Dear Speak Asians,
Kindly go through the following link to watch the interview of the Ministry of Corporate Affairs Minister, Mr.Virappa Moily on CNBC News channel :
Following points are noteworthy in this interview:
* There is lot of activity going on in concerned government offices and ministries for the regulation of Network Marketing/Direct Selling business, particularly the online ones.
* As per Mr. Virappa Moily's interview in this video the investigation report of the Serious Fraud Investigation Office (SFIO), New Delhi, to whom the MCA had referred the case of Speak Asia, is expected in 1 or 2 days.
* The Government is formulating some sort of guideline or law to regulate the online survey business in India. Starting a business will become impossible for the Online Companies which are not registered in India as per the Companies Act,1956.
* Off late but this time Government is determined this time to make sure that the interest of small investors in these types of Companies are safeguarded.
* As far as Speak Asia's fate is concerned this coming week will be very crucial. Investigation reports from key offices and judgement from court is expected to come which will decide the future course of action of the Company. So far things are going in favor of SAOL and it is expected to get clean chit from the concerned offices and start its normal operations soon.
Kindly go through the following link to watch the interview of the Ministry of Corporate Affairs Minister, Mr.Virappa Moily on CNBC News channel :
Following points are noteworthy in this interview:
* There is lot of activity going on in concerned government offices and ministries for the regulation of Network Marketing/Direct Selling business, particularly the online ones.
* As per Mr. Virappa Moily's interview in this video the investigation report of the Serious Fraud Investigation Office (SFIO), New Delhi, to whom the MCA had referred the case of Speak Asia, is expected in 1 or 2 days.
* The Government is formulating some sort of guideline or law to regulate the online survey business in India. Starting a business will become impossible for the Online Companies which are not registered in India as per the Companies Act,1956.
* Off late but this time Government is determined this time to make sure that the interest of small investors in these types of Companies are safeguarded.
* As far as Speak Asia's fate is concerned this coming week will be very crucial. Investigation reports from key offices and judgement from court is expected to come which will decide the future course of action of the Company. So far things are going in favor of SAOL and it is expected to get clean chit from the concerned offices and start its normal operations soon.
