Economic offence Wings, Mumbai Branch is going to submit their report to RBI and other dept. of Govt against SAOL, they have gathered some complaints against SAOL payments, most of them complaints that they are not getting payment after 13th May 2011, According SAOL lawyer this complaints has no issue, because SAOL could not give any payment to their panelist after 13th May 2011. because of Singapore base Bank, who freezed their money according to RBI’s circulation. SAOL lawyer seems to be confident that they will win this battle but may have to give huge penalty for starting business without registration (permanent establishment) in India by SAOL.
EoW’s main point is “how the money come?” They are trying to establish that SAOL has no Survey clients. Till now, there are no evidences provided by SAOL to EoW regarding this survey income. They are saying that new members money gives to old members which means it is a money circulation scheme. EoW could take one more time from the court to get more complaints.
eBizToppers have found some news from reliable source that, SAOL lawyers may submit their Non Disclosure agreement to EOW regarding the clients they stated before. If SAOL could prove that they have genuine Clients (Survey) those who are really working with them then it will be proved that SAOL is not a money circulation scheme. Otherwise they will have to give a huge amount of penalty to do business in India.
Govt officials are really concerned about the SAOL panelist recent activities, or their demand in all over India. Some sources said that Govt could give SAOL a chance to do business in Indian with following two conditions-
1. SAOL have to do business with product base. and
2. SAOL have to do business with PE in India.
From the high officials of SAOL, they already accepted these conditions, and the business model of the SAOL already submitted to all departments of Govt. agencies.
It is a good news for all SAOL panelist that with the 12th August 2011, there might be a FINAL decision awaiting for them.
EoW’s main point is “how the money come?” They are trying to establish that SAOL has no Survey clients. Till now, there are no evidences provided by SAOL to EoW regarding this survey income. They are saying that new members money gives to old members which means it is a money circulation scheme. EoW could take one more time from the court to get more complaints.
eBizToppers have found some news from reliable source that, SAOL lawyers may submit their Non Disclosure agreement to EOW regarding the clients they stated before. If SAOL could prove that they have genuine Clients (Survey) those who are really working with them then it will be proved that SAOL is not a money circulation scheme. Otherwise they will have to give a huge amount of penalty to do business in India.
Govt officials are really concerned about the SAOL panelist recent activities, or their demand in all over India. Some sources said that Govt could give SAOL a chance to do business in Indian with following two conditions-
1. SAOL have to do business with product base. and
2. SAOL have to do business with PE in India.
From the high officials of SAOL, they already accepted these conditions, and the business model of the SAOL already submitted to all departments of Govt. agencies.
It is a good news for all SAOL panelist that with the 12th August 2011, there might be a FINAL decision awaiting for them.
