Market research company Speak Asia has stopped payouts to its vendors, clients and staff. In a letter to its members, Speak Asia says payments cannot be processed since its bank accounts in Singapore have been frozen.
CNN-IBN had first reported how the market research agency is under the scanner for allegedly misleading subscribers.
The Ministry of Company Affairs has ordered a probe into the company and its practices.
Speak Asia has said it will approach the Supreme Court against the action.
Government sources, however have said that Speak Asia is not registered in India and there is no question of taking any action against the company. Speak Asia is registered in Cayman Islands, sources said.
Prominent lawyer Ashok Saroagi took up the case soon after the controversy broke out.
Following is the video of Full Report by Star news on Speak Asia online:-
Full Report Here:- http://adf.ly/1d6lB
All accounts of survey and research company Speak Asia have been frozen by UOB Bank of Singapore in India and Singapore. The company is facing serious allegations of fraud and running ponzi operations.
All accounts of survey and research company Speak Asia have been frozen by UOB Bank of Singapore in India and Singapore. The company is facing serious allegations of fraud and running ponzi operations.
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