Speak Asia Updates

Speak Asia Officials on the run; Panellists Feel the Heat for repayments

All the MLM company’s officials—except one who is in jail—are absconding. First, Speak Asia cancelled a scheduled meeting with the RBI, then it withdrew a petition in the Supreme Court. Now panellists are feeling the heat over repayments from their down-lines Speak Asia Online Pte Ltd, the Singapore-based multi-level marketing (MLM) company, is in a withdrawal mode with most of its officials absconding, and police now considering issuing red-corner notices to track those associated with the company. Some agents (panellists), especially those who had enrolled several people in their down-line, are now facing the heat over repayments and they could file complaints against Speak Asia and the up-lines. More about this later.

On Tuesday, the matter came up for hearing before the Bombay High Court, and many panellists expressed their wish to become party to the case. The High Court asked the petitioners to consider which side they would want to become party to and that they should first approach the Economic Offences Wing (EOW), Mumbai. The next hearing is scheduled in two weeks.

There has been much boast by some persons on the Internet claiming that enforcement agencies and the judiciary would give the company a 'clean chit' and criticising the media for its negative stance. Unfortunately, the reality is different. Speak Asia's chief operating officer (COO) Tarak Bajpai has been reluctant to come out of jail in Thane, even after being granted bail, as he fears arrest by police from other states.

During this period, Speak Asia requested the Reserve Bank of India (RBI), to postpone its meeting, citing non-availability of its officials. This after the company got an order from the Bombay High Court to help it get the appointment with the central bank. Yet, the company decided to request the RBI to postpone the appointment from 24th August, to a later date.

In another instance, some panellists made a noise about how Speak Asia would go to the Supreme Court and get an order in its favour and how everything would be sorted out. Unfortunately, this too has turned out to be a hoax. While the company did file a writ petition (criminal) in the Court, its counsel, senior advocate Ranjit Kumar requested the permission of the Court to withdraw the petition.

The subject category of Speak Asia's writ petition is mentioned in the "Criminal matters - matters relating to bank scams, cheating, forgery etc" category on the Supreme Court website. After hearing the company counsel, a bench of justice Markandey Katju and justice Chandramauli Kr. Prasad allowed the petition to be withdrawn.

The status of the case (number 176/2011) is clearly listed as disposed on the SC site, but some panellists have been talking as if this is only some more negative reporting by the media about the company.

There are several comments posted by agents of Speak Asia asking for help or relief to deal with pressure from their down-line for repayments. One such comment reads: "Three of the members in my team have joined on 17th April by borrowing one lakh thirteen thousand (Rs1.13 lakh) each in (on) interest from the market. And now they are neither in a position to give the interest nor can stay at home. I have tried to educate them about exit options and all the latest updates of SAOL management (chairperson & CEO). All of them will wait up to 11th September, otherwise they will lodge an FIR against me as well as against the company and indirectly threatened me that they will get their money back from me by any means."

Another panellist wrote: "Do you think weak management consisting Haren Kaur, who is seating in Singapore, and Manoj Kumar, who is hiding in Dubai, would be able to do anything good till 10th September? Thinking positive is good thing, but it should not be blindfold following. While the Supreme Court has disposed Speak Asia's petition, BizBasket found something positive in it too. They are saying that the Supreme Court has not passed any comment against Speak Asia. Tomorrow, these people will say the government is against us, not the country! However, the hard to digest truth is that the company's CEO is absconding and the courts may declare some prize for his arrest. It would be better if the company forgets its dream to get registered in India, at least for now".

"Speak Asia ab sab ko fool bana rahi hai, koi payment nahi anne wali...I am sure about this...sab ka paissa dub gyaaa.....ab to God ko pray karo my friends .....Rs70,000 ka chuna laga hai mujhe ...," said one of the panellist on a Facebook page.

As common with all multi-level marketing (MLM) companies, here too many panellists enrolled their family members and close friends, without realising the side-effects. One such panellist has said, "Mere ko 12 lakh ka chuna laga hai maine to apne sare rishtedaronko join karwaya hai aur bahut se dost bhi hai. Par ab voh dost nahi rahe, kyon ki ab voh ye puchhate hai ki payment kab aayegi aur izzat bhi nahi karte. Ab to izzat bhi kharab ho gai hai. Aur kahi rishtdari mai bhi muh nahi dikha sakte yaar. Jawab dena bahut mushkil ho gaya hai. Sara din phone aate rehete hai ki paymant kab aayegi."

While, several panellists are feeling that it is the RBI that has stopped their payment, they fail to understand that the central bank does not have any jurisdiction in Singapore from where the account freezing process started. Banks in India have not frozen any account of Speak Asia, as the company does not have an account in the country under its own name.

Indian banks have frozen several accounts of distributors after the investigations by the income-tax and sales tax departments. Unfortunately, many agents are still under the impression that the RBI has frozen Speak Asia's bank accounts and that they would get their money as soon as it is released. It is estimated that the company owes over Rs2,000 crore as payment for surveys and police have found about Rs150 crore in distributors' bank accounts. How the company will be able to pay such a huge amount is a question that's worth not more than a few hundred rupees!

source :http://www.moneylife.in/article/speak-asia-officials-on-the-run-panellists-feel-the-heat-from-repayment-pressure/19553.html#comment-19410

Wait till 7th September, Stop Listening Media

Guys It is important to understand the truth No media has shown any charge against the company and no investigation team has proved any allegation against speakasia then why are you guys not waiting for the final report of ROC till 7th september till then stop listening media

BizBasket Says : According to the latest news from one of the media sources, court has directed the investigation authorities to file a reply by 7th September.
7th September isn’t far now, lets hope we see some clear sky

Speak Asia’s Write Petition Dismissed

Speak Asia’s writ petition was dismissed by the High Court of Andhra Pradesh here today.
The Singapore-based Speak Asia duped its clients swallowing crores of rupees promising huge payments under multi-level marketing. Clients were enrolled for Rs 11000 for online opinion on surveys that were helpful to the common man. In the process the company made Rs 2500 crore, a part of which Rs 500 crore was invested in Singapore. Finding the company’s doubtful role, the economic offences wing froze Rs 130 crore. The company promised to pay Rs 2.08 lakhs yearly to its members.
In Andhra Pradesh thousands of victims were fell a prey to the Speakasia’s conspiracy to make a fast buck. The company’s activities came to light first in Vijayawada, which alerted other states.
Recently, the Mumbai police had arrested four accused including Speak Asia’s Chief Operating Officer in India (COO) Tarak Bajpai in connection with the multi-level marketing scam.
At least 20 clients of the company have submitted their complaints to the special wing of the state police. After verification a case would be registered against the company.
The company in the name of survey had earned the confidence of 19 lakh people across the country and cheated around 80,000 clients only in Indore.
Under the aegis of BJP investment cell, 20 of the affected clients lodged their complaint with the EOW. Manoj Kumar Singh, SP of EOW Indore said that cases would be lodged against the accused.

Heren and Manoj Kumar at Dhaka, Bangladesh set with Bangladeshi Leader expecting to launch SAOL officially

The biggest question on everybody’s mind has been ‘Where is Speak Asia’s Indian CEO Manoj Kumar and SAOL's Global CEO Harendar Kaur?’Yes eBizToppers found them at Dhaka, Bangladesh. eBizToppers team came to know that last week they set with Bangladeshi leaders at one local 4 Star Hotel in Dhaka although EoW of India, Mumbai Police are searching them for arrest. It is known that Both Harendar Kaur and Manoj Kumar was at Dubai for Business Purpose after the arrest of TARAK Bajpai, they came here at Dhaka and waiting for the release of Tarak Bajpai, COO of SpeakAsia.
It is found that SAOL management (Bangladesh) waiting to launching of SAOL here in Bangladesh, they have already set with Global CEO and Indian CEO, but they have decided to do it little bit later, they are hoping it after Eid. Beside this they are hoping COO Tarak Bajpai will get bail from Court. Soon.

Zee Business News: Live TV show on Speak Asia Today @ 8pm According to latest news from Zee Business TV Channel, Speak Asia is now  going to register in India soon. Speak Asia will ask an approval from RBI, FIPB  & RoC. According to reliable news Speak Asia will open its first Official Office in  Goregaon Mumbai in August Speak Asia online Survey company will register in  India by Rs.95 Crore equity capital soon and is ready for any type of  investigation from any government body. Live telecast program will telecast soon on Zee Business TV today on 8 PM so  don’t forget to see it live in Zee Business. There are also news that Speak Asia  will soon have press conference in India Very Peasant atmosphere at Qila Court... Gathering of almost 800 Panelists in and outside the court... all the Top most leaders of PUNJAB and MAHARASHTRA are present there... Heavily raining but even it can't be an obstacle for them to be there... to witness the TARAK JI's release... He has been given the Bail..


  1. hurry the news of releasing of mr. tarak bajpai ceo speakasia zindabad hum apka support karte hai.please money transiction issued at an early date for speakasians.

  2. speakasia zinda bad zinda bad

  3. go up and make a victory on bledy chep system . we all r with u . styamev jayte we r proud to be a speakasian ......................