Sucheta Dalal again targets MLM companies.

After her statement about SpeakAsia last September Sucheta Dalal again targets MLM companies and this time it's 'Real Planet Multigrade'. Take a look at what she says:

Real Planet Multitrade - new MLM scheme. Where is the regulator? 

Despite several MLMs like Speak Asia duping numerous ‘investors’ for crores of rupees, there are no efforts by the government either to ban such ‘get-rich-quick’ schemes or to regulate it.


 Even as the investigating agencies are probing multi-crore ponzi schemes and scams across India, many others continue to flourish, luring people with huge returns and other incentives. 
Real Planet Multitrade is a relatively new entrant in the endless list of these MLM schemes. This has left several activists doubting the role of government in regulating such schemes.
This multi level marketing (MLM) company, registered in Mumbai, promises income on buying selling certain products. Once their products are bought, it entitles one to become a distributor and further, eligible for easy income on selling these products. It, in its vision statement claims to, “To produce millions of millionaires.”
Real Planet, has basket of products – mobile chips, anti-radiation bio energy card, solar pendant and diamond pendant that are sold for Rs500 to Rs2,000. It has several package deals combing various products and sold for Rs3,000 to Rs5,000. The company also has list of health care related products such as slimming capsules, piles capsules, aloe vera capsules and rheumatic massage oil.
Real Planet has business model similar to a typical MLM company. It promises income after the initial buyer introduces or propels new members to buy these products. The level of income increases as the number of people under the initial buyer increases.
The company has two main business plans, Samprak Planet Business Plan and Re-Purchase Business Plan. In the first plan it promises Rs250, on getting two people (1:1) enrolled in the company. This binary income is unlimited. It also promises diamond star royalty and gold star royalty income, which is given on completing 300 pairs ratio. In its re-purchase plan, the company promises 5-15% on direct income. Here, if a distributor has 3 direct pairs on both sides – left hand right hand - and if the left is earning Rs1 lakh weekly, then the distributor is entitled for 10% of their weekly earning, Rs10,000 in this case.
Interestingly on all the earning plans, it has certain caps and trimming applicable. Experts point out that the originality of these products is questionable. Considering the income that the company promises, the business is bound to collapse in long run. It could be typical case, where an MLM or ponzi schemes does pay in the start and then abscond after collecting the money.
Industry experts say that there is urgent need to regulate these schemes and companies, which are technically illegal under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

-Sucheta Dalal

Write Up of Manoj Kumar's Speech (on 27th Dec)


Good evening Speakasians,
Morya….(meaning come soon)
I have not spoken to you for quite some time. You must have also realized that we are not being giving out any official statements.
I am speaking to you from your company's Singapore office.
Do you know why we are not answering or giving out statements. Only because many of our matters are pending before the courts.... to give statements when the matter is sub judice, is nothing short of interferences in the legal process...
But over the last 2-3 days the reports that I have read in Mumbai mirror, Times of India and on the blog behind mlm.... these reports were the height of false allegations against the company. That is why it was necessary and most important for me to talk to u and put forth before u the truth. I wish to answer each of the allegations against the company, against me and against all of us.
The first allegation in this article is that all the panelists associated with the company are criminals, they are the accused because they are part of speakasia. According to them, this is as per law.
I want to ask what was the initial stand of the police and the various govt. authorities they wanted to protect whom? They wanted to protect you, now it’s you who are being labeled as the accused.... why?
Because the authorities’ are not interested to see that your money reaches u safely or that u continue with your business.
They have only one interest and that is to shut down the company at whatever cost.
They want to trouble you so much that you refuse to work.
Why they are doing this? I tried to ponder on a lot. Let us see in times to come, we will all know why they are doing this and who are the people behind this.
Let’s first address the issues raises in these articles.
First they said that 100 of crores of rupees have been sent to Singapore bank and from there the money has been further sent to Latin America and Brazil thru me.
I wish to inform them that I do not hold any personal account or none of the companies where I am a part, have any banking accounts what so ever in Singapore. So to bring any money into Singapore or further send it anywhere is not possible and the question does not arise.
Second thing they have said that the senior Speakasia officials own properties worth over 100 crores in and around Mumbai but they are shying away from giving any details for such properties. Why may I ask them are they being so secretive?
If they know of the property please share the info with us. Just by airing false allegation does not help anybody.
I live in a MHADA flat which I purchased by taking loan from the HDFC. The loan has since being repaid.
Now they talk of a Mercedes car which is supposed to belong to me, i wish to inform that there is no Mercedes car registered under my name.
As the PE was to happen the company purchased a Mercedes car for transporting the visiting dignitaries, consultants and vendors. I never used this Mercedes.
Everybody knows that I own a 2002 model Baleno which I self drive, I do not have a driver. But then THEY like to issue statement like “Mercedes Benz seized”.
They talk of another company by the name of Colibri of Brazil, and yet another company by the name of Admatrix which was supposedly operating in India. They say that I have invested in Colibri, if they have worked so hard, why can’t they go to the ROC of brazil which can be done on the net also and they can easily find out that who are the promoters of the company. I am surely not the promoter.
They are local people from Brazil; I have no investment in the said company, not even a single naya paisa.
Yes, the promoter of Colibri did come to us to get the software created because my company Tulsiyant where I am the director has been creating Software for Direct Marketing Companies for the last 15 years for various direct marketing companies around the world.
Everybody knows this that the best networking companies in india have got their software developed by us. Companies from Singapore, Malaysia, UK, Switzerland, Italy, USA companies from all over the world have got their software created by us.
So it is not surprising therefore that Mr. Colibri also approached us for developing their Software. Unless they start saying that all these companies for whom we have developed the software are owned by us.
Important to note is that when this company approached us we were already working with speakasia. So there was a conflict of interest and that is why we could not work on this.
After hearing their requirement we realized that as the speakasia model was hugely successful and without understanding the way Speakasia worked they wanted us to create a “ me too” model for them which we refused as it was conflict of interest”. This is all that is about our relation with Mr. Colibri.
There was one more thing written in this article that I am an investor in Colibri and according to them this was mentioned on the site of Mr. Colibri along with my photograph. I have myself checked the site nothing of this sort appears or as ever appeared on this site. I have come to realize that a certain blog had carried this article along with my photograph.
I am investigating who has created this and who has written that blog.
let me to explain to you that this direct marketing industry is a very small industry, everybody knows everybody in this industry. The people running Mr. Colibri know me like all 100-150 such companies. I know the directors/promoters of all such companies only because I have been in this business for the last 15 years.
One more thing that is mentioned in this article is that our people simply vanished and run away, there cannot be more stupid accusation than this.
On 11th May, 2011 one particular news channel reported a false news after this some more news channels picked and ran this story.
From that day till 29th July all of us together have been fighting to prove that all this is wrong. We have approached all Govt. agencies including the EOW that please give us an opportunity to explain our business model. We even approached the RBI. They did not listen to us.
We could have all run away, you could have left us, our employees could have left, the managers could have left, I could have left but nothing of this sort happened and we preferred to stand up and fight for your and our rights and we want to win and start working again.
Do you know that while I was in Dubai for some business work at that time all these arrests took place, my wife and my son had joined me for some days? I sent my family back to India few days after these arrests. Why? Did I want to run away? It is another matter that the EOW detained my family for the entire night and subjected them to harassment.
I wish to remind all of you that when the TBM meet was conducted, did you all see that film which we had made for this TBM meet (Torch Bearer Meet).
Many people at that time told us that some people on seeing the huge success of speakasia could try and take over the company, a small film was made for this.
I will try and upload that film after this statement so you could once again see the film. This film is a couple of months old and explains our business in detail and it also shows that why there could be an attack on us and probably that is why we are attacked. That film answers all of us why these people are troubling all of us.
But that film also tells us that when we will win, when we stand united and win the victory will surely be ours.
When the victory will be ours we will once again stand united shoulder to shoulder and take speakasia to its destined heights
There was a movie “Main Azad Hoon” shown before the meet. I remember the few lines of a song which was played repeatedly during the meet and the lines are “kitne baazu, kitne sar, gin le dushman dhyan se, haarega wo har baazi, jab khelein hum jee jaan se, aao.. aa jao, jag pe chaa jao, khelo tum jee jaan se”.
Morya…..!!!


SpeakAsia CEO - Manoj Kumar's Video - 27th dec,11

After a long time any official from speakasia came forward and communicate with the panelist. Below is a video by Manoj Kumar, CEO of SpeakAsia which was released on 27th December,11 . In this video he clarifies all the blames which was put on SpeakAsia and the Company Officials. In this video he talks about :-

  • Why there is no official communications
  • Company Officials Possessing property worth 100 cr.
  • About investments of Manoj Kumar



Legal Proceedings- 26th Dec.,11


From the past couple of weeks it is not clear what are all the progressions in the investigation by EOW. The last news we heard was AISPA's president Melvin Castro being taken into custody and were suspected to be SpeakAsia officials.
In no way things are getting easier for speakasia as well as the panelists. People are becoming restless day by day and what what adds to their discomfort is that there is no proper updates regarding this issue.
Today in Times Of India an article was published titled "Fraud firm spent 100cr on realty, cars". This title itself surprised me. No final decision has been made by the court, then how can they give SpeakAsia the title of "Fraud". Well that's another side of the story. Now coming to the legal side, the next hearing to speakasia cases are dated on 5th and 16th december.The details are furnished below.
5th Jan-Bombay (Criminal) Case Number - WP/3210/2011-M/S. SPEAK ASIA ONLINE PTE LIMITED V/S THE STATE OF MAHARASHTRA AND ANR
16th Jan-Bombay (Criminal) Case Number - WP/3611/2011 -ALL INDIA SPEAK ASIA PANELIST ASSOCIATION AND ORS V/S THE STATE OF MAHARASHTRA AND ANR


The legal proceeding in our country are very slow so we have to wait and remain united.
Lets hope for the best.







Speak Asia Mediation Process Started


The much awaited mediation meeting under the chairmanship of honorable retd. chief justice started today at the mediation center in New Delhi.
As per the news which we got from the officials of the SAOL, Mr. R. C. Lahoti had listened all points carefully and issued further notices to all concerned departments. Advocate Mr. Rajiv from panelists side, Adovocate Mr. Abdi from the Company side and advocates from RBI only were present there. No other department officials were present there. All the advocates of SAOL are satisfied from todays proceedings and outcome of todays meeting. All other departments got notices from Mr. Lahoti.
The meeting is not yet concluded and will be continued for some more sessions in couple of days. As and when we'll get the update of the meeting we'll keep you all posted.

BIZBASKET

Profile of Justice Lahoti

Hon’ble Mr. Justice R.C. Lahoti 
Former Chief Justice of India
Lahoti’s Profile : 
Full Name : Ramesh Chandra Lahoti

DATE OF APPOINTMENT : 09/12/1998
DATE OF APPOINTMENT AS C.J.I. : 01/06/2004
HELD OFFICE TILL : 31/10/2005
Educational Qualification : B.Com., LL.B
Date of Birth :  01-11-1940





Order of Supreme Court

Here is the official write up of the order given by supreme court(14th Nov)
http://courtnic.nic.in/supremecourt/temp/3832011314112011p.txt

Supreme Court Verdict - 14th Nov,11



The hearing of today's session is over and as of the news received till now Justice R.S.Lohati has been appointed as mediator between SpeakAsia and government.
The next hearing is on 21st November and Justice Lohati will look into the matter further.


More updates to follow soon.

Supreme Court Of India Display Board

http://courtsdisplayboard.nic.in/

To know the current status of the cases today and the item number going in different rooms of court click the above link.
It is expected that the hearing will be something around 2 p.m.

SpeakAsia Legal Updates

Following are the three cases on which the fate of speakasia depends:
1)November 14 - Supreme Court Hearing
2)November 16 - Criminal PIL(Mumbai High Court)
3)November 16 - AISPA PIL

Here is the case status of Writ Petition by Solomon Jemes


Wait n Watch scenario for Speak Asia panelist


Suddenly, after getting aware about the re-functioning of the online survey website, Speak Asia Online the woes of more than 1.7 million panelists seems coming to an end.
However, company didn't make any such announcement over official website.
This matter was never being discussed earlier but now, it has become the hot topic around the coffee table.
Last year, the online survey company entered the Indian market and opened the innovative front to earn money online and turn out to be successful company and with in no time it has attracted around 1.7 million people as its hardcore followers.
No sooner it became the name in the household, it got eclipsed as the company's bank accounts were seized and the website site became dysfunctional.
This malicious propaganda has developed doubt in the mind of the masses which resulted to be a negative impact across the country, where scams have become uncontrolled and are of no use to a common man.
Whereas, this survey company moved with a single objective to offer returns to its panelists.
As per the Speak Asia officials, company's board of members have explained the business model of the company, which has been comparing to that of Ebay, where investor gains the benefit. This was presented before honourable Justices Dalveer Bhandari, Justice Deepak Varma & Justice Gopal Subramanium.
While, as per the latest updates company also informs that they are willing to pay their panelist as they have sufficient funds to pay back, for which Supreme court has appointed retd Supreme court judge to supervise the committee for all payment proceedings.
While, The next hearing for writ petition (civil) case no 383/2011 is expected on 14th Nov 2011.
Presently, when we are clouded with corruption and Speakasia is the company which is running around the court for the benefit of its panelists.
Company has full faith in the functioning of Supreme Court. Now we are standing at such a position, where one needs to wait and watch the verdict going for or against the company.
Let's wait for the updates.

An article published in Hindustan Times-Depicting the real scenario

Here is an article published in Hindustan Times few days back which says about the RBI-RTI matter:-

Official communication of SpeakAsia -10 nov.


COO Tarak Bajapi granted Bail

Today all the officials of speakasia were granted bail and no further arrest is to be done.Some print media said that COO Tarak Bajpai was on a run,but with the grant of bail to all the officials made it clear whether the news was correct or wrong.
Grant of bail and working of the company's website shows that the case is going in favor of speakasia.But all stakes are on 14th November when the judgement of Supreme court is to come.

SpeakAsia news On Zee business -8th nov,11


Today on zee business it was scrolled that speakasia will start its normal operations in days to come and is going to start its surveys soon.According to the news the panelists also received SMSes on thier mobile phones regarding the operation of the website but i haven't heard anyone getting the SMS.
Some major mover-round is expected to be seen after the verdict on 14th nov(PIL of 115 Panelist).There are two main agendas of this hearing(1)Regarding the payment holds of the existing panelists (2) About the business restart.

Things slowly turning positive - Website Released by EOW

Today is a great day for lakhs of people throughout the nation.Today EOW(Economics offence wing) released Speak Asia's website,which was under control of them for about four months.This can be considered as a positive sign and has brought relief to many.
EOW is done with there investigations and the verdict is on 14th of Nov.It is also expected that payments will start again form the month of December but all these depends on Monday's verdict.
On 29th July Tarak Bajpai was arrested and on 21 August EOW took charge of the servers on which speakasia's site was being hosted.A rage of anger and discomfort aroused among many panelists and they went and files FIR in many states against the company.EOW investigation took a long time and finally they are done with it,now next MONDAY is the most awaited one.


AISPA updates


HELLO Speakasians,
I have been irregular in posting my updates as I have been very busy with my normal business.
But trust me my heart and soul is with all of you and I have been more then eager to post my update. The only thing that kept me away was my timings, in the last fifteen days or so I have been working till almost 11.00pm in the night.
A few interesting things have happened since my last update as follows:
1. Our dear friend Shri Mateen Hafeez has proved the old saying correct “hum nahi sudherenge”. Judge sahib once again reported in his trade mark mischievous and uninformed way on 2nd November, 2011. In his report he has proven that he indeed has no knowledge of the law, and sadly he is assigned the beat of Speakasia.

Speakasia's Legal Notice to TimesOfIndia







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 :

  •  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.
Following are the new trends in the direct selling business :  

  • 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. 
 Proud to be Speak Asian ! 


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

AISPA updates 12th Oct.


CEO Mr Manoj Kumar at Abu Dhabi


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
A local court in Mumbai has extended the custody of Speak Asia’s financial consultant, Sanjeev Dandona and the web designer, Nayan Khandor, who was responsible for designing e-surveys, till 12th October.
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. 

SpeakAsia - A brief from its Origin.......



  •  February/March 2010 Speakasia online Pte. Ltd. (SAOL) a company registered in Singapore starts its operation in India.Basically Speak Asia registration in Singapore With Number of 200618809D.
  • Speak Asia Online Line (SAOL) starts their operation as a Paid Surveys Provider company, in its first or its launch phase, and its tag line was “We Value your Opinion”. As When People Joined and Answers the Surveys they get Paid .
  •  Because of the unique idea combined with aggressive field support from the company, SAOL grew at a phenomenon speed and in short time of less than a year SAOL panel size grew to a whopping 20 lakh panelists.
  •  The huge size of the SAOL family along with a pan India presence spread over every demographic possible made it the biggest provider of survey panels on the international panel exchanges.
  • All the panelists have always been paid promptly and regularly by the company till the 12th May, 2011, But on 11th May A news Channel Named "Star News" show a news Star News Exposes Speak Asia and and Some of the Politicians such as Kirit Somaya as Letter by Dr. Kirit Somaiya Against Speak Asia on 18 May 2011 .On 16th We ( SAOL ) arrange speak asia press conference where all our Speak Asia Management Including Mr. Manoj Kumar CEO , Tarak Bajpai ( COO ) , Narayanan Rajagopalan , Mr. Vivek Gautam ( Chief Marketing Officer ) , Sanjeev Mehta ( Country Head Sales ) and Sanjeev Dwived. In This Press Conference Mr . Narayanan Rajagopalan Speak Asia Explained About Paid Surveys and try to Understand the Speak Asia Business Model But after that the bank accounts were closed by the company bankers.
  • M/s United Overseas Bank, Singapore, on 27th May, 2011 probably due to the cautionary circular sent out by the RBI vied circular No. DBS.CO.PPD No.16237/11.01.005/2010-11 dated 23rd May, 2011.
  • SAOL has been approaching the RBI and various other appropriate agencies to seek permission for establishing their permanent establishment and for restarting the operations and restarting the payments to their panelists (us).
  • An Individual not connected to SAOL filed a criminal PIL in the Mumbai high court against the Government of Maharashtra, seeking directions to the police to set up a suitable mechanism to avoid any sort of internet fraud to safeguard gullible small time investors.
  • The Hon. High Court presided by her ladyship Justice Ranjana Desai was pleased to instruct the EOW to file their affidavit on the mechanism in place to safeguard the investors. She had made some observations which were prime facie observations not in any way pointing to the SAOL.
  • The EOW erred in their interpretation of the Hon. Ladyship and started investigating SAOL with a vengeance. The investigation arises out of a FIR filed by one Mr. Khosla, who has been a panelist of the company and has been regularly getting paid by the company till the bank accounts were closed in May, 2011.
  • Some FIRs have been filed by few aggrieved panelists all over the country. It is not the case of any complainant that they have not received payments before the bank account was unfortunately closed down.
  • SAOL is on record and are committed to restart the payments as soon as the banking channels are restored.
  • This sudden stoppage of operations and stoppage of payments of SAOL has adversely affected us the 20 lakh Indians who are the panelists of the company.
  • All the 20 lakh Panelists had joined the business module to enhance their earnings and see a positive change in their living standards and until May 2011 have experienced the fruits of this association many of whom have experienced a total positive change in their life style.
  • It has been almost three months since the monies have freezed up and still all the panelists (barring a few who have complained) are patiently waiting and support the company’s endeavor to get out of the problems and restart the operations.
  • The present Association is formed, based and arising, out of support E mails received from all over the country.
  • Speak Asia Association has filed a Speak Asia PIL before the Hon. High Court at Mumbai. Which is now posted for 7th September, 2011, When the Government of Maharashtra is to file its reply.
  • Some of the panelists have independently moved the Supreme court and are in the process of filing a PIL before the Hon. Supreme Court asking for ad interim relief and prayed that the monies which are seized by the authorities in India be brought under the custody of the Supreme court and under its supervision be distributed among the panelists.
  • Important to note here that between Genx Bazaar GOA 9 - 11 May 2011organized one of the biggest consumer gathering under the name and style of Gen X held in Baga, Goa.
  • Gen X saw various reputed brands like, Provouge, Reebok, Gitanjali jewellery, American Tourister,Samsonite, IFB Electronics, Flying Machine, TVC skyshop, and Skoda Automobiles to name a few,display their wares for the Speakasians to purchase. A whopping over Rs. 4 to 5 crores were transacted in one day of shopping making it a record single day shopping record.
  • The end of Gen X was to usher in the company’s ambitious second phase and the tag line now is “Consumer empowerment”
  • The company has grown from being a survey based company and is now into as they call the 5th ‘P’ of marketing i.e. PRECISION MASS MARKETING.
  • This second phase was to unleash a revolutionary phase where the company was planning to use this humongous size of its panelists and use their purchasing power to provide the panelists with international quality of products at prizes which were half of what these products are presently available at.
  • We the Panelists feel that because of the unprecedented success of the company and its unveiling of its revolutionary new product based platform, has sent jitters in the trade in general and caught the envy of the company’s competitors.
  • This unknown enemy of the company is presently orchestrating and unleashing a vicious and malicious negative campaign against the company.
  • The Architect of the campaign against the company has unknowingly harmed the interest of 20 lakh Indians and has affected Lakhs of marginal players whose kitchen fires were being run on the earnings they received from SAOL.
  • The stoppage of the legitimate operations of SAOL has in fact violated the basic fundamental right of each individual “The right to livelihood”

Who is Sucheta Dalal


Sucheta Dalal is presently the Managing Editor of Moneylife Magazine, which is a personal finance fortnightly. Earlier, she was a columnist for the Indian Express and Consulting Editor for The Financial Express. She has previously written for the Business Standard and The Economic Times, and in the 1990s was Financial Editor of The Times of India. She is a Founder Trustee of Moneylife Foundation, a not-for-profit which is spearheading the effort to spread financial literacy in India.
Since 2000, Dalal was a serving member of the 'Investor Protection and Education Fund' for six years, this fund was established by the Government of India's Department of Company Affairs. She was a member of the 'Narayana Murthy Committee on Corporate Governance' think tank instituted by the Securities & Exchange Board of India (SEBI) and was also on SEBI's Primary Market Advisory Committee. She is on Bank of Baroda's services committee and a Trustee of the Consumer Education & Research Centre, Ahmedabad.
In 1992, Dalal was awarded the Femina Woman of Substance award. The same year, the Media Foundation awarded her the Chameli Devi Award for excellence in journalism.
In 2006, Dalal was awarded the Government of India's prestigious Padma Shri in recognition of her journalistic contributions.
Dalal is the co-author of The Scam: Who Won, who Lost, who Got Away, which investigates the role of several figures in the April 1992 crash of the Indian Stock Exchange. The book was written together with her (now) husband, Debasis Basu, who is also a journalist by profession but a Chartered Accountant by training. As of 2007, The Scam is in its seventh print run and fourth extended edition.
Her more recent book, A. D. Shroff: Titan of Finance and Free Enterprise is a biography of Ardeshir Darabshaw Shroff commissioned by the 'Forum of Free Enterprise which Shroff had co-founded in 1956. The book "draws upon the personal papers of A.D. Shroff, the Tata Central Archives, the papers and libraries of the Bank of India, HDFC, and several other institutions with which [Shroff] was associated."
Dalal has a bachelor's degree in statistics from Karnatak University and a bachelor's degree and a Masters degree in law from the University of Mumbai .
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In how days you think speakasia will resume it's normal functioning?

will speakasia be able to regain its early image?

Do you think that StarNews is doing all this to promote there own survey group?