New Delhi: December 12, 2011 is a crucial date for the millions of people who joined the online survey site SpeakAsia that ran into trouble with the Enforcement Directorate of the Indian government.
On this date, the petition of 115 panelists, which is in mediation under Justice (Retd) RC Lahoti, will be heard. This report will contain the details regarding the ongoing mediation process and his opinion and findings.
Based on this report, Supreme Court will continue the proceedings of the case and a decision is expected soon after that.
Around 1.9 million Speak Asia Online investors had paid INR 11,000 each in the online survey company.
The reputation of the Singapore based company was shaken after questions were raised on its working, the company's ownership and business model.
Till date the company has remained engulfed in one or the other case of massive embezzlement of public money. Cases were registered against some of the top officials of the online company.
On July 29, 2011 the ED detained SpeakAsia COO Tarak Bajpai on charges that the company conducted a fraud of INR 2000 crore.
On this date, the petition of 115 panelists, which is in mediation under Justice (Retd) RC Lahoti, will be heard. This report will contain the details regarding the ongoing mediation process and his opinion and findings.
Based on this report, Supreme Court will continue the proceedings of the case and a decision is expected soon after that.
Around 1.9 million Speak Asia Online investors had paid INR 11,000 each in the online survey company.
The reputation of the Singapore based company was shaken after questions were raised on its working, the company's ownership and business model.
Till date the company has remained engulfed in one or the other case of massive embezzlement of public money. Cases were registered against some of the top officials of the online company.
On July 29, 2011 the ED detained SpeakAsia COO Tarak Bajpai on charges that the company conducted a fraud of INR 2000 crore.
No comments:
Post a Comment