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SC: NO Settlement, Speak Asia Case is Criminal in Nature

Written by Ak Sharma

Another setback for panelists of Speak Asia. There are two big news. Fist, Mumbai High court dismissed petition of  All India Speakasia Panelist Association, where they wanted EOW Mumbai to withdraw FIR filed by Navin Khasola.

Mumbai High court under directives from Supreme Court said that they will not interfere in the matter as it criminal in nature and have asked further, EOW to continue with case findings .

Another news came from Supreme Court that it has recalled its order permitting mediation for clearing up the case by refunding the money to the investors. Solomon James, one of the investors had earlier moved to the SC seeking directions for distributing of frozen funds of Rs 141 crore in various bank accounts in India.

SC has now made it clear that the case does not justify settlement through mediation, the case is “criminal in nature ” and will not interfere with the probing of EOW Mumbai.

EOW mumbai said that Speak Asia only deposited Rs.50 crores, and they were refunding this money only to few handful investors who  filled petition in SC. Whereas investors lost Rs 2,276 crore.

Lately panelists of Speak Asia are raising questions on the intentions of Speak Asia company that if they really want to pay investors then who is stopping them, ” Why don’t they deposit money directly into our accounts”.

There has not been any update from company end after this news. Now people are finding it hard and some of the leaders from Speak Asia are planning to file FIR in their respective zones.

Anil Kumar

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