CEO Manoj Kumar



CEO of speakasia adressing all its fellow speakasians,on 31st july,2011

SpeakAsia Update 29/7/11


Dear Speak Asians,

We face the biggest challenge of our times today.!!

Despite our best efforts to engage with and offer all possible cooperation with all the authorities concerned including the Reserve Bank of India, EOW of both Mumbai and Delhi and all concerned ministries we continue to be targeted as defaulters.

Our COO Tarak Bajpai along with number of vendors who support us in India have been taken into custody by the EoW Mumbai at Indore and other places across the country.They are all being flown to  Mumbai today morning to be charged with certain fictitious claims.
At this darkest hour of our company we appeal to all our fellow SpeakAsians to come together and unite in this hour of crisis.
However we know and realize that in this great country injustice and keeping quiet is now changing. As we saw unfold only yesterday the LokPal bill has become a reality; so may the best man win and this be a fight we are in together and will now a fight to the finish. We request all of you to please standby for further communication from us as to how to proceed further.
We are confident that we will succeed in our endeavours and build a great company that we will all be proud of so Speak Asians, let us show the world, that When the going gets tough the tough get going.

Team SpeakAsia.

SpeakAsia new ad


Facts about Permanent Establishment(PE) of Speak Asia in India


As every Speak Asian is aware that our Company is going to be registered in India as Company having 75% FDI (Foreign Direct Investment) and working for its Permanent Establishment (PE) in India, following are some legal facts because of which is taking some time for this process to get over:


Excerpts from Section 591 in The Companies Act, 1956 591. Application of sections 592 to 602 to foreign companies.
(1) 1[ ] Sections 592 to 602, both inclusive, shall apply to all foreign companies.
Part XI of the Companies Act, 1956 containing Section 591 to 608 deals with the Companies incorporated outside India i.e. a "Foreign Company.
It says that a Company incorporated outside India and having an established place of business in India in which 50% or more paid up share capital is held by Indians then provisions of those sections shall apply to such Companies also.
Though under the Companies Act, 1956, no formalities are required to be carried out for a Foreign Company establishing place of business in India except the filing of the documents provided for in Part XI; under the provisions of Section 29 of the Foreign Exchange Regulation Act, 1973 general or special permission of the Reserve Bank of India for continuing any place of business or establishing any place of business for carrying on activities of trade and Commercial nature by a foreign company is required.
General:
The limit of the foreign equity in an Indian Company is now increased up to 51% from the earlier 40%. In certain cases 100% foreign equity participation is also now allowed. The Government of India has entered into agreements with major foreign countries including USA for avoiding double taxation.

Note: Friend ! after going through the above facts we must understand that there are some legal facts which our company has to comply with and which takes time, there is no short cut for this. So we request everyone not to panic and keep the faith intact in our Company. Let’s extend a strong hand of support to the Company which is building a strong foundation so that each one of us can achieve FINANCIAL FREEDOM. 
PROUD TO BE SPEAK ASIAN !!!

General:
The limit of the foreign equity in an Indian Company is now increased up to 51% from the earlier 40%. In certain cases 100% foreign equity participation is also now allowed. The Government of India has entered into agreements with major foreign countries including USA for avoiding double taxation.

Note: Friend ! after going through the above facts we must understand that there are some legal facts which our company has to comply with and which takes time, there is no short cut for this. So we request everyone not to panic and keep the faith intact in our Company. Let’s extend a strong hand of support to the Company which is building a strong foundation so that each one of us can achieve FINANCIAL FREEDOM. 
PROUD TO BE SPEAK ASIAN !!!

Source:-  http://www.bizbasket.net/2011/07/facts-about-permanent-establishment.html

स्पीक एशिया, बाम्बे हाईकोट, मानहानि का मुकदमा



MONDAY, JULY 25, 2011


स्पीक एशिया ने आज बाम्बे हाईकोर्ट मैं मीडिया कंटेंट एंड सर्विसेज इंडिया प्रायवेट लिमिटेड के खिलाफ मानहानी का दावा प्रस्तुत किया। यह दावा सिविल प्रक्रिया संहिता 1908 के तहत प्रस्तुत किया गया। इस प्रकरण में स्पीक एशिया का नाम Speakasia online pte. ltd लिखा गया है एवं Lodging No.:-SL/2100/2011 है.
मीडिया कंटेंट एंड सर्विसेज इंडिया प्रायवेट लिमिटेड का एक परिचय
MCCS BACKGROUND
Media Content & Communications Services India Pvt. Ltd. (MCCS) was formed on 31st March, 2003 by the two biggest brands in Indian media industry. It is a 74:26 joint ventures between Ananda Bazaar Patrika TV – a 100% subsidiary of ABP Pvt. Ltd., and STAR News Broadcasting Ltd., a wholly owned subsidiary of the STAR Group. MCCS broadcasts “STAR News” India’s most reputed Hindi news channel , STAR Ananda, India's first 24 hours national Bengali news channel and STAR Majha, India’s 24 hours Marathi News channel. STAR News, living up to its motto of “Aapko Rakhe Aagey”, is a people’s channel that focuses on relevant news in a cutting-edge format. India's leading Hindi news channel, is best defined as channel with a fair and balanced approach that combines prompt reporting with insightful analysis of news and current affairs. Since its conception, the channel has grown to command a respectable viewership in its domain. In June 2005, MCCS launched, STAR Ananda, which immediately set a benchmark with its diverse, yet incisive news coverage. A pioneering and distinctive leader since launch, STAR Ananda continues to consolidate its numero uno position. Recently in June 2007, with the entry of STAR Majha, MCCS claims the leadership position in India's most industrialized state of Maharashtra.

Source:-  http://www.thebhaskar.com/2011/07/blog-post_4182.html

स्पीक एशिया: एस्क्रो अकाउंट से होंगे पेंडिंग पेमेंट्स








स्पीक एशिया मेनेजमेंट ने लगभग तय कर लिया है कि पेंडिंग पेमेंट्स का काम एस्क्रो अकाउंट से पूरा किया जाएगा, जबकि भारतीय बैंक में खाता खोलने की विधिवत प्रक्रिया भी शुरू की जाएगी।
सूत्र बताते हैं कि लंबित भुगतानों को बहुत ज्यादा समय तक रोके रखने से पैदा हो रहे विरोध को लेकर स्पीक एशिया प्रबंधन बहुत चिंतित है और वह बिल्कुल नहीं चाहता कि एसएमएस, फोनकॉल, ईमेल और दूसरे माध्यमों से सामने आ रहा यह विरोध किसी भी तरह से कानूनी रूप से सामने आए।


अत: सरकारी अनुमति के बाद लंबित भुगतान की प्रक्रिया पर काम शुरू हो गया है। प्रबंधन एस्क्रो अकाउंट के जरिए सभी लंबित भुगतान करने का मन बना रहा है। एक्सपर्टस का कहना है कि यदि एक बार एस्क्रो अकाउंट से पेमेंट का काम शुरू हुआ तो अधिकतम 2 सप्ताह के भीतर सभी भुगतान पूरे कर दिए जाएंगे। कहीं कोई बकाया नहीं रहेगा।


इसके अलावा मोबाइल और एलसीडी की डिलेवरी अगले शुक्रवार से शुरू हो जाएगी, इससे पहले जिन लोगों ने इसे क्वालिफाइड किया है उनके पास एक संदेशा भेजा जाएगा।


Source:- http://www.thebhaskar.com/2011/07/blog-post_874.html#more

SpeakAsia Ad - 25/07/11

SpeakAsia Ad on Economics Times-25/07/11

new POP-UP-25/07/11


Dear Speak Asians,
We are happy to share the progress and update the status of various activities being done by your company .
1. Establishing a Liaison Office in India ( Process and Current status )
a) Application given to Reserve Bank of India
An application has been filed with the Reserve Bank of India, Mumbai through the bank for requisite permission to open an Liaison office (click for copy). We understand that the applications are considered on case-to-case basis and the permission from Reserve Bank of India generally takes about 4-6 weeks time from the date of submission of application.
b) Registration with Registrar of Companies, New Delhi
Upon receipt of approval from Reserve bank of India, requisite documents have to be filed with Register of Companies for registration of Speak Asia under Companies Act. After scrutiny of documents, the Register of Companies will register the Foreign office and issue the certificate of registration. Thereafter, SpeakAsia can open a bank account and start operation in India. We are trying hard to expedite this activity and will keep you updated on its progress .
NOTE: The payouts from India can only start once bank account is opened and the approvals are given in writing by the authorities.
2. RBI's approval for business model : Further to the order dated 14th July received
from Hon . High Court to RBI for a meeting with Speakasia to understand the business model , we have written yet again to RBI asking for a suitable date vide letter dated 21st July (copy of letter attached). We hope that many issues will get
resolved after this meeting .
3. Distribution of rewards earned by you: The LCD / LED TV's are already lying at
the customs (copy of documents attached). These goods are held up in Customs in Mumbai due to our bank accounts being frozen . We are incurring huge demurrages on the same. The deliveries will start as soon as the goods are released from customs.
4. Interim orders received from Hon. Andhra Pradesh High Court: We have obtained court order for staying any activity by Crime Branch - CID against any of the officials or associates of SpeakAsia (copy of order attached link 1link 2). We are cooperating with the authorities and ensuring that the business model of SpeakAsia is understood by all.
5. Public Apology by leading national news channel for misrepresenting the facts was aired on 21st July,2011 ( link attached )
Friends , while we want to restart the business as fast as possible, we are constrained by the ongoing activities against us which only delays the entire process. In view of this giving a firm date can be a challenge but we assure you that we are getting closer by the day and working towards the earliest settlement of all issues which have been thrust upon us.
We thank you for your support thus far and hope that you will continue to have faith in your company and wait the business to start as usual. Kindly remember that any activity against your company by anyone (from within or outside) ,only will add to the delay. So be cautious and avoid any misrepresentation or activity that may delay the progress.
With best wishes
Team Speak Asia

Registration of overseas online firms to be made mandatory


Joe C Mathew / New Delhi July 24, 2011, 0:58 IST


New Companies Bill to make direct-to-home shopping sites accountabe to Registrar of Companies.


In a bid to make foreign companies engaged in online and direct-to-home business practices in India accountable, the Ministry of Corporate Affairs (MCA) will make enrolment of all such companies with the country’s Registrar of Companies (RoC) mandatory.
The need to have control over such organisations was felt in the wake of increasing instances of online businesses that cut across national boundaries.
The proposal for mandatory registration will form part of the new Companies Bill 2011, a senior official said.


The government may also verify that the promoters of the overseas firms or their business associates in India, including logistic partners, have not committed any economic offences under any national or international jurisdiction.


“The track record of the directors of the company will be sought to ensure they are not fly-by-night operators who had been convicted or banned from conducting business or establishing firms in other countries,” the official said.


Details of previous businesses of the promoters and their associates will also be sought before the company gets an approval to do business in India.


The Companies Bill 2009, a revised version of which is being finalised now, already contains the existing set of basic disclosures that are required to enable a company to operate in the country. These include details of the companies’ charter, statutes, memorandum, articles etc. Contact details of the senior management team will also be sought. Similar disclosures will have to be made about their business associates in India.


Recently, MCA had had initiated a probe into the activities of foreign companies that are registered abroad but have business operations in India.


The inquiry was triggered after complaints were registered against Singapore based SpeakAsia over its business practices. SpeakAsia, which charges an annual membership fee of Rs 11,000, pays back its members for conducting online surveys for its clients. The company had refused to disclose the names of the clients to whom it sells the survey results.


The controversy erupted in May after an investors’ protection group filed a public interest litigation before the Bombay High Court. The court issued summons to five top officials of SpeakAsia. The MCA probe was initiated in the backdrop of these allegations.


Source:  http://www.business-standard.com/india/news/registrationoverseas-online-firms-to-be-made-mandatory/443698/

SAOL's reported violation of Sec 591; Companies Act, 1956


Certain sections of Media have reported that SAOL has violated Sec 591 of The Companies Act, 1956. This is not the time for us to panic rather to understand the following facts about this section and implication of its violation by any company of foreign origin:




Companies Act 1956-Part XI, Companies incorporated outside India (Section 591-608 ) 591 Application of sections 592 to 602 to foreign companies.




Sections 592 to 602, both inclusive, shall apply to all foreign companies, that is to say, companies falling under the following two classes, namely:-




a). companies incorporated outside India which, after the commencement of this Act, establishes a place of business within India; and


b). companies incorporated outside India which have, before the commencement of this Act, established a place of business within India and continue to have an established place of business within India at the commencement of this Act.


To Read Section 592 to 597 and again from Section 599 to 602 please click here. These are various sections which are included in Sec 591.




Our major focus is on Section 598 and Section 599 which deals with penalty for violation.


598 Penalties.
If any foreign company fails to comply with any of the foregoing provisions of this Part, the company, and every officer or agent of the company who is in default, shall be punishable with fine which may extend to ten thousand rupees, and in the case of a continuing offence, with an additional fine which may extend to one thousand rupees for every day during which the default continues.




599 Company's failure to comply with Part not to affect Its liability under contracts, etc.
Any failure by a foreign company to comply with any of the foregoing provisions of this Part shall not affect the validity of any contract, dealing or transaction entered into by the company or its liability to be sued in respect thereof; but the company shall not be entitled to bring any suit, claim any set off, make any counter-claim or institute any legal proceeding in respect of any such contract, dealing or transaction, until it has complied with the provisions of this Part.




NOTE: After going through sec 598 and sec 599 it is understandable clearly that there is nothing to be worried about as far as the Permanent Establishment(PE) of SAOL is concerned for which the Company is putting an unprecedented fight. We are not sure whether the Company has violated this section or not, but even if any foreign Company violates this section, the penalty is only in terms of fine (sec 598) and other contract related (covered by sec 599). If we see the penalties in relation with the PE of Speak Asia, it seems that it is not going to be hampered. So let us not draw any conclusion and wait for the final nod from Govt. Of India.

PNP 1 WPL1365-14.7.sxw
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGNAL CIVIL JURISDICTION
WRIT PETITION (LODG.) NO.1365 OF 2011
Speak Asia Online Pte Limited and others ..Petitioners.
versus
Reserve Bank of India ..Respondent.
.....
Mr. Iqbal Chagla, Senior Advocate with Mr. Janak Dwarkadas, Senior
Advocate with Mr. Zal Andhyarujina, Ms. Jyoti Singh and Ms. Shruti
Sardesai i/b Phoenix Legal for the Petitioners.
Mr. Shyam Mehta with Mr. Mihir Mody and Ms. Ludnn Crasto i/b
M/s. K. Ashar & Co. for the Respondent.
......
CORAM : DR.D.Y.CHANDRACHUD &
ANOOP V. MOHTA, JJ.
14 July 2011.
P.C. :
1. In these proceedings the Petitioners question the legality of a
circular issued on 23 May 2011 by the Reserve Bank of India to the
chairpersons of scheduled commercial banks. The circular begins
with a factual background of certain circumstances which were
brought to the notice of the bank in relation to the activities of multi
level marketing companies, some of them based in Singapore which
were operating in India through agents who purported to conduct
online surveys. The circular sets out that the typical modus operandi
is to ask prospective customers to deposit an amount in a designated
PNP 2 WPL1365-14.7.sxw
account to gain access to a portal and password and download a
survey form. For every form filled in and uploaded a certain payment
is made and those who have filled in surveys have to multiply the
users to get back their deposits. The Reserve Bank has drawn focus
on the fact that the agents are opening accounts with various banks
and have collected large sums of money which proceeds are
aggregated into a central pooling account and remitted overseas as
subscription charges. On this basis, the Reserve Bank has formed an
opinion (a prima facie opinion as counsel for the Reserve Bank
submits) that such schemes are akin to money circulation schemes in
respect of which authorised dealers should not allow remittances to
the operators of such schemes. The bank has also taken the view
that money circulation schemes are banned under the Prize Chits and
Money Circulation Schemes (Banning) Act, 1978. On this basis the
following directions were issued to the scheduled banks :
In view of the above, we advise that banks “ should be more
careful in opening and operating accounts for such schemes
specifically the type of business and inherent risk associated
with such activity. Further, we advise that bank/s will be held
responsible for losses incurred by customers by way of deposits
in / remittances from such accounts if they are found to be in
violation of regulations, KYC/ AML and/or other regulatory /
statutory requirements. Banks are advised to be extra careful
and may also improve their existing KYC/ AML drill and
transaction sanctity to examine the business practices of
prospective customers so as to ensure that no unauthorized/
illegal activity is being carried out. Existing accounts may be
reviewed to ascertain and ensure that these are not related to
unauthorized / prohibited / illegal schemes. Further, adherence
to requirements under FEMA 1999, other applicable statutory/
regulatory requirements and KYC/AML compliance in the
strictest form needs to be ensured. Failure to adhere to the
regulatory restrictions will invite supervisory action.”
PNP 3 WPL1365-14.7.sxw
2. Counsel appearing on behalf of the Petitioners submitted that if
the bank were to furnish an opportunity of being heard to the
Petitioners, they would have been in a position to dispute the
correctness of the facts on the basis of which action has been taken
by issuing the circular in question. On the other hand, it has been
submitted on behalf of the Reserve Bank that the directions are
relatable to powers vested in the bank under Section 35 A of the
Banking Regulation Act, 1949 and Section 11(1) of the Foreign
Exchange Management Act 1999. Moreover, it has been submitted
that at present investigations are being conducted by the Directorate
of Enforcement, the Registrar of Companies and by the law enforcing
authorities in several states in respects of the activities of the
Petitioners. The Reserve Bank, it has been submitted, had formed a
prima facie view which is reflected in paragraph 2 of the impugned
circular and has by its directions ensured that pending the
completion of the investigation remittances do not proceed outside
the country.
3. Section 35A of the Banking Regulation Act 1949 empowers the
Reserve Bank to issue directions in the public interest, and in the
interest of banking policy to prevent the affairs of any banking
company being conducted in a manner detrimental to the interests of
the depositors; or in a manner prejudicial to the interests of the
banking company; or to secure the proper management of the
banking company. Under sub section (2) the Reserve Bank is
empowered on a representation made to it or on its motion to
modify or cancel any direction issued under sub section (1). Section
11 of the Foreign Exchange Management Act 1999 empowers the
PNP 4 WPL1365-14.7.sxw
Reserve Bank of India for the purpose of securing compliance with
the provisions of the Act and of any rules, regulations, notifications or
directions, to give to authorised persons any direction in regard to
the making of payment or the doing or desisting from doing any act
relating to foreign exchange or foreign security. Under Section
10(4), an authorized person is required in all his dealings in foreign
exchange to comply with such general or special directions or orders
as the Reserve Bank may issue from time to time.
4. These powers have been vested in the Reserve Bank as the
custodian of public interest in order to ensure that the operation of
the banking system does not result in detriment to interest of the
public and to secure proper regulation, in accordance with law. The
powers of the Reserve Bank have been cast in broad terms and
cannot be constricted. As expert body the Bank is entitled to issue
such directions as it has in the present case. The Bank is
legitimately entitled to protect the integrity of the financial set up
pending an investigation. Neither an investigation nor the directions
issued by the Reserve Bank to facilitate it should be obstructed or
curtailed. The Bank has in our view acted within its statutory power
to caution against remittances abroad in the case at hand.
The Reserve Bank may in certain situations be required to act with
urgency such as where it seeks to prevent a remittance flowing
abroad from out of the country. Obviously in such cases, there could
be no requirement of a predecisional
hearing since the grant of such
hearing may well defeat the object underlying the conferment of
power on the Reserve Bank of India.
PNP 5 WPL1365-14.7.sxw
5. The Court has been informed by counsel for the Reserve Bank
of India that the Bank has formed a prima facie opinion based on
the facts which have come to its notice. Moreover, counsel appearing
on behalf of Reserve Bank of India has stated that there was no
direction by the Reserve Bank to freeze the bank accounts of the
Petitioners and it would appear from the averments contained in
paragraph 7(xi) of the Petition that a debit freeze was placed by the
respective banks on account of the investigations which were
conducted by the service tax and income tax department.
6. Be that as it may, we are of the view that the interference of
this Court is not warranted. However, in the interests of fairness an
opportunity should be granted to the Petitioners to submit a
representation to the Reserve Bank. Sub section (2) of Section 35A of
the Banking Regulation Act, 1949 does in fact contemplate the making
of such a representation. From the record before the Court it would
appear that the Petitioners had sought an appointment by a letter
dated 17 May 2011 and pursuant to the request made to the bank a
communication was addressed to the Petitioners on 16 June 2011
seeking a disclosure of information. The Petitioners responded on 20
June 2011, but the matter appears to have rested there. We
accordingly dispose of this Petition by permitting the Petitioners to
place a representation on the record of the Chief General Manager of
the Reserve Bank of India who had issued the circular dated 23 May
2011. In the event that such a representation is made, we would
expect the Reserve Bank of India to take a decision in accordance
with law. The Reserve Bank of India may furnish an opportunity to
the Petitioners to explain the contents of the representation in a
PNP 6 WPL1365-14.7.sxw
meeting which may be convened for that purpose.
The Petition is accordingly disposed of.
(Dr. D.Y. Chandrachud, J.)
(Anoop V. Mohta J.)

स्पीक एशिया: सुप्रीम कोर्ट जाने की तैयारी में प्रबंधन

तमाम तरह की शिकायतों और याचिकाओं का सामना कर रहे स्पीक एशिया प्रबंधन का धैर्य अब टूटने लगा है। शायद अब वह चाहता है कि जो भी जल्द ही हो जाए और इसीलिए सुप्रीम कोर्ट का दरवाजा खटखटाने पर विचार कर रहा है।

स्पीक एशिया के खिलाफ चल रहीं तमाम जाचों के मामले में प्रबंधन लगातार अपने पेनलिस्टों को यह बताता रहा कि अगले कुछ हफ्तों में सबकुछ ठीक हो जाएगा, लेकिन सबकुछ ठीक होता दिखाई नहीं दे रहा। सरकार की जांच प्रक्रियाएं लगातार लम्बी होती चली जा रहीं हैं, जिसके कारण प्रबंधन द्वारा किए गए तमाम वादे भी पूरे नहीं हो पा रहे हैं और अब प्रबंधन कोई नई तारीख देने की स्थिति में भी नहीं है। 

अपनी पूंजी लगा चुके स्पीक एशिया के पेनलिस्टों लगातार दबाव बना रहे हैं कि कारोबार फिर से वैसा ही शुरू करो जैसा कि पहले था। हम प्रोडक्ट खरीदने के मूड में नहीं है। सर्वे कराओ और पैसा भेजो। जल्दी करो, हम इंतजार नहीं कर सकते। यह सबकुछ अपनी जगह वाजिव भी है क्योंकि कंपनी प्रबंधन को क्या बर्दाश्त करना पड़ रहा है इससे पनलिस्ट एक सीमा तक ही सुन सकता है, लेकिन अपनी इनकम को ब्लॉक करके साथ निभाने के लिए वह तैयार नहीं है। हालांकि उनके पास कोई आप्शन भी नहीं है, लेकिन गुस्सा बढ़ता जा रहा है और यह गुस्सा लोगोंं को उनके पैसे दिलवाए या न दिलवाए, हंगामा जरूर करवा सकता है। 

प्रबंधन इस बात को बहुत अच्छी तरह से जानता है और वह किसी भी कीमत पर अपने पेनलिस्टों की नाराजगी मोल लेने के मूड में नहीं है। सूत्र बताते हैं क प्रबंधन अंतिम फैसले के लिए सुप्रीम कोर्ट का दरवाजा खटखटाने की योजना पर विचार कर रहा है। अपने वकीलों एवं सलहाकारों से बात की जा रही है। वे चाहते हैं कि बहुत जल्द ही निर्णय हो जाए ताकि परेशानियां दूर हो सकें। 

प्रबंधन की सबसे बड़ी परेशानी यह भी है कि खाते सीज हो जाने के कारण उनका अपना वेतन भी अब नहीं निकल पा रहा है। खर्चा बढ़ गया है, इनकम बंद हो गई है और अपना पैसा भी अपने काम नहीं आ रहा है। देखते हैं आगे क्या होता है। 

  • खबर स्पीक एशिया से जुड़े सूत्रों के आधार पर

pop-up 17-07-11

An Important message for SpeakAsians
"Delay is the deadliest form of Denial"
Them
They never say an outright NO. It is always a MAYBE, or let us consider in DUE COURSE.
Yet, undeniably they have delayed and deferred our ability to continue business as usual.
They have delayed our payments to you, they have delayed our clearance of the products that are to come to you. They have put a spoke into our working by harassing our staff , distributors and panelists and have indulged in an unjust, unfair and malicious rumor campaign that has seriously dented our public image. They have effectively halted the operations of our company.
Who are they? They are a product of misguided thinking, unbridled envy, and a desire to destroy what they cannot build. They do what they do with a clear understanding that their victory lies in imposing impossible delays, so that the enthusiasm, the dedication and the morale of our team suffers. They are a set of people with deadly intent. They seek nothing less than the destruction and permanent stoppage of our business.
They are the opportunity deniers.
They are supported, cheered on and encouraged by certain vested interests like our competitors, some corrupt politicians and unscrupulous NGOs who have jumped into the fray to take advantage of our vulnerability.
Remember : The hunter is always the bravest when the hunted is at its weakest.
This concerted campaign has resulted in several Government agencies deciding to investigate and probe into the affairs of our Company as an honest arbitrator for settling the issue once and for all.
The delays through which they sought to deny earning opportunity to SpeakAsians
  • We are not in a position to make any payments into India as all payments sent by us to panelists and suppliers have not been credited to them. As a result payments to TVC, our importer for mobile phones used to meet our rewards obligations have been returned many times. Delay and denial.
  • Accounts of distributors are frozen and cannot be used for making any payments. Block and deny.
  • 28500 Television sets ordered by us as rewards and for sale to the panelists are lying at Mumbai port and we cannot make custom duty payment. Delay and denial.
  • We are under constant threat due to frivolous complaints lodged by certain interested parties in some locations. Harassment and Denial
  • Our Company has been brought to a situation where we are not able to move even one inch. Hobble and Denial

Delays that are becoming deadly denials for our business
  • We are not allowed to pay salaries and other expenses to officials and employees of our Company. Delay, deny and demoralize.
  • We do not even have freedom to move freely due to the constant threat of arrest on account of certain frivolous complaints. Harassment and Denial
  • Our application for starting Permanent Establishment (PE) in India has been submitted to the RBI through Bank. We are awaiting the fate of this application. With this being approved we will be in a position to offer an "Exit Option".

    The Exit option : Panelists will have a choice to get payment of reward points by TT from SpeakAsia Singapore account or migrate with their reward points to India centric website and continue business with terms applicable for Indian business . Waiting …

Us
We are sure that during their probe these agencies have realized that our Company is working strictly within the laws of the land in both letter and spirit and has been diligently complying with every law. However, in this highly charged environment and constant pressures of various quarters most of these agencies would have found it difficult to give a "clean chit" in writing. We were left with no option but to approach the judiciary and present the facts for a clear decision.

We have got some moral vindication (for instance) the High Court of Hyderabad restrained harassment or arrest of any official or employee of our Company against a complaint made by an NGO (Criminal Petition 5626/2011) . The High Court in Mumbai directed the Reserve Bank of India to give us a hearing to understand our business model "expeditiously" (Writ Petition (L) No. 1365/ 2011 - SAOL & Ors. vs. Reserve Bank of India). 

However our operations are still far from being normal and the delays continue. 
So, what are we doing amidst this siege like condition- how are we responding? 
In the "Them v/s Us" situation the following is what we are doing to right the wrongs, and re-establish as quickly as possible our commercial relationships with our team members, distributors, and panelists.
  • We have managed to deliver Cars and over 60000 products earned by you as rewards despite this difficult time.
  • Several new products are being added and will be made available on the website. You can then use your reward points and save on the purchase price of these products or earn commission by making a sale of these and cashing in your reward points.

    To ensure this we are taking various legal actions so that we get permission for making payments to you and pay to various suppliers and vendors for rewards and products for website. We expect results and relief from these actions in the coming weeks.
  • We are moving the highest Court of the land to put an end to the constant harassment of our distributors and panelists by several authorities and to open their bank accounts. 
We will not give up. In this fight what will help us is your continued belief in the rightness of our business, your dedication, a little patience and the ability to sift between facts and accusations, between reality and innuendo, between news and rumor.
  

We Shall Overcome. We shall emerge vindicated, We shall become victorious. 

Because no one can deny people an opportunity to earn an Honest Living.
We will deny the ultimate victory to the delayers

Payout Update about SAOL




1. Website will be fully functional by 20 July.
2. Products will be uploaded at regular interval of time.
3. Payouts will get started by last week of july.
4. Might be Those who joined lately will be given preference first for payouts.
5. Lavish office established in goregaon,mumbai.
6. Clerance from Govt soon and PE under process.
7. Tie Up has been done with Mobile service provider (India based)and Insurance Company(Canada base).
8. Massive Advertisement campagin will be start from 20 july.
9. Business Restart meeting to be held on 17 july.10.Bank account to be opened by 25 july.11.By 1st week of August ,the scenario of speakasia will be same as it was in April 2011..

All speakasian eagerly waiting for the payouts and hopefully very soon we all start our business with glory...

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