EOW Speakasia Investigation - Aaj Tak Update

Speakasians, it seems that time to rejoice is close and we will celebrate our 'Independence Day' with double happiness this time. Few minutes back, Aaj Tak aired one news which clearly tells that Speakasia is on leading edge in this case. 

Let us analyze this news.

• Speakasia lawyers were on the leading edge. Why?  
• Our COO, Mr. Tarak Bajpai is still smiling and is very confident. Why?  
• Mumbai police does not have ANY solid proof against SAOL. Why? 

There is only one answer for all the above questions - SpeakAsia is a genuine company and has followed every possible law except the reported section 591 of Companies act, 1956 violation. We have earlier posted a complete article about it's details and possible fines for this violation, here.

What has Mumbai police to say:

• 12 lakh people deposited 997 crores with SAOL. 
• Many 'investors' are complaining against SAOL over the 'phone' . 
• We are 'still investigating' so we want them on further remand.  

Why are people complaining on the phone and why no one except one panelist complained about the company? Because we believe that SpeakAsia is genuine and has changed our life. The panelist who complained also agrees that he was paid 1.6 lacs for his participation in company provided activities by SAOL before the payment stopped. We are sure that everyone knows why the payments were stopped.

How did SAOL lawyers defend the case. They said:

• We suspect any politician's support behind this who does not want us to grow.
• With 15 lac panelist, only one complaint is filed.  
• The company who gives Rs.54 crores in a year as service tax, why they will want to run from country. 
• No one else has complaint, so why Mumbai police wants further custody.

What has Mumbai police done till now:  

• They have seized 30 bank accounts on the name of investigation.
• They have taken control of SAOL servers for investigating different functionality.

BizBasket reported in it's previous article that surveys will not come till the server access and control is with investigating agencies. Company is co-operating in investigation and they have provided their server access and control to these agencies.

The way the case was fought by SAOL lawyers, it was supposed that all 5 people will get released today, but the court has given second and may be last chance to Mumbai police to prove something against SAOL.

Fellow speakasians, one of the main power of Speakasia is it's ever supporting panelist base in India. Everyone of us has supported the company and the result is that there is just one complaint against the company. We need to keep our faith and support the company in this hard time. We need to make sure that our team and other panelist know the 'facts' and are not misguided by manipulated news all around.

We need to hold hands and sail together during this tough time and we will see a new beginning again.