent arrest of Nayan khandor has caused discomfort among many,but the thing here is to be noticed is that he is just an associate of speakasia working on commission basis and is responsible only for developing the language of the surveys and search engine optimization of the company's website(SEO).He had nothing to do with the client list,he just made surveys out of the materials given to him.
Further readings and clarifications on the same read ashok bahirwani's updates.