Team AISPA Update: 17th April, 2013
We once again bring to you the current situation in the Speakasia matter as below:
SLP (cri) 3130/2013 in the Hon’ble Supreme Court of India arising out of the Disposal of ABA 1083/2012 In the Hon’ble Bombay High Court:
The Anticipatory Bail Application of our secretary Mr. Ashok Bahirwani was heard on 19th March, 2013. The ABA has been dismissed and the detailed order was uploaded on 4th April, 2013 and is available for view on the website of the Hon’ble Bombay High Court:
Mr. Bahirwani however had been provided an opportunity to approach the Supreme Court. The undertaking given by the Special Public Prosecutor that Mr. Bahirwani will not be arrested to continue till 12th April, 2013.
Consequently an SLP (Criminal) was preferred in the Hon’ble SC and the same was heard on 12th April, 2013 and it was ordered that the “Interim protection is granted, till further orders”.
The said order can be viewed on the website of the Hon’ble Supreme Court:http://courtnic.nic.in/supremecourt/temp/3130201321242013p.txt
Pertinent to note here is that under an order dated 7th December, 2012 of the Hon’ble High court the company was served a notice to come before the Hon’ble court and explain the business model, pursuant to which the company submitted an exhaustive affidavit running into hundreds of pages.
We wish to reproduce some paragraphs from the said Affidavit as under:
“Speakasia at all times, despite various criminal cases having been registered against them maintained the stand that they are ready and willing to make payments to those who have opted for exit option. Such an endeavor could be seen from i) various correspondences written to all central and state government authorities ii) various correspondences written to Reserve bank of India iii) submissions before the Hon’ble Justice R C Lahoti iv) deposit of 10 Million US Dollars with the Supreme Court of India;
Above all, the Company is still ready and willing to fulfill its obligations towards the Panelists who have opted for exit option
The complainant in the present C.R. No. 60 of 2011 dated July 28, 2011 i.e. Navnit Khosla, as understood by us, have received his entire dues and also has filed an Affidavit before this Hon’ble High Court that he does not want to pursue his complaint any further;
In any event, strictly without prejudice to the above, there is no question of Speakasia and/or its officials having committed cheating or criminal breach of trust particularly when they are still ready and willing to cooperate with the authorities and fulfill its obligations under the Exit Option; and
It is only due to inappropriate and unfitting actions taken by various authorities arbitrarily and in haste without granting any opportunity to Speakasia, just keeping in mind negative media campaign, the present situation has arisen where Lacs of Panelists are not even able to receive the money which is due and payable to them “
ABA 174/2013 In the Sessions Court, Mumbai: This is the Anticipatory Bail Application of Mr. Aman Azad aka Vivek Roopchand Sharma.
This Application will now be heard on 18th April, 2013.
The involving of Mr. Ashok Bahirwani and Mr. Aman Azad by the EOW as accused persons and the arrest of Mr. Melwyn Crasto in November 2011 clearly exposes the EOW’s intention of harassing the panelists connected and working actively for AISPA.
This act of the EOW against AISPA is an absolute high handed behaviour on the part of the authorities whose only objective in this could be to stifle the voice of the panelists and to harm the unity of us Speakasians.
What we cannot understand is why the authorities would want to harm us the Panelists as we are only fighting for our monies to be refunded back to us. In fact the authorities like the EOW should also be interested in this as this is the only larger PUBLIC INTEREST to ensure that the monies of the small and marginal investor is safeguarded and returned to them.