Speak Asia: 5 get bail,firm in talks on repayment to members

Defence Lawyer Aabad Ponda argued before the court that none of the accused had any active role to play in the case and the police have not yet found their direct involvement.

The agency acted upon a complaint filed by one Navneet Khosla,who had alleged that two executives from the company had approached him and had pursued him to invest a sum of Rs 2.7 lakh with the company. According to the prosecution,over 20 lakh people have invested money in Speak Asia.

However,after the scam came to light,the company put out a disclaimer on the website claiming any panelist who wishes to withdraw from the scheme can write to the company and get their money back.

“No panelist has approached us even after the complaint was registered. This clearly indicates there is only one man who is troubling the company,” said the lawyer.

Manoj Kumar,CEO,India Speak Asia,welcomed the order,and said,“We have full faith in the judicial wisdom and fairness of our country. We are confident that we will be absolved of all the accusations levelled against us.”

In a press note,the company said the management is in dialogue with the Reserve Bank of India on making the payments to panelists who “have stood firmly with the company.” The company added the “exit policy” will also be made available to people who wish to end their association with it.