Serious investigations are going on against Speak Asia across the country, but the company chooses to portray itself as a victim, in an attempt to gain sympathy and more time from its agents who eagerly await their dues totalling over Rs1,900 crore
Speak Asia Online Pte Ltd (SAOL), which claimed to be 'Asia's largest online survey group' and has now changed its tagline from 'Asia's leading integrated market services agency' to 'Asia's largest community of sovereign consumers', is continuing to provide misleading answers on its website even today. In the meantime, Speak Asia has been allowed a meeting with the Reserve Bank of India (RBI) to explain its position by the Bombay High Court.
In an order dated 14th July, a bench of judges Dr DY Chandrachud and Anoop V Mohta, said, "We are of the view that the interference of this court is not warranted. However, in the interest of fairness, an opportunity should be granted to the petitioners (Speak Asia) to submit a representation to the Reserve Bank." The High Court, however, made it clear that even after the Speak Asia representation is made, it expects the RBI to take a decision in accordance with the law.
Disposing the petition filed by Speak Asia, the High Court said, "The bank (RBI) is legitimately entitled to protect the integrity of the financial set up, pending an investigation. Neither an investigation nor the directions issued by the Reserve Bank to facilitate it should be obstructed or curtailed. The bank has in our view acted within its statutory power to caution against remittances abroad in the case at hand."
According to the High Court order, Speak Asia sent a letter to the RBI requesting an appointment on 17th May to which the central bank replied on 16th June seeking a disclosure of information. Speak Asia responded on 20th June, but the matter appears to have rested there, the order said.
Now let's see how Speak Asia has played the High Court verdict to its favour. In an pop-up message to its agents (we are providing an image of the page below as there is no assurance that it will remain on the company's site after publishing this article), Speak Asia has claimed that it has received some 'moral vindication' from the High Court order.
It said, "We have got some moral vindication (for instance) the High Court of Hyderabad restrained harassment or arrest of any official or employee of our company against a complaint made by an NGO (criminal petition 5626/2011). The High Court in Mumbai directed the Reserve Bank of India to give us a hearing to understand our business model 'expeditiously' (writ petition (L) no. 1365/2011 - SAOL & Others vs Reserve Bank of India)."
The pop-up message tries to create a divide between 'them' and 'us', where 'us' is the multi-level marketing (MLM) company and 'them' is everyone else not associated with it. The message reads: "They are a product of misguided thinking, unbridled envy, and a desire to destroy what they cannot build. They are a set of people with deadly intent. They are the opportunity deniers. They are supported, cheered on and encouraged by certain vested interests like our competitors, some corrupt politicians and unscrupulous NGOs who have jumped into the fray to take advantage of our vulnerability."
Now, let us take a look at the company's method to misguide (aka golmaal) its panellists and other gullible people. On the frequently asked questions (FAQs) page (see the image below), Speak Asia says, "RBI, SEBI, Ministry of Corporate Affairs and PMO gave clearance to SpeakAsiaOnline?" For a common reader and Speak Asia panellist, it appears as if the company has already received clearances from these regulators and authorities. However, the reality is completely different.
In answer to this apparent question, the company says, "It has come to the notice of the company through its media sources that because of the negative campaign initiated by some organisations, that RBI, SEBI, the Ministry of Corporate Affairs and PMO initiated inquiry against the working of the company. However, till date SAOL has not been contacted by any of the government departments."
Although, Speak Asia forgot to mention the Income-Tax, Enforcement Directorate and Service Tax inquiries, the High Court order does mention these agencies. The order said, "It has been submitted that at present investigations are being conducted by the Directorate of Enforcement, the Registrar of Companies and by the law enforcing authorities in several states in respect of the activities of the petitioners (Speak Asia)."
Speak Asia has been insisting that the freeze on bank accounts of its distributors and agents (since the company neither has, nor operates any bank account under its name) was placed by the RBI. However, the central bank clarified, and the High Court accepted, that the debit freeze was placed by the respective banks on account of the investigations being conducted by the service tax and income-tax departments.
Last week, the division bench of Justice Ranjana Desai and Justice RV More remarked that the police should create a system to prevent the repetition of frauds like CU Marketing and City Limouzine. Hearing a public interest litigation (PIL) filed by Andheri resident Rajmani Shukla against Speak Asia, the High Court noted that “Having perused the petition, we feel that another scam is in the offing."
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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Owner: James @ Mugu (Actual Name: Mugunthan Gnanam / Gangam) a malaysian resident now absconded, Govt. not taking any action.
Also one company called Way2Life (WealthLine), Chennai based has looted Rs. 5,000 - 10,000 Crores, and vanished,
Owner: Chithara Kumar, tamilian now believe to be residing in Canada along with his family.
I'm having just a small list of companies around 276 MLM companies which are operating in India which all has MCA, ROC registration, even ISO also, all have cheated & ran away and still companies keep on coming & keep on closing. what hell this govt. is doing i can't understand? which country we are living in? I don't think in no other country this kind of scam would have happened except india..!
Compare to all other scams even Speakasia's, other companies scams are too big; i will ask moneylife to turn your attention towards other companies also, speakasia is having consumer power which i have not seen in any other company in my life, let us see how govt. handles this company panelists. This number is too big, govt. has to do something for them. Rest of the companies in the market collects money in the name of investment & also watching advertisements & doing surveys for which you are paid they tells.. huh, until what time they'll run the show! one day they are closing & running away na, why govt. is not taking any step remains a big question??
One of Kerala’s leading News Paper quoting from some investors in Kerala reports that the investors were confused as the Singapore based Online Networking Marketing Company has broke down. The report says that the investors are confused as to how to take legal action against the online survey company as they have got only a user name and a password. The investors were not provided with any written documents by the online survey company.
The report further says that Speak Asia cheated the customers by making them believe that they were conducting surveys for big companies. An investor had to pay Rs. 11000/= for membership. If the membership is taken they were given two objective type questionnaires in each weak. If the investor could answer at least five answers correctly then the company would give them 10 dollars. The company made them believe that within a year their investment would be doubled 4 times by the minimum. They would also be given 1000 rupees each for enrolling other investors.
CEO of BIKMARK ARRESTED
http://www.bikmaark.com/
CEO of BIKMARK Mr. Biju Karnan was arrested by Police. According to reports, he had committed a fraud of about 100 crores of rupees. He also misused the name of the former President of India. Dr. A.P.J. Abdul Kalam.
End of Money chain company........Ha Ha ha Ha Ha Ha Ha Ha
Speak Asia ...... Survey Company Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha
Congratulation Sucheta & Moneylife Team.
http://www.consumercomplaints.in/complai...
http://www.consumercomplaints.in/complai...
MoneyLife stand vindicated by the arrest of the chief operating officer of SPEAK ASIA, the online survey company, for alleged financial irregularities
Don't go on a witch hunt which will hurt a lot of innocent investors, try to resolve and help the people who are enmeshed in this affair.
Anybody can pull others down, those who help people to rise above their troubles are the true heroes and socially conscious people.
If filing an FIR and getting arrested someone is so easy, why don't you try it out on some media people who according to your knowledge had destroyed a "very good, and huge money machine, that was giving easy moolah"? Try it out and then comment. FYI....its not easy to file an FIR, check it in your neighbouring police station, if at all you are from India. I dont know the procedures of Singapore.
its very unfair...
so stop making reumours against SPKASIA.
i thik its only one company which provide income to many of unemploy peoples
and IT helps to decreases unemployment from our INDIA.
I appreciate your fight against chain MLM companies, here is the information for you to take action against this particular company called NMart Retails., kindly take immediate action.
I'll send my important findings later based on your work, but http://www.moneylife.in/gotquestion_disp... has information in your site itself..
I've taken this source from:
Thursday, 21 July 2011
NMart is one of the biggest indigenous frauds
I appreciate your struggle against MLM is good and nice. Here is the MLM, NMart fraud.
The chairman of NMart is Mr.Gopal Shekhawat, chairman of Asia Region of Internatinonal Human Rights Association.
The membership of this human rights association is available for Rs 5000, keeping this label this NMart is cheating people.,
Being chairman of IHR Association, he is cheating people with fake promises.
http://www.ihra.co.in
http://ihra.co.in/upload/index.php?mod=a...
NMart is fooling people.
We joined NMart without knowing this long term long fraud. They said that they would give Rs. 220/- vouchers for redemption at NMart stores for getting products, as of now it is going well and good. They said that they will give Rs 11,000 as royalty bonus and for that they would send bonds for Rs 11,000/- to all upline members.
But for many they stopped sending bonds, what is the guarantee for money, In india MLM is not legal I know, but, at least if we buy food from a small road-side hotel they give a bill on a paper, but, what about this company.
Many lakhs have not received the bond or agreement form the company, for 11,000.
Now when we ask they say that there is scarcity of bonds with government. Ok, we agree. The company has to give an agreement on a bond paper but the customer care says that they will pay 11000 after 4 years.
Moreover, the company is asking us to take printout of the agreement form from their website.
How will a printout from a website be a legal document?”
Whatever cyber law is applied it is not valid in a court of law,
How is it legally valid what we have taken from the Net, it is not valid as anyone can make modifications from the Net.
Why can't the company send printed agreement of the promised Rs 11000 and next the company made an advertisement in the website http://www.nmart.co.in saying that the associate who joined the company before March 31 will get Rs. 11000 at the end of 4 years and no compulsory purchase is needed.
In the agreement what they put in the Net is like this:
7. Independent Business Associate who has a purchase account of less than 48 months will not get loyalty bonus.
Actually the company got 42,000 joinings in a single day on March 31 as they gave an offer saying that no need of purchase for an associate who has joined before March 31, others have to purchase products worth 72,000/- within 4 years for getting this bonus of 11,000.
Now they changed their promise and they print in the e-agreement in the website of associate login saying that “Independent Business Associate who has a purchase account of less than 48 months will not get Loyalty bonus.
Is this not a cheating?
Cheating of NMart as of now..
1 .Promised that they will pay Rs 11000 without purchase of products in NMart for associates who joined in January 2011 to March 31, 2011. But they say that each associate has to purchase products if they have a mall of NMart within 20 km radius, but, now they say in clause No. 7. Independent Business Associate who has a purchase account of less than 48 months will not get Loyalty bonus”
2. Next fake is that they printed vouchers and gave it for 1 year out of 4 years , for purchases of 220/- worth products, now they say that this coupons will stand cancelled and asking associates to upload photos in website and login and take a printout of the voucher in website.
One question how many people will have knowledge of net and computers, many might have joined by force, emotional joining, out of pressure, for pleasing a friend etc. They don’t remember their password, login, details, cell number to enter in the time of registration in NMart, but, now how can they log in and get a printout form the site,
Many people who joined them in NMart died, transferred, shifted etc. Who will have the password and contacts of the associates, how can this poor associate take a printout and get Rs 220 products.
Many poor Indians don’t know net and computers etc.
3. They said they will give a smart card, loyalty card for transaction they have not sent it till date. It is doubtful they send in future.
4. They said that they will get repurchase income for associates, that is, if associates under a joined person, who have a 20 layer people , who are called down line, if the down line purchase products , the up line will get commission on products as this manner
16 , 25, 50 and 1 percent commission.
But till today this amount is not counted. Is this not cheating?
5. They promised big gifts, but it is a doubtful they are giving or not.Only few that is in 10 percent will earn money in MLM, that is, once food is poison for others.
Have a look at the tricky agreement put in their website of the login of associates
Associate to create the online
purchase account immediately then only NEWLOOK MULTITRADE recognize the details
according to the online purchase account hence NEWLOOK MULTITRADE will not be
liable for any loss of bonus, income or commission due to the late creation of online
Independent Business Associate Agreement
purchase account.
The following are the terms and conditions for an Independent Business Associate of
M/s NEWLOOK MULTITRADE Pvt. Ltd.
Independent Business Associate” refers to, : XXXX S/o , R/o XXXX
(Hereinafter called as the “Independent Business Associate” which term shall mean
and include their heirs, executors, successors, administrators, legal representatives
and assigns etc., of FIRST PART) AND
“Nmart” refers to a division of NEWLOOK MULTITRADE PVT LTD, 3rd Floor savera
complex, opp. Krishana Petrol Pump, Udhana-Navasari road, Surat, Gujarath.
(Hereinafter called the “Nmart” which term shall mean and include his heirs,
executors, successors, administrators, legal representatives and assigns etc.,of
SECOND PART.)
Legalities we understand
NEWLOOK MULTITRADE is a registered company, registered under the company’s Act,
1956, having understood by both the parties herein on the following legal information
stated below:
1. It is believed and understood that, the Government of India in its letter vide
No.F.No.21/22/2001 Dt. 09/04/2003 & D.No.21/22/2001 Dt. 31/03/2003,
categorically stated that “the inapplicability of the provisions of the Prize Chits Money
Circulation Schemes (Banning) Act, 1978” to direct/network/ multilevel marketing,
does not come under purview of Police (criminal) action who carries a marketing
business of selling the products/goods similar to this Nmart.
2. It is also believed and understood that, the Hon’ble Supreme Court of India, in its
judgment reported in 1982 SC 949 & 1988 SC 492, categorically passed a historical
verdict, stating that the Police (criminal) action has no consequence on these type of
companies, so as also, in another judgment reported in 2006 Crl.L.J.1961 by the
Hon’ble High Court of Patna (Bihar) that, even these type of Companies have only
consequence in Civil nature of Litigation.
Thus, both the parties herein once again believes and understands to proceed in this
Marketing Business, since it does not suffer from any legal complications as indicated
herein above. Hence entered under the following terms & conditions.
Independent Business Associate.
1. NEWLOOK MULTITRADE accepts payments against its goods/products/services as
an advance payment to deliver the goods/products/services, thereafter issues the
PVC (Payment Verification Code/ E-pin) immediately to the person who has sent the
payment subject to verification and acknowledgement of the remittance only.
Subsequently, the online purchase account will be created by name as an Independent
Business Associate to the NEWLOOK MULTITRADE and will get started with those
facilities and benefits subject to online purchase account has been setup.
2. NEWLOOK MULTITRADE will only be responsible for sending the PVC/E-pin to the
respective Login ID of the person who remits payment into the company’s account and
it is sole responsibility of Independent Business
3. The minimum advance amount for
purchase to become an Independent Business
Associate of NEWLOOK MULTITRADE begins with Rs. 5500.00, after submission of
company’s application, its rules and regulations under terms and conditions duly
signed by the IBA together with this agreement.
Purchase
1. Nmart acknowledge the payment of Rs {4.RegistrationAmount}/- that has been
received from the Independent Business Associate who’s NEWLOOK MULTITRADE ID
{5.Username} is against the purchase of our products.
2. NEWLOOK MULTITRADE will provide a purchase account under the login section of
website http://www.nmart.co.in and this payment will reflect in terms of advance products
coupon to purchase goods/ products.
3. Independent Business Associate has to take the printout of the agreement from the
login section and after signing on all the pages, has to send to the company along with
their copy of PAN and address proof to become a verified Independent Business
Associate, further understands that verification is must to receive the payout from the
company, in case of delay in verification NEWLOOK MULTITRADE will hold the payout
until the verification process is completed.
Benefits
1. Independent Business Associate will get Nmart Loyalty bonus of Rs.11, 000 after 48
months of purchases. NEWLOOK MULTITRADE will try its level best to give maximum
bonus not less then Rs.11, 000.
2. Each associate will get free purchase voucher of Nmart stores worth Rs.220/- each
month for 48 months, which can be redeemed at any Nmart retail outlet across India.
3. Independent business Associate will get credit facility of Rs.1500/- max. for every
month,
4. Credit for the last month has to be settled by 7th of every month. Credit can be
availed from any Nmart stores across India including compensation plans shown in
broacher.
5. If any Independent Business Associate fails to settle credit account in specified
duration, Nmart will hold all credit facility, free purchase vouchers and Loyalty Bonus.
6. Independent Business Associate will get Commission according to our compensation
plan as mentioned in our website http://www.nmart.co.in
7. Independent Business Associate who has a purchase account of less than 48
months will not get Loyalty bonus.
8. This agreement stands good for availing services to Four-year period only.
WHEREAS:
1. Independent Business Associate agrees that the NEWLOOK MULTITRADE
Independent Business Associate is an independent contractor, and not an employee,
agent, partner, legal representative, or franchise of NEWLOOK MULTITRADE
Independent Business Associate further agrees not to incur any debt, expense,
obligation on behalf of, for, or in the name of Nmart.
2. Independent Business Associate must be of above 18 years old on the date of
agreement.
3. Management reserves right to accept or rejects/cancels the Independent Business
Associate ship whenever it feels reasonable.
4. The Independent Business Associate will not be permitted to avail more than one ID
on his/her name.
5. Independent Business Associate agrees to present NEWLOOK MULTITRADE business
plan and NEWLOOK MULTITRADE products and services as set forth at the official
NEWLOOK MULTITRADE website. Independent Business Associate will make no claims
regarding potential income, earnings, products or services beyond what is stated at
the official NEWLOOK MULTITRADE website. Independent Business Associate further
agrees not to reproduce commission checks or distribute commission checks in any
form or by any means.
6. Independent Business Associate agrees not to disparage Nmart, other NEWLOOK
MULTITRADE Independent Business Associates, NEWLOOK MULTITRADE products,
NEWLOOK MULTITRADE Business Plan, NEWLOOK MULTITRADE employees or
NEWLOOK MULTITRADE Independent contractors. Independent Business Associate
understands that disparagement may result in the immediate suspension or
termination of Independent Business Associate’s purchase account with a cancellation
of any pending commissions.
7. Independent Business Associate understands that the information given on the
website http://www.nmart.co.in is the latest and it will be only applicable regarding our plan,
products and services. Independent Business Associate further understands that any
printed material regarding our plan, product and services which is available in the
market may have been outdated, so please visit our website frequently for latest
updates regarding our plan, products and services.
8. Independent Business Associate agrees to not utilize SPAM in promoting Nmart.
This action may result in the immediate suspension or termination of Distribution
account with a cancellation of any pending commissions. Independent Business
Associate will also be in violation of the NEWLOOK MULTITRADE Distribution
Agreement and subject to legal action and be held liable for any financial loss incurred
by Nmart. Any service interruptions to NEWLOOK MULTITRADE as a result of
Independent Business Associates spamming will be billed to Independent Business
Associate at Rs. 10000 per hour until service is restored. For the purpose of this
agreement SPAM is defined as emailing ANYONE, in bulk or by single mailing, about
Nmart, who has not specifically requested the information directly from Independent
Business Associate. The ONLY exceptions to this are:
Mailing to APPROPRIATE OPT-IN mailing lists where the sources do the mailing on
Independent Business Associate’s behalf AND you do not advertise an NEWLOOK
MULTITRADE - provided Gateway URL.
However, use extreme caution when choosing an opt-in mailing list company. Using
anything but the most reputable sources could generate spam complaints against
Independent Business Associate resulting in suspension or termination.
You may include information on NEWLOOK MULTITRADE in email Acknowledge
Messages for orders and inquiries that you receive so long as it is stated upfront that
you will be sending them an acknowledge. NEWLOOK MULTITRADE also considers any
type of advertisement about NEWLOOK MULTITRADE posted to a Newsgroup or Chat
Room to be spam. Violators may be fined at Rs. 2500 per incident.
9. Independent Business Associate agrees to provide NEWLOOK MULTITRADE with
valid email address, postal address, and copy of PAN card and address proof upon
registration. Independent Business Associate understands that the use of an Auto-
Responder email address is prohibited.
10. All payments will be made in Rupees. Independent Business Associate
commissions shall normally be paid by ECS/Account transfer/Demand Draft or
Cheques and sent out weekly/monthly. If a sale is cancelled or refundable, the related
commission will be deducted from a subsequent payment. Payment will be made after
the deduction of TDS according to Indian law. Payout will be sent through ECS to the
Bank details provided by the Independent Business Associate. Independent Business
Associate is requested to update the Bank Account and Bank Code. Providing the
wrong bank account may cause delay of payout and NEWLOOK MULTITRADE will not
be responsible for the same. Any penalty or fine or charges levied by the bank shall be
born by the Independent Business Associate due to insufficient/ inaccurate information
given by the Independent Business Associate.
11. Independent Business Associate agrees to receive NEWLOOK MULTITRADE email,
and restricted to sales reports, training, newsletters, plus messages.
12. NEWLOOK MULTITRADE will make every reasonable effort to track and pay
commissions for all sales that apply to Independent Business Associate. However,
NEWLOOK MULTITRADE is not responsible for technical problems, acts by third
parties, or other events outside our reasonable control which may temporarily disrupt
or diminish this service.Independent Business Associate understand that Independent
Business Associate tracking can never be 100% accurate and NEWLOOK MULTITRADE
is not responsible for inaccuracies that might occur beyond its control. Tracking of
Independent Business Associate sales depend on several factors, technical and
otherwise, which are out of the control of Nmart. It is the goal of NEWLOOK
MULTITRADE to make Independent Business Associate tracking as accurate as
possible; however, NEWLOOK MULTITRADE cannot guarantee 100% tracking for
situations beyond its control.
13. To protect NEWLOOK MULTITRADE customer privacy, if deemed necessary,
NEWLOOK MULTITRADE reserves the right to withhold identifying customer contact
information from Independent Business Associate.
14. NEWLOOK MULTITRADE reserves all rights in or to its trademarks and services
marks but may be used by Independent Business Associate in accordance with this
agreement. Independent Business Associate may in no way display NEWLOOK
MULTITRADE logo, image or trademark that may be distasteful, misrepresented or
subjecting to deterioration.
15. Independent Business Associate shall follow NEWLOOK MULTITRADE advertising
guidelines and agrees not to misrepresent NEWLOOK MULTITRADE products and
services. Independent Business Associate agrees to use only NEWLOOK MULTITRADE -
approved ads. You may submit your own ads for Nmart’s approval. They must be
approved however before you can publish them.
16. Independent Business Associate may not assign rights or delegate duties under
this Agreement without the prior written consent of Nmart. Upon request NEWLOOK
MULTITRADE will provide Independent Business Associate with guidelines for the sale,
transfer or assignment of Independent Business Associate with guidelines for the sale,
transfer or assignment of Independent Business Associate NEWLOOK MULTITRADE
business.
17. NEWLOOK MULTITRADE shall not be held liable for any indirect, incidental, special
or consequential damages or any loss of revenue or profits arising under or with
respect to this Agreement or program, even if NEWLOOK MULTITRADE has been
advised of the possibility of such damages. NEWLOOK MULTITRADE aggregates
liability arising under or with respect to this agreement or the program shall in no
event exceed the total commission paid or payable by NEWLOOK MULTITRADE under
this agreement.
{6FullName}
18. NEWLOOK MULTITRADE reserves the right to amend, modify, and terminate this
agreement at any point of time with out any notice. The Term of this Agreement shall
stand good for a period of one year from the date of execution of this agreement and
shall automatically be renewed after every year without further consents of parties
unless either party has terminated this Agreement by written notice to the other. If
terminated, outstanding commissions at time of termination shall be paid in the next
payment so long as the Independent Business Associate did not violate the terms of
this agreement. Payment of the final commission to the Independent Business
Associate may be with held for a reasonable time in order to ensure that the correct
amount is paid.
19. No Refund Policy: The purchase amount paid towards goods/products/services
offered shall not be refunded under any circumstances and Independent Business
Associate can take back his/her 100% goods/products/services if the purchase coupon
has not been redeemed and has not violated any clauses mentioned in this
agreement.
20. Jurisdiction: In the event of any dispute arising between the Independent Business
Associate and NEWLOOK MULTITRADE relating to any matter connected with this
agreement or with regard to appointment as an independent Business Associate of
NEWLOOK MULTITRADE or the subject thereof or in relation thereto and whether as to
construction or otherwise, the same shall be referred for Arbitration and Conciliation
Act, 1996. The company shall appoint a Sole & an Independent Arbitrator whenever
any such dispute arises. The award made by the Sole Arbitrator shall be final and
binding on both the Independent Business Associate and Nmart.
The jurisdiction for the purpose of any litigation shall be the Jurisdiction of Surat,
Gujrat state Courts only.
Both the parties herein consents with each other, agrees the above terms & conditions
under this agreement by enjoying sound health with out any compulsion and under no
duress, entered also within the meaning and ambit of Cyber Laws of the Information &
Technology Act, 2001 or any other laws of this land made on the 3 Day of February in
year 2011.
1. Party No. 1 : XXX 1.
2. Party No. 2 : Newlook Multitrade Pvt. Ltd.
More than everything that Gopal Shekawath is telling he is going to buy a flight & going to come with TV channels very soon along with more number of outlets all over the country.
@ moneylife govindan (fake),
i'm having my work finished already, but i won't reveal to you here, i found the information links in moneylife itself so thought of using that itself..
Thanks for your comments on our article. While we appreciate your views, you are increasingly accusing Moneylife Team for various things. Let us share and repeat some insights with you and other readers. We at Moneylife do not allow promotional material (under the pretext of sharing views), abuse or spam. We have very strict and robust, third party mechanism in place, which blocks all kind of comments, messages or posting that it found offensive or promotional in any manner and it is done automatically without any human intervention. We at Moneylife just monitor the traffic and comments, but neither intervenes nor post any comment or reply, unless asked/requested specifically by readers.
We understand your concern regarding Speak Asia, but this is not the only company about which we have written. There are number of companies, schemes about which we have been warning investors since ages. Also kindly note, we do not write any article without checking, re-checking and cross checking facts with various sources, authorities and representatives of the concerned entity. If you want to share some information, you are always welcome to send us a mail to [email protected] or visit our office with relevant proofs and documents, if any.
We again request you not to use this space for baseless allegations and accusations.
Regards,
Moneylife Digital Team
I've written only my opinion & views, sorry if it would have hurt moneylife, it was not my intention to hurt anyone of you in moneylife, sure - i'll bring some insights with some proper proofs directly to your office very soon since i'm also a journalist (with some other name) with a prominent agency, but i support true direct selling companies & i'm against to all chain MLM companies, you will come to know me very soon, no problem - if you felt bad i convey my deep apologies, sometimes i want to be rough here, i'm having very good friends in all political parties but i'll be acting against all illegal activities for which i've taken big risk in life, besides leaving many companies who have cheated hardly earned money from many people & ran away in the past, moneylife - has taken the step in stopping a good company which use to give payment regularly to its customers, their intention was different when they started the company in India and they were in the process of changing their business model to a highly intelligent & effective business model from which many people in our country can get great benefit & avoid unemployment, poverty & live with better living, only thing outside what people like you think is easy money speakasia is giving to all and it'll stop one day, but if govt. directly involves & check their background & allow them to do their work once they believe that it can't stop giving or cheat the public then what is the wrong in leaving that company. Now it is in the hands of govt., authorities to decide, already matter went to them, let's wait & see what will happen next, i'll sum up here by telling speak asia, a mostly misunderstood company in India by some people & use them for different propaganda to destroy their business only with the intention of thinking if speakasia comes-up their business will be destroyed..!
Let's wait & watch..!
I expect no more bad comments for my final comment here..!
Thanks & Regards,
Venkat
Don't be so childish. I have no connection whatsoever with Moneylife.
I wish all success to Monylife and Ms. Sucheta Dalal
I had already post your Question's Answer in earlier comment but after an few hours your Moderator/admin deleted all my sounds goods comment. I think your moderator have some problem, they needs negative feedback in favor of Speak Asia NOT positive feedback.
You admit that It is identical but different. What is the difference? How is SPEAK ASIA different from other money chain companies. please enlighten us. wee need to do our research.
I think it might not be, because their motive is different, we should not tell anything until Govt of India along (ROC, MCA, RBI & ED) CBCID releases it's final report about that company, if they come with clearance surely i'll join them & give my support, in my point of view the money collected by them in india is very less compare to that of money given to all their customers (panelists), the difference is huge, they have put their own money in huge amount, that calculation & all i did already, even if they give back the pending amount with all struggle surely they'll be the company here to stay forever, that was my simple answer, the concept of network marketing & affiliate marketing are totally different, both are different! One person has rightly commented about the difference, just see that person's comments below his name, i think he was swaminathan, in network marketing only 5% of people succeeds whereas 95% people fails because the system was like that, bitter truth is that particular company will be running only in the failures of many customers, not from the success of many people, that was 100% true whereas here in speak asia it was totally different, there's no failures, that means people will get what they expect or what they thinks until company itself stops to give to that person, you people telling company will stop giving one day and run-away, by seeing the past experience you are telling that, but for that now only govt. has started to take initiative in seeing company's background before it starts its operation in india, it will remove all fraudulant companies if really they came with the intention of doing frauds, govt. will probe / investigate their whereabouts, their background which is very important, see the following link which came in Business Standarad
http://www.business-standard.com/india/n...
So, until Govt. releases the probe or investigation reports people like you or moneylife or BJP or NMart or RMP or any company, corporate & political party should not comment like this! That was my Point! I'm also totally against to MLM & chain business. Problem with speak asia is the business model looks identical like money chain but it is not! Just do your research again..!
Why most of the Money chain companies are operating from South Eastern countries, especially Singapore? Can anybody please answer this question.
There is a proverb which says, "Nipping a poisionous flower when it's still a bud so it can't grow." Whatever you said would have made sense only if your money swindling company would have respeceted the law of the land and would have got itself at least registered last year. (dont give me the s**t that it is going to get registered now). So keep your crocodile tears for yourself and wait till eternity that one day they will pay convert your RP in real paisa. til then RIP..
What nonsense you are talking, are you fool? i'm not supporting speakasia here, just asking to not tell anything against them until govt. gives final report, wait for that day, then talk, but you are talking full of nonsense blaming me..
You are telling.. "Money swindling company not respected the law of the land..!"
Let Govt. tells that & even if they have not respected the law of the land whatever penalty is there let them pay to the govt. If govt. accepts them again lets talk about that, until then you don't talk s**t, who is leaving crocodile tears here, why i want to do that, don't pull my legs idiot, who are you? paid by b*****s, talk after the judgement..!
You admit that It is identical but different. What is the difference? How is SPEAK ASIA different from other money chain companies. please enlighten us. wee need to do our research.
Why most of the Money chain companies are operating from South Eastern countries, especially Singapore? Can anybody please answer this question.
Haren khore may please respond
Why do you say Speak Asia is not a money chain company?
Please clarify.
I think it might not be, because their motive is different, we should not tell anything until Govt of India along (ROC, MCA, RBI & ED) CBCID releases it's final report about that company, if they come with clearance surely i'll join them & give my support, in my point of view the money collected by them in india is very less compare to that of money given to all their customers (panelists), the difference is huge, they have put their own money in huge amount, that calculation & all i did already, even if they give back the pending amount with all struggle surely they'll be the company here to stay forever, that was my simple answer, the concept of network marketing & affiliate marketing are totally different, both are different! One person has rightly commented about the difference, just see that person's comments below his name, i think he was swaminathan, in network marketing only 5% of people succeeds whereas 95% people fails because the system was like that, bitter truth is that particular company will be running only in the failures of many customers, not from the success of many people, that was 100% true whereas here in speak asia it was totally different, there's no failures, that means people will get what they expect or what they thinks until company itself stops to give to that person, you people telling company will stop giving one day and run-away, by seeing the past experience you are telling that, but for that now only govt. has started to take initiative in seeing company's background before it starts its operation in india, it will remove all fraudulant companies if really they came with the intention of doing frauds, govt. will probe / investigate their whereabouts, their background which is very important, see the following link which came in Business Standarad
http://www.business-standard.com/india/n...
So, until Govt. releases the probe or investigation reports people like you or moneylife or BJP or NMart or RMP or any company, corporate & political party should not comment like this! That was my Point! I'm also totally against to MLM & chain business. Problem with speak asia is the business model looks identical like money chain but it is not! Just do your research again..!
There is a proverb which says, "Nipping a poisionous flower when it's still a bud so it can't grow." Whatever you said would have made sense only if your money swindling company would have respeceted the law of the land and would have got itself at least registered last year. (dont give me the s**t that it is going to get registered now). So keep your crocodile tears for yourself and wait till eternity that one day they will pay convert your RP in real paisa. til then RIP..