Good Evening Speakasians,
Re: Explanation of the EXIT OPTION:
Herein under is reproduced the EXIT OPTION as it appears on www.speakasiamarketing.com and under each scenario is an attempt to try and explain the scenario in simple words. I hope this will help the Panelists who have some confusion.
- NO Reward points (henceforth referred as RP ) earned after becoming a panelist:
If you have recently subscribed to the E-Zine and have not participated in any of the SAOL activities or no RP's have been credited in your account then you can opt out of your association with SAOL by agreeing to these terms and conditions and filling up the attached form. By doing so you will a refund of your entire subscription cost less the registration amount to your bank account mentioned in your profile. The e-zine subscription shall cease to be sent to your mail ID and you will no longer be associated with SAOL.
- RP's Earned lesser than Subscription Cost:
In case you have en-cashed or used RP's, whose total value is less than the subscription cost, these RP's shall be deducted from the cost of subscription and the balance will be credited in to your bank account. The ezine subscription will later cease to be sent to your mail ID and you will no longer be associated with SAOL.
Again this is abundantly clear that if you have earned some part of your subscription cost e.g. if you have joined Speakasia by subscribing say to only one panel and hence you have paid Rs. 10000/- and say you have withdrawn 4000/- by whatever means either by bank request or by way of transfer of RP to another account or by way of generating pins etc then you will be eligible for a refund of Rs. 6000/- i.e. Rs. 10000/- minus Rs. 4000/- which you have earned and as such you are eligible for a refund of Rs. 6000/-
- RP's en-cashed or used are more than subscription cost:
You are welcome to participate in SAOL website since your participation has earned your RP's more than your subscription cost. You can now utilize the RPs for various revenue generating activities of the company once restart of our services is allowed in India.
We have explained the above examples by taking into subscription cost of Rs. 10000/- and not taken into account the Rs. 1000/- registration cost.
Disclaimer: This explanation is as I understand. Because it deals with explaining an official document of the company SAOL the final word lies with the company and all clarifications will be subject to the company’s final interpretation and decision. I or AISPA cannot be held responsible in any way for the above interpretation and explanation of the EXIT Policy.
Some Panelists have raised a few questions and I try and answer them as under:
Ques) Which site does the panelist go to resister his/her EXIT OPTION?
Ans) The Panelist has to visit www.speakasiamarketing.com and fill up the EXIT Application form on this site. Please remember that the company is only collecting data as of now. Once the company gets back the website from the authorities (This is inevitable) the company will confirm the details with each of the exiting panelist and on confirmation from the panelist the EXIT payments will be affected. The Website has been active for applying for EXIT since it was launched and will accept EXIT applications till 31st March 2012.
Ques) If a panelist had submitted the EXIT Application Form earlier but does not want to effect the EXIT, how does he cancel the same.
Ans) As explained above once the company starts confirming the EXIT from the panelists that is the time when the panelist can cancel his EXIT.
Ques) If a Panelist has not updated his bank details can he opt for the EXIT OPTION?
Ans) Yes he can. If you see the EXIT Application form it does not ask for the banking details. As explained earlier this is only a data collecting phase and the company will get into the banking details only when the Website comes into its possession. The banking details will have to be given but that will be in the final phase of EXIT and the panelist will be given an opportunity to upgrade their account details.
Ques) When will the Exit payments start?
Ans) If you carefully read the Supreme Court Order of 6th February, 2012 you will realize that the Hon’ble Supreme Court has requested Hon’ble Mediator to ascertain the total outstanding due and payable to the panelists. Once the entire EXIT OPTION is completed on 31st March, 2012 the Hon’ble Mediator in consultation with the company will ascertain the entire dues of all the panelists who have finally opted for the EXIT OPTION.
On such an ascertainment by the mediator and if required the company will be asked to bring in further additional funds, please read the communication from the marketing team on the company blog spot, the company has clearly informed us that they are willing and ready to bring in additional funds if it is so required.
We wish to remind this entire family that it is not only the 50 crores which is in question there is an additional approx 140 crores laying seized on the shores of the country which also belongs to the Panelists. In our assessment the total fund of approx 190 crores (140+50) is more than sufficient to take care of the payments to the EXIT OPTION and to satisfy any enforceable statutory dues of the Govt.
Ques) How will the EXIT OPTION be effected in the absence of the SAOL Website?
Ans) You are correct that in the final analysis to affect payments the Website will have to be activated. I am sure the company officials and the judiciary will take proper steps to see this happens at the earliest.
Ques) An Interesting question raised by a Panelist is that he has generated a pin from his RP but has not used the same. How much refund he will get, if he takes the EXIT?
Ans) Indeed an Interesting question in my opinion the Company should give him the refund without deducting the cost of the pin generated by him. Such questions are what will be addressed through AISPA once the business restarts. AISPA will serve us an interface between the Panelists and the Company Management.
Some of us have raised a question that the time gap upto 31st March is rather long. We wish to say that sufficient time needs to be given when ever such notices are given. These time periods are decided by the judiciary and are subject to laid out norms and precedents.
Like I have requested in my update of 1st March, 2012 although we should be interested in the progress and the final outcome, time has come when we Speakasians should and must extract ourselves from the nitty grities of the matter and minute details should be left to the Company officials and the legal team.
All in all a milestone announcement by the company, which should make us proud of our association with a company, who has by now proved itself and about its intention to stand up and fight for our interest and rights.
With this explanatory update I pray that most of the queries of the panelists may have been answered if there still are any unanswered queries please feel free to post your questions on the Associations group on facebook and I will request the admins to answer them and in case they are unable to do so they will forward the same to me.
Our march towards final victory has begun and we are on our way to create a new corporate history in India.
I take the liberty and reproduce the last lines of the communication from the corporate marketing Team
“The end of our woes is near, and soon the new sun heralding brightness of our future will dawn”.
Continue to remain patient, Have faith, trust the company, remain united and stand shoulder to shoulder steadfastly behind the company.
Morya… Bhai Morya,
Jai Speakasia,
Jai Speakasia,
Jai Speakasia.
Ashok Bahirwani
Secretary
AISPA
