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.
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