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.”