Mumbai (mlmnewsblog) – Mumbai city police arrested one more person connected with Speak Asia, the name of this person is Rahul Shah, vice president of Tulsient Information System Pvt Ltd, a Business Process Outsourcing (BPO) unit that looked after Speak Asia’s financial affairs. Now the total figure has reached to 6.
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Live The Dream Event
Google+ hangout of the year
Date: Wednesday, August 10, 2011Time: 4:00 PM PST / 5:00 PM MST / 6:00 PM CST / 7:00 PM EST
For more time zones, please see the Time Zone Converter.
That’s right! Mark your calendars for this
Wednesday, August 10th at 7 PM EST! -
BJP convener seeking FIR against Speak Asia at Indore
Madhya Pradesh (mlmnewsblog) – Manoj Singh, the Madhya Pradesh convener of BJP today submitted a memorandum to the Superintendent of Police of the Economic Offences Wing (EOW), which was later confirmed by Investment Cell Mukesh Singh Rajawat. In the memorandum, Manoj Singh is seeking an FIR to be registered against Speak Asia for the alleged scam. (more…)
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Is Network Marketing or MLM legal in India?
New Delhi(mlmnewsblog) Dear fellow networkers, is Speak Asia a fake company? Now it’s a million dollar question but the real question is, does network marketing or MLM legalized in India? The answer is not yet. What is going on in India? If an MNC company or an Indian MLM company is given ROC, open offices and given sales tax registration, bank formalities done and launches the MLM business. But when problems arises, then the police and the court say these companies are illegal and are running money chain scheme and at last cases are registered under prize & chit fund scheme Act. 1956., (more…)
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Red Corner Notice against Speak Asia Global Head, Haren Kaur
Mumbai (mlmnewsblog): The economic offences wing (EOW) during the initial investigation found that people have lost Rs 14,000 crore in SpeakAsia’s schemes from all over India. EOW is also collecting information on global Head, Haren Harinder Kaur to issue Red corner notice against her and more arrest will take place in coming days. (more…)
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Mumbai police arrested Speak Asia’s ‘Panelist’
Mumbai (mlmnewsblog) – Today Mmumbai police arrested Speak Asia’s ‘Panelist’. The name of the panelist is ‘Dipankar Sharma’ who was picked up from Raipur, brought to Mumbai and was arrested. He was also among the first persons to invest in the scheme of Speak Asia Online.
By now the total arrest figure have reached to five which includes Speak Asia’s Chief Operating Officer in India (COO) Tarak Bajpai, Financial Manager Ravi Khanna, the webportal’s technicians, Rajeev Malhotra, Rais Khan and Dipankar Sharma (panelist). (more…)
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Mumbai Police arrests Speak Asia COO Tarak Bajpai
The economic offences wing of Mumbai Police’s crime branch has arrested the chief operating officer (COO) of Speak Asia Online, Tarak Bajpai.
Bajpai was arrested and taken into custody by the crime branch officials in Indore around 2 am on Friday and was taken to Mumbai for further investigation. (more…)
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CID freezes Speak Asia’s bank accounts at HYDERABAD
HYDERABAD: Making it clear that Indian money will not be allowed to be sent to foreign shores during the pendency of the case, a division bench headed by Chief Justice Nisar Ahmad Kakru on Monday set aside a restraint order that had prevented the CID from freezing the money of Speak Asia Online company, a multinational money circulation firm. (more…)
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Beware of Mobile Phone Scams by SMS and Miss Calls
mlmnewsblog – Next time you get a miss call from some unknown international telephone number, do not end up calling back. people are loosing as much as Rs.100 a minute, some international scamsters have found a way to scam people all around the world through mobile phones. This time these scams are done by giving miss calls, sms etc.,
A word of precaution, this time do check this unknown number on Google before calling back on the same international number.
Here is the complete report –
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MCA orders investigation on Speak Asia
MCA orders investigation on Speak Asia.
New Delhi (mlmnewblog) – The Registrar of Companies (RoC) has been given go ahead by the ministry of corporate affairs (MCA) to investigate Speak Asia. The same was also confirmed by D.K. Mittal, secretary, MCA. He said that an investigation has been initiated but the top officials of Speak Asia denied that it had received any communication till date from MCA, ROC or any other government agency.
Earlier MCA could not probe Speak Asia due to its registration outside India, now the issue has been resolved and a fresh investigation is being launched on Speak Asia.
“Since Speak Asia is not registered in India, an inquiry under section 591 of the Companies Act, 1956, which deals with companies not registered in India, has been ordered and accordingly the RoC will investigate,” said the MCA officials.
The investigation will be done under RoC Delhi team where they will be assisted by the deputy RoC, Mumbai.
The aspects ROC will look into:-
- Why has it not registered with MCA so far.
- What are its investments.
- How is it conducting its business.
- Where is the money coming from.
- How is it paying to the members, etc.,
The report will be finished within three months and after that final report will be submitted to the ministry of corporate affairs (MCA), who there after will decide what action has to be taken.Our Take: There will be further delay in the payments to the panelists of Speak Asia as company will say that investigation is going on. There are two versions to the same story, one is given by Speak Asia and another by its members. We feel both should be called upon during the investigation to get the right picture. There is strong possibility that company might be able to get away with mild penalties but ultimately panelist will feel cheated in the process.