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  • ROC Report on Speak Asia

    New Delhi (mlmnewsblog) – Registrar of Companies (ROC), under Ministry of Corporate Affairs submitted its report on Speak Asia Online. In the report ROC found that Speak Asian Online Pte. Ltd. a Singapore based company Violated Section 591 in The Companies Act, 1956 according to the act, companies who are incorporated outside India and Still doing business in India, must get permission and registration from ROC before doing business in India.

    After this report, ROC will call top company officials for an Inquiry and will start investigation from the beginning and will submit final Report within 90 days. On the other hand, Reserve Bank Of India (RBI) has given permission to Speak Asia to transfer pending money to all the investors and a circular has also been issued to the banks to help in facilitation. RBI also said that during the mean time Speak Asia cannot operate and do business in India, unless they pay off all the investors. if Speak Asia agree to do that, then only Speak Asia can apply for the fresh registration.

    Now the big question is, will Speak Asia pay the money they owe to the investors or will they wait for 90 days to see the final report by ROC.

    Our Take: Speak Asia had earlier said that they want to transfer the money into panelist bank account but due to RBI intervention they could not to that. Now the permission has been granted by RBI to Speak Asia to start the transfer, then this time there should not be any excuse from company’s top officials. If things does not improve then there could be something ” Dal mein kuch kala hai”

  • Further delay in the transfer of commissions: Speak Asia

    Due to legal tangles, Speak Asia is going to delay the transfer of pending commission. The pending commission amount is said be around Rs.1900 crores till date. Many Speak Asia panelist were saying that bank transfer of commission will start from 27 July, but we have received information from a source that there will be more delay in the transfer of panelists commission. Soon Speak Asia will give a new date for the transfer of commission. (more…)

  • Seminar on understanding pyramid schemes on 23 July 2011

    Seminar on understanding pyramid schemes on 23 July 2011

    Seminar details:Every year, tens of thousands of “Double-your-money” schemes which offer instant riches are eating into the savings of people. These schemes (also called Ponzi or pyramid marketing schemes) are banned in many countries. But in India, they fly below the radar because of ineffective legislation and burn a big hole into the savings of Indians (more…)

  • RBI all set to form new rules and regulation on MLM companies

    If sources are to be believed, soon there will be an MLM law in India. The Ministry of Corporate Affairs (MCA) and Reserve Bank of India (RBI) are working closely to frame rules for all MLM companies in India. As per sources there will be strict norms for MLM companies and all MLM companies who are operating in India will have to get their firm register with the government. (more…)

  • First FIR against Speak Asia in India at Raipur

    Raipur: Chhattisgarh police has registered FIR against Speak Asia. This will be first FIR against Speak Asia Online in India. Already few investigations are being probed under Central Government agencies and departments. From past few months, the panelist of speak Asia Online from all over Chhattisgarh approached police to initiate action against Speak Asia due for non payments, but due to lack of evidence police could not proceed on the matter. (more…)

  • Speak Asia launched online shopping portal for panelist

    At last Speak Asia, Singapore based company Speak Asia Online launched an online shopping portal for their panelist. After a long time, many Speak Asians have been desperately waiting  for some good news, now through shopping portal, panelist can buy electronic goods at a discounted price. The site will be up at 6: 30 Pm on July10, 2011. Before launching of shopping portal, The COO Tarak Bajpai, conveyed to panelist at Mumbai that they are here to stay. He also emphasized that there could be little delay in the transfer of money, because company is still going through formalities to open bank accounts in India. After the launching, company management will be out in the field to teach and share about the new system. (more…)

  • Indian Cyber Crime Toll-free Number to Report Online Frauds

    Indian Cyber Crime Toll-free Number to Report Online Frauds

    Due to the extraordinary growth of internet users, online cyber frauds have also increased likewise. Now you can report such matters at Helpline Number – 155260 09:00 AM To 06:00 PM,  this is the Indian cyber crime toll-free number to report online frauds. Cyber frauds are mostly done through emails, where they offer you millions of dollars and all that could be yours if you simply deposit a small amount at some international bank account as a processing fee to release such a big amount. Online watchdogs say that mostly these frauds are run by Nigerians and the frequency have increased with every passing moment.

    (more…)

    Due to the extraordinary growth of internet users, online cyber frauds have also increased likewise. Now you can report such matters at Helpline Number – 155260 09:00 AM To 06:00 PM,  this is the Indian cyber crime toll-free number to report online frauds. Cyber frauds are mostly done through emails, where they offer you millions of dollars and all that could be yours if you simply deposit a small amount at some international bank account as a processing fee to release such a big amount. Online watchdogs say that mostly these frauds are run by Nigerians and the frequency have increased with every passing moment.

    (more…)

  • Pyramid Schemes vs Multi-level Marketing Business

    Most confuse Multi-Level Marketing with ponzi pyramid schemes, frankly speaking both are very identical, at times it becomes difficult to separate one from another. Many ponzi schemes are running disguising as an MLM. As you know the famous and great structure of pyramid, it is narrow at the top and becomes wider at the bottom, same is in MLM and in a ponzi scheme, the commission distribution is highest at the top & decreases at the bottom. People at the top make big money and it decreases as we go down and same is with a ponzi scheme. I know we are not hear to discuss about how money is distributed in both but to know the real difference between them. (more…)

  • Prime Minister’s Office asks for investigation and action against Speak Asia.

    At last Prime Minister has accepted the request to investigate Speak Asia Online. Prime Minister Office has forwarded the complains to ministry of Corporate Affiairs (MCA), Reserve Bank of India (RBI),Securities and Exchange Board of India (SEBI), the home secretary & the finance secretary. It has also been requested from PMO to put the investigation at speedy track to keep the interest of 20 lakhs investors safe. (more…)

  • Build 25 Unique Backlinks to Your Pages Every Single Day, FREE!

    This article is for people who are running their own blog or website.

    If you have a blog, then you need to take creating backlinks using Social Monkee seriously.

    This is an important part of SEO if you want to increase your blog’s search engine rankings and drive massive traffic. (more…)