The Economic Offences Wing (EOW) filed a stay application in the Apex Court, seeking to freeze the Solomon James writ 383 case against Speak Asia. This civil case, lodged in the Supreme Court, focuses on the recovery of money from the company. Senior panelists within Speak Asia have long asserted this writ would determine the company's fate across all fronts.
Civil cases related to money recovery rarely impact criminal investigations. Speak Asia and the All India SpeakAisa Panelist Association (AISPA) have filed multiple petitions in various courts. These actions aim to quash First Information Reports (FIRs) lodged against the company. The company's legal strategy appears designed to negate criminal liability for what authorities describe as a large MLM fraud.
One such case, the Crasto writ 3611, previously initiated by AISPA, took an unexpected turn. Navniit Kkhosla, a named defendant, informed the court he had received his lost money. In light of this, Kkhosla stated he no longer wished to pursue the complaint.
Speak Asia, AISPA, and senior panelists presented this development as an FIR withdrawal, suggesting a significant obstacle had been overcome. The March 15th writ 3611 case order, made public shortly after, revealed a different scenario.
The order confirmed Kkhosla indeed received his invested sum. This money, 606,000 INR ($12,000 USD), was reportedly paid by "gullible members" of Speak Asia. AISPA had contacted its members, soliciting these funds, rather than Speak Asia directly providing the payout.
The March 15th order also included information from the public prosecutor. The prosecutor informed the court about the EOW's stay application in the Apex Court. This application was scheduled for a hearing on March 22, 2012. A stay application is a court ruling that halts further legal process in a trial. Courts can lift a stay to resume proceedings, but it can also postpone them indefinitely.
The EOW's application suggests authorities believe they have developed a sufficiently strong criminal case against Speak Asia. This action indicates a desire to halt the Solomon James civil writ, which has involved secret mediation meetings discussing money payments.