SpeakAsia Official Updates-04-04-12

Dear SpeakAsians

Since the last update, there are several issues we would like to address and clarify with our valued panelists. It is important that you understand our position and the actions we are taking.

Media Reports

The Times of India reported recently that we have sister companies that have been investigated for fraud.  There is no truth in this and we categorically deny that SpeakAsia has anything to do with either of these companies.  The companies mentioned are Red Carpet and Index AdMatrix. As for Seven Rings International, they were the publisher of the E-Zine magazine which was distributed by HVP.  SpeakAsia has no interest, commercial or otherwise, in any of their operations.  The reports in the Times of India are false and seem to be motivated by certain vested interests.  We have, on more than one occasion, offered to clarify our positions regarding the various issues with the Times of India, but unfortunately, our offer was not accepted.

Exit Policy

As you are aware, we have submitted a list of all those members who have opted to exit to the learned mediator.  The Mediator, accordingly had instructed the EOW and Mumbai Police (which still had in possession our company’s data and server) to return the database of our members to the Mediator for the disbursement process to commence.  However, the EOW and Mumbai Police have filed an affidavit in the Supreme Court refusing to submit the data to the Mediator.  We have also filed an appeal against this action.  Once this issue is resolved, we will resume the process of implementing the exit policy

Resumption of Business

The company has also initiated various steps for the resumption of our business.  Dialogue with various departments and authorities is underway with regard to PE formation, statutory clearances etc.  We would like to assure all our SpeakAsian Family members that we wish to quickly resume business once all the legal requirements are fulfilled.

Contact with the company and officials

As you know, we welcome your feedback.  Because of the overwhelming amount of emails we received on our present email address, our responses to you have been far from ideal.  To remedy the situation, we have created exclusively for India more email addresses according to the regions.  They are:-

a.       India.north@speakasiamarketing.com

b.      India.east@speakasiamarketing.com

c.       India.south@speakasiamarketing.com

d.      India.west@speakasiamarketing.com

Please do note that when you are communicating with the company, kindly mention your full name, address, current contact number, your login id and the name of your immediate upline. This will help us in verifying your credentials.  Please also note that if these details are not given in your email, no reply will be sent to you.

Warm Regards,

SpeakAsia Corporate Marketing Team

AISPA's secretary Ashok Bahirwani's bail hearing today

Yesterday AISPA's secretary Ashok Bahirwani was issued with a 72 hours arrest notice by EOW. Anticipatory bail hearing of the same is to be held today at 2:30 p.m at Mumbai.

Hats Off Prod. wins the case over SpeakAsia

Few weeks ago Speakasia has filed a case against Hats Off production's R. K. Laxman ki Duniya as they telecast an episode in which they used the word Silent Asia, which eventually prove to be the fraudulent organization in the story.
Hats Off productions has won the case against the company leaving all the charges on them as null and void.According to the verdict among the two only the word Asia is common, and this word can be used by anyone as its an universal term,and hence case was dismissed.

Updates 2nd march-Speakasia official communicaiton

Dear SpeakAsian’s,

Our Family of Speakasians stood rock steady by us through one of the most troubled time in the corporate history of any company. We were attacked maliciously by certain sections of the media, hounded by the authorities, and attempts were made to crush our total entity. However we continuously maintained our commitment to our cause and the protection of the interest of our family.

In these troubled times we gave an ‘Exit Option’ to all those who wanted to leave our fold. A total of 94,334 panelists decided to exercise this option (this is less than 7% of our entire universe of Speak Asians.)  We respect their wishes and would gladly welcome them back with open arms whenever they decide to re-join our family. Any other members of the Speak Asians family who still want to exercise the exit option can do so till 31st March 2012.

On the orders of the Honorable Supreme Court of India a mediator was appointed to ascertain the dues of all those who wanted to exit the company, and the process to settle the their legitimate dues is well underway. As a manifest of our intent and to demonstrate our never ending commitment to our family of Speakasian’s we have voluntarily deposited a sum of US $ 10 Million, with the Registrar General – Supreme Court. We have further committed to deposit any more amounts due, post the ascertainment of the honorable mediator and proactively facilitate the disbursement process.

We stand committed to all our panellists, our employees, trade partners, and the nation at large. Our endeavor to create a whole new marketplace through our patented ‘Precision Marketing Tool’ stands. We cannot thank you enough for all your support. The end of our woes is near, and soon the new sun heralding brightness of our future will dawn.

Warm Regards,

SpeakAsia Corporate Marketing Team 

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)