This note to all of you is to refute some reports in the media on the fate of the company’s petition in the Supreme Court of India. The Honorable court has not dismissed our petition nor has made any adverse remarks against the company. The petition filed was withdrawn with no consequence by the company on the advice from very senior legal counsels.
On their advice we have and are taking various steps to protect your immediate interests such execution of the exit policy, business as usual and the long-term interest of your company. Our legal team, which incidentally is one of the best in the country, has been working relentlessly in this direction. The opinion of all these eminent lawyers is that we have not done anything illegal or have contravened the law in any manner whatsoever. They have assured us that we should expect some respite by the 10th September 2011.
I personally request each one of you to stand by the company in this hour of need and help us resole the crises. We will only emerge stronger and greater from all this.
I will keep you posted of all developments as and when it happens.
With warm regards
Chairperson & CEO
Last Evening the Honorable Mumbai High Court rejected the extension of the police custody demand of the EOW Mumbai police. Mr. Tarak Bajpaye our COO and the others who were in police custody till now are in judicial custody as of last evening. This now paves the way to file for their bail application. Hearing for this bail application has been fixed for the next working day of Mumbai High Court i.e. August 16 , 2011.
Eminent lawyer, Mr Ahmed Abdi represented lacs of panelist and showed the Honorable court the signature campaign signed by vast number of speak asia panelist. This was to state to the Honorable Court that a huge number of panelist of SpeaAsia want the company to resume its normal work as soon as possible so that they can all go back to work.
The Company's lawyers also challenged the Police arrest of Mr. Rahul Shah on flimsy and very frivolous grounds. As a result of this his bail application would also be heard on August 16, 2011.
Friends This is a step towards resuming our aim of empowering every consumer in our great country.
Speak Asia Corporate Marketing Team.