Speak Asia COO Tarak Bajpai was detained

New Delhi: Speak Asia COO Tarak Bajpai was detained by the Economic Offenses Wing of the Mumbai police for questioning on Friday. The online survey company hit controversy in a multi-crore scam.

The move comes just two days after CID froze the online survey company's bank accounts.

Bajpai, who is the most prominent face of the online survey company's India operations will be flown from Indore to Mumbai.

Speak Asia is being investigated for a multi-level fraud. FIRs and PILs have been filed against it. The company has maintained that it collects money only for its online magazine and that the survey is just a benefit.

Speaking to CNN-IBN, Kirit Somaiya said that three other officials of speak Asia are likely to be arrested soon.

"Pranab Mukherjee had assured me that strong action would be done at the initial stage so that such frauds do not go on. Hope Pranab Mukherjee gives some assurance in Parliament this session," he said.

Who is Tarak Bajpai?

Tarak Bajpai is the face of Speak Asia's India operations. He mainly handled training, communication with members and hosted the retreat for Speak Asia investors in Goa this year.

The Singapore-based company Speak Asia, which is yet to be incorporated as a company in India, would be inspected under section 591 of the Companies Act, which is applicable on companies incorporated outside India and has established a place of business within the country, sources said.

The company charges a membership fee is Rs 11,000 for a year. The members are expected to conduct online surveys for clients of the firm. Members are paid for conducting the surveys. The company said that it pays Rs 500 for every survey to its member.

A New Popup On Progress...

Dear All,


We all can see a new PopUp On the website.


A Nonmember would not be able to see it as the popup appears once a panelist logs in to the website.


The Popup Has the following Contents

Dear Speak Asians,
We are happy to share the progress and update the status of various activities being done by your company .


1. Establishing a Liaison Office in India ( Process and Current status )
a) Application given to Reserve Bank of India
An application has been filed with the Reserve Bank of India, Mumbai through the bank for requisite permission to open an Liaison office (click for copy). We understand that the applications are considered on case-to-case basis and the permission from Reserve Bank of India generally takes about 4-6 weeks time from the date of submission of application.
b) Registration with Registrar of Companies, New Delhi
Upon receipt of approval from Reserve bank of India, requisite documents have to be filed with Register of Companies for registration of Speak Asia under Companies Act. After scrutiny of documents, the Register of Companies will register the Foreign office and issue the certificate of registration. Thereafter, SpeakAsia can open a bank account and start operation in India. We are trying hard to expedite this activity and will keep you updated on its progress .
NOTE: The payouts from India can only start once bank account is opened and the approvals are given in writing by the authorities.

2. RBI's approval for business model : Further to the order dated 14th July received
from Hon . High Court to RBI for a meeting with Speakasia to understand the business model , we have written yet again to RBI asking for a suitable date vide letter dated 21st July (copy of letter attached). We hope that many issues will get
resolved after this meeting .
3. Distribution of rewards earned by you: The LCD / LED TV's are already lying at
the customs (copy of documents attached). These goods are held up in Customs in Mumbai due to our bank accounts being frozen . We are incurring huge demurrages on the same. The deliveries will start as soon as the goods are released from customs.
4. Interim orders received from Hon. Andhra Pradesh High Court: We have obtained court order for staying any activity by Crime Branch - CID against any of the officials or associates of SpeakAsia (copy of order attached link 1, link 2). We are cooperating with the authorities and ensuring that the business model of SpeakAsia is understood by all.
5. Public Apology by leading national news channel for misrepresenting the facts was aired on 21st July,2011 ( link attached )

Friends , while we want to restart the business as fast as possible, we are constrained by the ongoing activities against us which only delays the entire process. In view of this giving a firm date can be a challenge but we assure you that we are getting closer by the day and working towards the earliest settlement of all issues which have been thrust upon us.
We thank you for your support thus far and hope that you will continue to have faith in your company and wait the business to start as usual. Kindly remember that any activity against your company by anyone (from within or outside) ,only will add to the delay. So be cautious and avoid any misrepresentation or activity that may delay the progress.
With best wishes
Team Speak Asia

New PopUp On Website

Dear Speak Asians,

The wait is over !!!!!!!

Keeping in line with our strategy and as communicated earlier, we proudly present to you our new web-site. This site is our foundation for a 'new age e-commerce platform' designed to fulfill aspirations of an empowered consumer like you.

Operations in India;

As you already know, our application for establishing a permanent establishment in India is awaiting government clearance.We really hope that we get a nod from the Government of India, in the coming weeks.

We did send a few test payments for the panelists and our suppliers for "rewards" in the last 15 days, sadly these amounts were not credited by their banks due to certain precautionary circulars issued by the Reserve Bank of India.

We have already put in process all the necessary actions with the competent authorities for allowing us to resume our normal banking operations.

In the meantime, with launch of this new web-site, you will be able to earn and burn your accrued reward points by buying products and services on the SpeakAsia platform. You will also be able to get subscription codes using your referral income.

Dear friends, this is only the first of the many steps towards realising & fulfilling the dreams that all of us at Speak Asia share. We assure that in the near future you will be given a host of new opportunities to earn and burn your reward points.

Look forward to your continuous support as always.

Thanking you

Team Speak Asia

E-Commerce Started in SpeakAsia

E-Commerce Started in SpeakAsia

Speakasians, the most awaited website in the history of India is now launched.  Please see one of the order details below booked in our team. We are very confident and assured that SAOL will provide us with high quality product and services there after. As per the track record of SAOL, it has never compromised on it's brand value and now 'YUG' will be next Big brand in the market very soon.

 Proud to be SpeakAsian!!

Updates from SpeakAsia Offcials

Updates from SpeakAsia Offcials

We have communicated with SpeakAsia officials and these are the updates from them:

• We are expecting pop up giving complete information about products within next 72 hours.
• Many products to be added by 31^st July for purchase.
• We have got clearance from many govt. agencies and we are expecting to resume our normal operations by 1^st week of august.

SpeakAsia Rocks!!!