SpeakAsia Updates-29th Feb,12

Recently there were many articles published in various newspapers,different newspapers are putting up different views of the speakasia issue.Here are some of the articles published in some of the leading newspapers:

TIMES OF INDIA - FEB,27

MUMBAI: Police are probing the role of an international firm in the SpeakAsia scam.


They said a link had been established between Seven Rings International, a UAE-based firm, and the multi-level marketing company being investigated for fraud.

Sources said that the economic offences wing (EOW) found evidence to prove the nexus. "SpeakAsia office-bearers have been denying links with Seven Rings International, but we have got documentary evidence," said a police officer.A source said Seven Rings entered into an agreement with SpeakAsia Pte and Haren Ventures Pvt Ltd. "Seven Rings offered to act as a publisher for SpeakAsia surveys but on the condition that they get 60% profit while SpeakAsia got 40%. Seven Rings said it had a wider reach and the agreement would be beneficial to SpeakAsia. They promised to publish an electronic magazine (e-zine) too," said the source.EOW arrested 10 persons allegedly associated with SpeakAsia last year following complaints from investors that they had been cheated. The investors had said that they had been sold web subscriptions for Rs11,000 each, and in return for filling survey forms for multinational firms, had been promised annual payments of Rs52,000. But the money, they said, had not been paid.The police are hunting for SpeakAsia's Indian head, Manojkumar Sharma and its global chief Haren Kaur."SpeakAsia entered into the agreement in February 2011 to avoid tax agencies. "While Elia De Prisco signed papers on behalf of Seven Rings, Sharma signed them for SpeakAsia," said the source. Prisco is said to be an Italian who organizes business lectures and seminars across the world.The police suspect that Sharma is behind the Brazilian firm Mister Colibri (mistercolibri.com and colibrimakemoney.com), which op-erates on the same model as SpeakAsia and lists Sharma as its largest investor.The police suspect that over Rs700 crore was laundered from India with help from Seven Rings.Investigators said AdMatrix, another company, was involved in SpeakAsia's operations.Colibri promises investors large annual returns for watching advertisements on a video-sharing web site and EOW found that it was using the same backend codes as AdMatrix.

HINDUSTAN,28TH FEB

(SpeakAsia had deposited a sum  of 50 crores to the supreme court and the court has put that amount in FB for 91 days,and in addition to that speakasia has been asked to deposit sum of 115 crores as tax,which company has accepted to pay.The draft which the company had paid was made from State Bank Of India's branch in Singapore with the draft No:037003)

SpeakAsia panellists accuse EOW of harassment, move court

A group of over 15 lakh panellists of Singapore-headquartered SpeakAsia Online company has moved the Bombay High Court, claiming that officials of the Economic Offence Wing (EOW) of the city police are harassing them with repeated attempts to extort money.

The panellists have in their writ filed in court claimed being threatened of being booked in a criminal case if they didn’t cough up the money demanded by the police. While over 150 panellists have so far been called in for questioning by the city police, a senior EOW official denied the charge saying it was aimed at derailing the ongoing probe, sources said.

Represented by Melwyn Crasto and Ashok Bahirwani, president and secretary respectively of the All-India SpeakAsia Panellists Association (AISPA), the association with a 15-lakh members, including over 3.5 lakh in Mumbai alone, has charged the police of using the company’s seized records to target members of the general public, who constitute the panellists.

Biz Basket Updates:13th feb

As you all know that we have almost won the case in supreme court of India and the company is moving very fast towards the normalization of its operations. At this critical point of time all the entities (particularly "TRP hungry media") with vested interests want to confuse the panelists of Speak Asia by spreading false rumors.

Through this platform we want to make you all aware about the steps taken by our panelist association AISPA for the welfare of entire panelist community of India. For detail please go through the recent article dated 11/02/2012 on www.aispa.co.in by the secretary Mr. Ashok Bahirwani. This association is a legal entity and more than capable to safeguard the interests of the entire Speak Asia family.

SpeakAsia: Aaj Tak Telecast

Yesterday (8th Feb) at 11:30 p.m AajTak showed a short report on speakasia regarding court decision.

SpeakAsia Official Updates-8th Feb,12

After two months of complete ignorance the management of speakasia has finally bothered to intimate its panelists with the latest updates.Here is the update released by speakasia team:

SpeakAsia Updates 8th Feb,12

On the petition filed by 115 panelists, Supreme Court on Tuesday directed the appointed mediator of the case to deposit a sum of 50 crores to Apex Court Secretary General in A bench of Justices Dalveer Bhandari and Dipak Verma gave time of 2 weeks to submit the above mentioned amount and it will be used for the repayment of subscription fee given by the panelists.

Further hearing of the cases are as follows:

16th Feb,12- Bombay High Court hearing of the case filed by AISPA (WP/3611/2011).

17th Feb,12-Bombay High Court hearing of the case filed by SpeakAsia against Multi Screen Media Pvt. Ltd (for R.K.Laxman ki Duniya).