Indian authorities delivered a 5000-page chargesheet against Speak Asia on December 16th, culminating two and a half years of investigation. The company repeatedly attempted to obstruct the probe at both judicial and local levels.

B.P. Shelke, the investigating officer, confirmed charges included forgery, criminal conspiracy, and cheating. These fall under the Indian Penal Code and the Prize Chit and Money Circulation Banning Act. Conviction carries a maximum penalty of seven years in jail.

The extensive document names individuals like Tarak Bajpai, a director at Tulsiyat Tek, and Rajiv Mehrotra, a prime franchisee for SpeakAsia. Panelists Ashish Dandekar, Raeesh Shaikh, Rahul Shah, and Sanjiv Dandona also appear. Eight companies face charges: SpeakAsia Online, Haren Ventures Pvt Ltd, Tulsiyat Tek, Tulsient Info System, Kritanj Management and Allied Services, Seamless Outsourcing, Seven Rings Education, and Seven Rings International.

Shelke explained the chargesheet compiles all collected evidence from a lengthy probe. Funds were gathered in India, then laundered through Dubai and other nations. This international money trail extended the time needed for filing. The EOW's chargesheet demands considerable review due to its volume.

EOW chief Rajvardhan Sinha stated that more filings are expected. "We will be filing supplementary charge sheets too," Sinha said.

Police have issued look-out notices for several wanted individuals. These include Manoj Kumar Sharma, SpeakAsia's India CEO; Ramnivas Pal, a promoter; and Harendar Kaur, the global head. Notices are active at all airports, ensuring their detention if they attempt border crossing. Charges against mastermind Ram Sumiran Pal and his brother, Ram Niwas, are slated for later filing by EOW officers. Some observers suggest airport notices may be insufficient, as Speak Asia management reportedly favors escaping to Nepal by train.

Ashok Bahirwani, representing the Kumar camp, issued a statement detailing the chargesheet's filing. "The EOW, in pursuance to the Bombay HC order in WP 1127, has filed the Charge Sheet in FIR 60," Bahirwani announced. He noted the filing occurred December 16, 2013, around 4:45 PM in Magistrate Mrs Shinde's courtroom at Esplanade Court, concluding with "CONGRATULATIONS !!" Only in Ponzi schemes do charges of forgery, criminal conspiracy, and cheating merit congratulations.