Times Of India advt. and Ministry Of Corporate Affairs Notice

Dear Speak Asians,

Kindly go through the above pages of the Times Of India dated 21/07/2011. Following is our analysis which might be a matter of concern for every Speak Asian:

1. The SAOL has come up so boldly in the print media through the most popular news paper in India the Times Of India. It has not edited even one single word and the content in TOI exactly match the content published on the Pop Up of the website www.speakasiaonline.com

2. As we have said in our earlier articles also that the history of direct selling in India is being written, the Ministry Of Corporate Affairs, Reserve Bank Of India and other Government Departments are off late taking keen interest in the affairs of this industry.

3. As you can see in the above news paper page that the Ministry Of Corporate Affairs has issued a public notice for the investors at large, one fact is becoming clear that the Government has come to realize that this industry cannot be ignored and hence should be regularized.

4. More or less same was the case with the Insurance sector before enactment of the law regularizing this sector (for detail study please click here).

5. If we look at from International perspective, the scenario of direct selling industry was same in USA. There were uncountable numbers of Fly By Night Companies which were duping investors in the name of direct selling/Network Marketing. This was the exact way with which the Amway Corporation fought against the Federal Government in year 1974 when the allegation was framed on it that the Company too is running an illegal pyramid scheme. Amway spent four years and millions of dollars in legal fees to clear its name. In 1979 the FTC (Federal Trade Commission) ruled that Amway was not a pyramid and Network Marketing exploded in the next decade.

6. We hope that at this point of time where the direct selling/Network Marketing industry is matter of concern in various Government, Legislative bodies and judiciary there would definitely come a clear cut frame work for the regularization of this huge industry which will prevent the Fly By Night Companies to enter into this pristine business and safe guard the Networkers.

7. As far as Speak Asia is concerned, the way it has put up a fight against all the parties with vested interest and competitors, the victory is sure for this Company and the long term survival is visible from here. The most important achievement of this Company is the trust and confidence it has developed among its Panelists, Vendors, Employees and Networkers. If so many people fight unitedly for something in a democracy like India, success is guaranteed.