Survey E-Wallet RPs can generate subscription codes now

Dear Speak Asians,

The BizBasket expert team feels that we are very close to victory. Things are moving very very fast in the favor of Speak Asia. Following are the facts which led us to this conclusion:

1. Today There is a new tab added in “Reward Point Transfer” page of the http://www.speakasiaonline.com namely “Survey E-vallet To Shopping E-Vallet” from where survey RPs can be transfered to the Shopping E-vallet, from where subscription codes can be generated through the “generate subscription code” tab.

2. The case in Honorable High Court was filed on 07/07/2011 and the judgment came just 7 days after the filing i.e. on 14/07/2011 (Please refer our previous posts).

3. As you all know that after the Honorable High courts direct to the RBI for representation of Speak Asia dated 14/07/2011, RBI issued a circular dated 15/07/2011.

4. As per our very reliable sources in Speak Asia the Company is very much confident on getting the Permanent Establishment (PE) done in this month end and the bank transfer is expected to start at the max by the first half of August.

Note: All the above facts give us an impression that the things are moving fast at the background and we are very close to a point from where the normal business operations of our Company will start as usual. Friends ! let us remind you once again that as soon as the Company gets the nod from the government, the business is going to blast as it happened in USA with the Amway Corporation in 1979 (Please refer to our previous posts) after the Federal Trade Commission (FTC) gave a clean chit to the Company. So let us stay tuned and keep a very close watch on the moves of Company as well as government institution.

Remember ! “SATYUG MEIN JO SHAKTI SHASTRA (alms) MEIN THI, KALIYUG MEIN WO SANGATHAN (organization) MEIN HAI”.

If united we fight, we will win . . .

Star News’ apology to Speak Asia 21/07/2011

Dear Fellow Speak Asians,

Please go through the following link to see the disgruntled face of the media in our country which can go to any extent for their bread and butter i.e. TRPs. In this video Star News is apologizing to all Indians for showing false news against Speak Asia. For those friends who do not understand Hindi please get a translator along with you but you must go through this video.

This fact is not hidden from any one in India that after the advent of private news channels the electronic media is rampantly being used for money making and there is an advertisement war going on in public. Today the news channels can go up to any extent to defame anyone ranging from Politicians, Bureaucrats, Companies, celebrities and what not.

This is not a surprise for any developing or developed democratic country where the only mantra to success is “Profit”. Ranging from Education, Health, Meditation, Politics, Social work and everything almost is done only and only for profit and for nothing else.

In our country “freedom of press“ is being misused by the private television channels to such an extent that each and every citizen or institution is afraid of it. It is very common to see these profit greedy channels abusing and taking anyone for a ride any time they wish creating false news.

But this time by mistake they messed up with an institution which is still very pristine and dry honest in our Country, the Judiciary. Yes we are talking about Star News putting false allegation against Speak Asia using the name of Honorable Bombay High Court.

To the shame of Star News, it apologized to entire India that it presented a false news and that to taking the name of the Honorable High Court. As we all know in our country there is only one institution from which media gets afraid and that is Judiciary. This is the reason Speak Asia had to go to various courts in India for justice.

Make Your Opinion Heard

We request all the readers to go through this link of Indian Broadcasting Foundation where you can lodge your complain against any content shown on any channel on the television. Please fill up the form available on this link http://ibfindia.com/forms/Complaint_Form.pdf against Star News and send it to the address or email mentioned in the link. Though we don’t expect much result from this activity at least this way we can make our voice heard to them who take us for granted.

History of Network Marketing – BizBasket’s Research

Dear Fellow Networkers,

Through BizBasket we are trying to create a platform where you can achieve thorough knowledge of Network Marketing and apply it on your respective Teams so that we can build a healthy business which can give a good name for our industry as a whole and can help people achieve their dream of Financial Freedom.

As you all must know that we are into an industry which is driven by knowledge. Through this article we just thought of providing you all with some knowledge of History of our industry. In this article we will present you the history of Network Marketing/Direct Selling in brief from international as well as Indian perspective.

Network Marketing is 70 years young. In the early 1940′s because of the efforts and innovation of a company by the name of California Vitamins Network Marketing was born! A few years later, the company changed its name to NutraLite Food Supplement Corporations.

Like all-powerful concepts, Network Marketing has also met strong resistance due to lack of understanding. There is no mystery to Network Marketing. It’s just another form of sales and distribution.

In 1959, former NutraLite distributors Rich DeVoss and Jay Van Andel started the Amway company as the American Way (Am – way) of marketing products. Today the two brothers are among the richest people of the world.

In the mid 1970′s, with no clear understanding of what constituted a legitimate use of network marketing, the Federal Trade Commission and state agencies across the United States Of America (USA) turned their eyes to almost all network marketing companies. In 1975, the FTC filed suit against Amway, alleging that the company was an illegal pyramid and that its refusal to sell its products in retail stores constituted a restraint of trade.

Amway spent four years and millions of dollars in legal fees to clear its name. In 1979 the FTC (Federal Trade Commission, USA) ruled that Amway was not a pyramid, that its revenue was generated from the sale of its products, and the FTC acknowledged network marketing as a legal and efficient distribution system. Then the Network Marketing exploded in the next decade.

Today there are thousands of Network Marketing companies operating throughout the world including United States, Canada, Mexico, South America, the United Kingdom, Europe, Australia, New Zealand, Israel, Japan, Asia and the Pacific Basin and the list goes on.

If we look at the history of direct selling in India, it started in year 1998 when Amway launched its business here with the help of its Networkers in USA. After the concept arrived in our country other Companies also jumped into it.

As this industry is bound to face challenges in any country wherever it goes, in year 2006 a case was filed in Honorable High Court of Andhra Pradesh and there was a judgment against the Company under the Mischief of Prize Chit Fund And Money Circulation Act, 1978. Further hearing of the case is still pending in the court of law and the Company has taken a stay on the basis of which it is continuing its business in India.

As it happened in almost every country wherever this concept went, in India too we expect a clear cut legislation for this business to be enacted by the Parliament of our Country. This will help this Multi Billion Dollar industry to grow rapidly in Inida too as it happend across the world.

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 http://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.

High court judgement and RBI’s Circular- BizBasket’s view

Dear Speak Asians,

As everyone remember there was a very critical judgment passed by the honorable Bombay High Court in the favor of SAOL (for detail please go through BizBasket’s previous post) on 14/07/2011. The judgment was, court directing RBI to give SAOL a chance for representation.

Now a very important circular which the RBI issued immediately on next day i.e. 15/07/2011 (to read the circular please click here )

We want you to go through the following three points of the circular very carefully:

1. It has come to the notice of the Reserve Bank that certain BOs / LOs established by the foreign NGOs, NPOs, news agencies and other foreign entities are continuing to function in India, without the approval of the Reserve Bank, after the Foreign Exchange Management Act (FEMA), 1999 came into force from June 1, 2000. Under the provisions of FEMA, 1999, ibid, the request of such entities to open an office in India is considered by the Reserve Bank in consultation with the Government of India, wherever required.

2. Accordingly, the foreign entities who have established LO or BO in India and continuing to function without obtaining permission from the Reserve Bank of India should approach the Reserve Bank within a period of 90 days from the date of issue of this circular for regularization of establishment of such offices in India, in terms of the extant FEMA provisions.

3. The foreign entities who may have established LO or BO with the permission from the Government of India may also approach the Reserve Bank along with a copy of the said approval for allotment of a Unique Identification Number (UIN) by the Reserve Bank of India.

Note: As this circular is about inviting companies of foreign origin for the regularization of establishment, definitely Speak Asia Online Pte. Ltd. also falls into this category. The Company has got a chance for representation and regularizing its establishment in India. One unique fact we can observe here that the things are rolling very very fast as far as government way of working is concerned. This gives us a sure hope that the regular business activities of SAOL will start soon.

Surveys are back on Speak Asia website

Dear Speak Asians,

As per the Company’s promise the Surveys have started getting uploaded. As usual it will be uploaded region wise. So we just need to wait till the turn for our region come. The surveys are working properly.

Regarding payments in bank accounts, as we all know that the Company is struggling at multiple fronts ranging from various Government departments, Judiciary, RBI, Ministry Of Corporate Affairs (MCA), Registrar Of Companies (ROC), media etc; it will certainly take some time for everything to get clear. Till then we should wait and watch the situation closely.

Note: We will keep you updated on each single news from each and every department and institution of Government from time to time. At this moment when the victory is very near we expect from each any every Speak Asian, maturity and patient. One thing please write on a piece of paper that once we win this lengthy battle, there is no looking back and the dream of FINANCIAL FREEDOM to every deserving Speak Asian will be realized. We are lucky to be part of the HISTORY when the fate of Direct Selling in India is being written.

SAOL’s reported violation of Sec 591; Companies Act, 1956

Dear Speak Asians,

Certain sections of Media have reported that SAOL has violated Sec 591 of The Companies Act, 1956. This is not the time for us to panic rather to understand the following facts about this section and implication of its violation by any company of foreign origin:

Companies Act 1956-Part XI, Companies incorporated outside India (Section 591-608 ) 591 Application of sections 592 to 602 to foreign companies.

Sections 592 to 602, both inclusive, shall apply to all foreign companies, that is to say, companies falling under the following two classes, namely:-

a). companies incorporated outside India which, after the commencement of this Act, establishes a place of business within India; and

b). companies incorporated outside India which have, before the commencement of this Act, established a place of business within India and continue to have an established place of business within India at the commencement of this Act.

To Read Section 592 to 597 and again from Section 599 to 602 please click here. These are various sections which are included in Sec 591.

Our major focus is on Section 598 and Section 599 which deals with penalty for violation.

• 598 Penalties.

If any foreign company fails to comply with any of the foregoing provisions of this Part, the company, and every officer or agent of the company who is in default, shall be punishable with fine which may extend to ten thousand rupees, and in the case of a continuing offence, with an additional fine which may extend to one thousand rupees for every day during which the default continues.

• 599 Company’s failure to comply with Part not to affect Its liability under contracts, etc.

Any failure by a foreign company to comply with any of the foregoing provisions of this Part shall not affect the validity of any contract, dealing or transaction entered into by the company or its liability to be sued in respect thereof; but the company shall not be entitled to bring any suit, claim any set off, make any counter-claim or institute any legal proceeding in respect of any such contract, dealing or transaction, until it has complied with the provisions of this Part.

NOTE: After going through sec 598 and sec 599 it is understandable clearly that there is nothing to be worried about as far as the Permanent Establishment(PE) of SAOL is concerned for which the Company is putting an unprecedented fight. We are not sure whether the Company has violated this section or not, but even if any foreign Company violates this section, the penalty is only in terms of fine (sec 598) and other contract related (covered by sec 599). If we see the penalties in relation with the PE of Speak Asia, it seems that it is not going to be hampered. So let us not draw any conclusion and wait for the final nod from Govt. Of India.

Speak Asia – RBI-High Court Judgement copy-Our view

Dear Speak Asians,

Please go through few pages of the judgement of the Honorable High Court of Bombay to understand the judgment.

This is a public document and you can find it at http://bombayhighcourt.nic.in/ordjudgement.php

As per the judgment, a direction has been given by the honorable court to the RBI to give an opportunity to the SAOL for representation of facts about their business.

One thing is crystal clear from the content of the 6th paragraph of the judgment, that the SAOL is trying its level best to bring the business back to the track. It wrote a letter to the RBI on 17th May, 2011 and again replied back to it in response of their letter on 20th June, 2011. This shows that the management is doing its job diligently and pursuing the case vigorously.

NOTE : BizBasket’s expert teams suggestion to all direct sellers/network marketers and Speak Asians is, they should learn about the law governing the direct selling industry and judgments passed in this regard by various courts of laws. To become a successful Network Leader you must have in depth legal knowledge of the subject. We will keep on posting various articles related to legal cases concerning direct selling so that you gain knowledge from them and educated your respective teams and create informed Networkers in your team. We hope that our continuous effort will lay the foundation of healthy growth of direct selling industry in India.

BizBasket’s view on High Court’s Order for Speak Asia

Dear Speak Asians,

It all started on 11th May, 2011 against Speak Asia on expected line. Massive media attack followed by Politicians, NGOs and other vested interests jumping in to take some undue advantage out of highly publicized issue. But what was unexpected to all was SAOL’s legal preparedness to fight the battle and their crystal clear intention to run the business ethically and forever.

In continuation with this battle SAOL has posted latest updates through its website pop up and following is the BizBasket’s expert team’s opinion in this :

• Facts concerning Direct Selling Industry as whole :

1. In the history of Direct Selling throughout world it has happened just second time when any Company has fought so vigorously against all establishments. The only precedence is Amway Corporation, USA which fought tooth and nail in year 1974 and made sure a legislation enacted to regulate direct selling in USA in year 1978.
2. In Indian Direct Selling history it is the first time when Ministry Of Company Affairs(MCA), Registrar Of Companies(ROC), Reserve Bank Of India(RBI) and other Government institutions have been forced to look into the matter and issue a clear cut guideline for this industry.
3. As said in the pop up media, NGOs and others are able to harass SAOL just because there is no law in our country regulating direct selling industry perfectly. There is only one law enacted which throws some light on this industry and that is “Mischief Of Prize Chit Fund And Money Circulation Act, 1978″. This law dates back to year 1978 and is unable to handle the issues in direct selling industry arising particularly after the pace became very fast because of Internet.

• Facts effecting Speak Asian :

1. In our opinion, now the only solution which the SAOL has is “The Legal solution”. Until and unless there will be a legal judgement in favor of SAOL, it will be at the mercy of the media, NGOs, Govt. Depts., Politicians and competitors.
2. The Company is legally very very strong and hired one of the best legal firms in India, A. K. Singh & Associates, New Delhi. It has not violated any law of the land till date that is why standing on a firm legal ground and 100% sure to win this lengthy battle.
3. The honorable High Court of Hyderabad [restrained harassment or arrest of any official or employee of our Company against a complaint made by an NGO (Criminal Petition 5626/2011)] and the Honorable High Court of Bombay [directing the Reserve Bank of India to give SAOL a hearing to understand its business model "expeditiously" (Writ Petition (L) No. 1365/ 2011 - SAOL & Ors. vs. Reserve Bank of India). ], has passed the respective judgments in favor of SAOL (Please see the judgement page of Honorable Bombay High Court attached with this article).

Note : All Speak Asians are part of history in making in the field of Direct Selling. At this point of time we should keep our faith in the Company and pray to god that a clear cut and final solution to this problem comes out so that we are not at the mercy of anyone in this world and can do our business uninterrupted and with honor.

Proud to be Speak Asian ! ! !

 

Facts about Permanent Establishment of Speak Asia

Facts about Permanent Establishment(PE) of Speak Asia in India – BizBasket Exclusive Research

As every Speak Asian is aware that our Company is going to be registered in India as Company having 75% FDI (Foreign Direct Investment) and working for its Permanent Establishment (PE) in India, following are some legal facts because of which is taking some time for this process to get over:

Excerpts from Section 591 in The Companies Act, 1956 591. Application of sections 592 to 602 to foreign companies.
(1) 1[ ] Sections 592 to 602, both inclusive, shall apply to all foreign companies.

Part XI of the Companies Act, 1956 containing Section 591 to 608 deals with the Companies incorporated outside India i.e. a “Foreign Company.
It says that a Company incorporated outside India and having an established place of business in India in which 50% or more paid up share capital is held by Indians then provisions of those sections shall apply to such Companies also.

Though under the Companies Act, 1956, no formalities are required to be carried out for a Foreign Company establishing place of business in India except the filing of the documents provided for in Part XI; under the provisions of Section 29 of the Foreign Exchange Regulation Act, 1973 general or special permission of the Reserve Bank of India for continuing any place of business or establishing any place of business for carrying on activities of trade and Commercial nature by a foreign company is required.

General:
The limit of the foreign equity in an Indian Company is now increased up to 51% from the earlier 40%. In certain cases 100% foreign equity participation is also now allowed. The Government of India has entered into agreements with major foreign countries including USA for avoiding double taxation.

Note: Friend ! after going through the above facts we must understand that there are some legal facts which our company has to comply with and which takes time, there is no short cut for this. So we request everyone not to panic and keep the faith intact in our Company. Let’s extend a strong hand of support to the Company which is building a strong foundation so that each one of us can achieve FINANCIAL FREEDOM. 
PROUD TO BE SPEAK ASIAN !!!