After one of its legal advisors reportedly quit, Speak Asia's PR agency LinOpinion, has also decided to stay away from the controversial MLM company

Moneylife Digital Team

Speak Asia, the controversial online survey company, is facing rough weather these days. Following reports about senior advocate Ashok Saraogi quitting as one of its legal advisors, here comes other news. LinOpinion Public Relations, a division of Lowe Lintas group is no longer handling the Speak Asia account.

Lowe Lintas, one of India's top communication groups is a unit of Interpublic Group (IPG), and is part of the Lowe Worldwide network. The PR agency had won the full service business for Speak Asia online just three months ago.

Last month, several banks froze accounts of Speak Asia's distributors...sorry, technically, they all are distributors of Haren Ventures Pte Ltd, while Singapore-based United Overseas Bank closed accounts of Speak Asia online Pte Ltd. Following this, the MLM company has stopped paying its agents and accepting cash transfer requests as well, according to some panellists who do not want to reveal their names. They said the company continued sending some surveys and deposited reward points in the agent's e-wallet on its website. But the reward points cannot be encashed, unless the company accounts are unfrozen. Nevertheless, by its own admission, Speak Asia's chief executive Harender Kaur said in an e-mail to agents that the process to open an account in another bank in Singapore would take six to eight weeks and it could not pay money to anyone till that time.

The multi-level marketing (MLM) company that used to claim and advertise as "Asia's largest Online Survey Company" has changed its mind and tagline, and now describes itself on its website as "Asia's Largest Community of Sovereign Consumers".

Speak Asia also appears to be communicating with its panellists through the Moneylife website in the guise of a member. An email posted as a comment says,
"Few figures for you which shows how SPEAK ASIA is taking care of us:
Present Balance in UOB a/c of SA: 482 million dollars
(Sufficient funds to pay survey income to all the existing panelist for the next two years)
Now company has to withdraw funds from UOB as per the decision of UOB bank (Not abide by RBI, Govt. of India or Singapore its UOB's own decision as they are confused b'coz of media).
So company is taking following decision:
Escrow a/c*: 200 million dollars
a/c with new bank: 300 million dollars
But to process the pending request it will take some time so the company is trying to establish a temporary arrangement on priority basis for the newly associated 4 lakh panelists so that they don't get panic.
For SA upcoming ambitious project i.e. e-shoppe SA is already having 10 million dollars in advance from different prestigious brands.
Another fantastic news any time in the coming months SA in association with a UK based company can go for a 2G spectrum licence and launch our own Mobile network.
In context to ad based survey SA has already captured approx. 10% of the market share from advertisement in the TV channels all over India.
From Monday onwards their will be SMS blast by company to make us aware about new updates and news.
We had made a claim of Rs.3320.00 crores to all those who tried to defame us.
All staff of company will not withdraw their 2 month salary to support company at this crucial time.
2ND june 2011 talkatora stadium delhi booked for 2 seasons meeting of ticket 200/- only. (morning & evening 4000 speak asians each seasons) for tickets call priyal sir & myself.
(Three cheers for them)
Its really a good news to cheer.

Moneylife emailed it to top officials who gave us their visiting cards at the press conference on 16 May 2011. However, our messages, especially to Manoj Kumar, the company chief executive for India, bounced. Our mails to Mr Kumar have bounced many times in the past as well.

This (the bounced mails) further reveals, that the so-called biggest survey company, with over 19 lakh agents, does not even have its own e-mail server. Instead, all its officials use a paid e-mail service from Rediffmail Pro that is available for as low as Rs1,199 a year for five e-mail IDs.

Last month, advocate Saraogi called a press conference in Mumbai, barely after five days after Speak Asia's first media interface. Speaking at the press conference, Mr Saraogi said, "The company (Speak Asia) is not selling any surveys to panellists, but e-zines to its subscribers. Surveys are offered as additional benefit and can be withdrawn any time if the company's contract with clients comes to an end."

The senior lawyer also claimed that Speak Asia is selling its magazine over the Internet, which is allowed under the existing law in India and the company is in the publications business. Although Mr Saraogi said that he was a legal advisor for Speak Asia, not a single official from the company was present at the press conference.

We learn from our investigations and Speak Asia officials have also confirmed that the company is not registered in India and does not have any establishment or office in the country.

According to a PTI report, the Ministry of Corporate Affairs (MCA) said it could not investigate the Singapore-based multi-level marketing (MLM) company as it is not registered in India. "Speak Asia is not registered in India so we cannot do any investigation against it. MCA does not have any database of the company," corporate affairs secretary DK Mittal told reporters in New Delhi. He also said that Speak Asia has not applied for registration with the ministry, PTI reported.

However, on Wednesday, Manoj Kumar, Speak Asia's chief executive, told reporters in Delhi that the company is in the process of seeking approval from the Registrar of Companies, the Reserve Bank of India and the Foreign Investment Promotion Board. This is in contrast with the company's stand throughout the past several months that it does not require any kind of permission, registration or licence from any Indian authority.

Since the company does not have any office in India, it is difficult to start proceedings against it, in case somebody wants to file a case. It becomes difficult to file a case in any police station as the company does not have any address in India and hence the police might refuse to lodge a complaint. According to Mr Saraogi, in such cases one can file a case from whatever location he or she is present and has accessed the website. Police can register a complaint based on the IP address location, he said.