Investigation Being Stopped And Supreme Courts Order to IT/CBDT To File an Affidavit,

                                                           

Some Clearification Point Please listen it:

1. Govt never imposed any ban on speak asia, but speak asia operations in India ceased as the banking channel got disrupted because of investigation by different goverment agencies and harassment of speak asia employees by EOW. Now the investigation being stopped and supreme courts order to IT/CBDT to file an affidavit, the path of business resumption is clear. There is no need for speak asia to change its business model as it is very unique and profitable and it will continue to add different services viz mobile telephony,travel services,consumer products etc at cheaper price which was promised by speak asia in Phase 2 operations. The revenue generated by speak asia in Phase 1 only was enough for speak asia to pay survey income for 2 years without any additional sourcing or new joinings.

2. The information regarding permanent establishment in India was given way back in March 2011 and with the path of business restart being cleared now, soon the 5 regional offices as promised by speak asia will come up. Employees of speak asia are co-ordinating different process for PE establishment in India.

3. We are not talking about policies of USA and Amway din’t face any litigation there. We are talking about the indian scenario where `Amway was booked in Andhra Pradesh under Prize Chits and Money Circulation Schemes (Banning) Act 1978 – the law governing Ponzi schemes and was banned in 2006. RBI issued the similar circular for amway as it has circulated for speak asia.Why do you think a product based company like Amway was booked under money circulation act? Don’t get surprised as we all know govt agencies in India are not accustomed to such naive concepts and without any regulatory body present, these companies are at their mercy. Now amway has resumed its business in Andhra Pradesh after a long legal battle. Speak Asia business model based on precision marketing is very much naive like Amway but we had covered a long way which amway covered in 3 years in an year only.

4. Its only your misconception raised out of lack of information. Ezine has proved to be very informative for panelists and the training with that has helped speak asia to become a huge company with more than 12 lakhs trained panelists. The main objective of Ezine was to develop a base of well informed prosumers which company was able to do very effectively.Not everybody like me and you can go to google for information/training otherwise printing of books/magazines would have been stopped long before. There is no question of allowing the company to run in India as there is no ban on speak asia from any govt agencies (ref: 1 )

5. Company has taken various steps from day one for the benefit of the panelists and hept speak asian family well informed about all this. In may 2011 speak asia did a press conference to explain their business model, in june 2011 wrote to ministries and RBI for presentation, in july given presentation to RBI, in Aug announced exit option, in Sep won the writ filed against RBI to change the circular which has taken speak asia name, in November filed an affidavit in supreme court of its intention to pay its panelists opting for exit option and for business restart, in Jan 2012 given an affidavit to lahoti committee appointed by supreme court as mediator an affidavit to clear all dues of panelists and govt agencies, in feb 2012 deposited 50 crores with supreme court registry as surety with an affidavit to bring in more funds if required to pay dues, in Mar requested for website to ascertain dues and start payment process. So company is not only saying but doing its 100% to push for resumption of business as early as possible. Now we had won on all fronts and are just waiting for the supreme court hearing of 30 april. This delay is caused by the govt agencies not helping properly with the mediation process.

There is no point in taking exit option and abandon speak asia family now seeing that how much company is fighting for the existence of us speakasians. On the contrary we should stop giving baseless statements and stand by the company who is fighting for us.

Thanks & Regards

Admin