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.

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


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