Tuesday, 19 July 2011

Mumbai High Court DISPOSE Case on Speak Asia Online - 14 July 2011

The Company is legally very very strong and hired one of the best legal firms in India, 
A. K. Singh & Associates, New Delhi. It has not violated any law of the land till date that is why standing on a firm legal ground and 100% sure to win this lengthy battle.
The honorable High Court of Hyderabad [restrained harassment or arrest of any official or employee of our Company against a complaint made by an NGO (Criminal Petition 5626/2011)] and the Honorable High Court of Bombay [directing the Reserve Bank of India to give SAOL a hearing to understand its business model "expeditiously" (Writ Petition (L) No. 1365/ 2011 - SAOL & Ors. vs. Reserve Bank of India). ],
has passed the respective judgments in favor of SAOL



High Court of Judicature at Bombay Speakasia 14July2011

Bombay High Court SpeakAsia Petition 1365-2011


In Indian Direct Selling history it is the first time when Ministry Of Company Affairs(MCA),
Registrar Of Companies(ROC), Reserve Bank Of India(RBI) and other Government institutions
have been forced to look into the matter and issue a clear cut guideline for this industry.

As said in the pop up media, NGOs and others are able to harass SAOL just because
there is no law in our country regulating direct selling industry perfectly.

There is only one law enacted which throws some light on this industry and that is
"Mischief Of Prize Chit Fund And Money Circulation Act, 1978".

This law dates back to year 1978 and is unable to handle the issues in direct
selling industry arising particularly after the pace became very fast because of Internet.

According to the Companies Act [sec.591 (1)], any company incorporated outside India which has an
established place of business in India is a foreign company.
The place owned by it, is considered as an established place if it is a particular place at
which it conducts its business activities. An office, warehouse, godown are examples of
an established place. Under section 591 (2) of the Companies Act, a foreign company is
considered as an Indian company when a minimum of 50 percent of its paid–up share
capital is owned by one or more Indian citizens or companies, solely or in partnership.

14th July 2011 को  स्पेअकसिया  ने  मुंबई  हाई  कोर्ट  मे  पेतितिओं  दी  के  रबी  को  कोर्ट  दीरेक्ट  
करे  के  स्पेअकसिया  का  बिज़नस  मॉडल  समझे  और  इसके  बाद  इनके  अच्कोउन्ट्स  उन्फ्रीज़े  करे .
मुंबई  हाई  कोर्ट  ने  पहले  ही  दिन  इनकी  अप्पाल  को  DISPOSE (ख़ारिज ) कर  दिया 

14th जुलाई  आर्डर , नो  रबी  विल  नोट  बे  टोल्ड  तो  लुक  at थे  बिज़नस  मॉडल  ऑफ़  स्पेअकसिया , 
मतलब  स्पेअकसिया  को  14th   जुलाई  को  पता  चल  गया  था  कोर्ट  के  आर्डर  का  पर  इन्होने  कल  पॉपअप  मे  झूट  बोला  के  मुंबई  हाई  कोर्ट  जायेंगे .
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