Speak Asia: completed investigation, November will filed charge sheet Amit Kumar

In a news article in times of India .They have published that EOW had finished there investigation and soon they will filed a chargesheet soon in November . Is it good for panelist???

Answer(1)- Yes its a great sign in their 90 days of investigation they EOW just able to find the banking transaction made by SPEAKASIA ,and there is no charges against SPEAKASIA which proves that SPEAKASIA clients were false . And the all transaction made by SPEAKASIA was in a legal way. SPEAKASIA has followed every rule under which they have transferred the money .In EOW investigation EOW was also able to find the money which was distributed to the panelist .which is approx 1100 crore .The main charges against speakasia was that speakasia had operated in ponzi scheme for this to be proved they do not have any proof .

Answer(2)- And other charge is chit fund act if SPEAKASIA has no clients then this charges can be put but speakasia have shown their clients list and the transaction made by clients to the SPEAKASIA has also bee given to EOW .Means this charge can not be proved in fact they do not have any evidence to put this on SPEAKASIA .

Answer(3)- Another charge is Money Circulation Scheme in case of Speakasia its not possible. They paid their panelist for filling survey, they never said any panelist that they will only get paid if they join new members so this charge can not be put .

Answer(4)- Another charge is violation FEMA and we all know that due to the strict rule of RBI it can't be possible no money can be transferred to foreign without the permission. We all know that Speakasia was doing this for last one year means RBI and Banks were aware of this . And the Master Franchisee have taken all the clearence from RBI to transfer money outside . So this act can not be put also from unconfirmed sources .They claim that a news was shown in aajtak that RBI had find nothing illegal in their investigation so this act can't be put at all.

Answer(5)- And other main and most important charge is 420, this charge can only be put if EOW able to prove that speakasia have cheated the Panelists but it is not possible. This charge was put by a panelist in their FIR, he had mentioned that Speakasia had stopped the payment .But we all know why Speakasia had stopped the payment due to the RBI circular, Banks were not able to grant the permission for transaction . And RBI is ready to give clearance to repay the dues, so once if the accused get payment then there will not be any 420 charges .

Answer(6)- MCA also accused Speaksia for violation of company act but its not possible in case of Speakasia because Speakasia is an online business and for online there is no Law till which says that a company which runs an online business needs any registration. Company act is very old and it is yet to be revised means again there is no violation at all . .

Everyone of us very curious about the taxes about the Speakasia, it was paid in legal matter let me clear this .

Answer(1)- As we all know that Speakasia had paid their taxes in every transaction which was made in proper banking channels means there is no violation can be made. And the other and most important " did panelist paid there taxes when generated PINS ?" let me clear this as we all in the model of Speakasia we get rewarded by Reward Point means that we earn reward point not money means company can paid this to us .If we sell that reward point it can be sell as free means no one in legal matter can prove this wrong .Let me clear this by an example it is all up to me or a panelist that reward point earn by panelist can be used to generate pins and it is a logical product just like a game it is very complicate d to clear but I am trying. Means I can create an account there is no where mentioned that that PIN can only be sold through money .It can be given to our friends and family members . If they pay us for creating account its between the individuals, taxes are only paid on earning there is no any law which violated.

CONCLUSION:- In short there is nothing illegal in the matter of speakasia, its all the legal proceeding. I want to say that if EOW and RBI has any charges then Speakasia has stronger arguments against their charges means no one can stop Speakasia to win the battle .In my this article I had tried my best to clarify why should we trust on speakasia .