SpeakAsia will have to return money to investors: Supreme Court orders
February 07, 2012
New Delhi, 7 February 2012
The Supreme Court of India today ordered that SpeakAsia will have to return money to its investors.
On a plea filed by a group of more than 100 investors of Speak Asia last year for recovering their monty, the Supreme Court bench of justices Dalveer Bhandari and Dipak Verma today directed SpeakAsia to deposit before it the amount payable to investors and concerned authorities. SC asked the mediator, appointed by it earlier, to ascertain the exact amount which is payable by Speak Asia to the investors and other authorities and directed the company to deposit the same within two weeks after that.
Singapore-based firm SpeakAsia is accused of duping investors to the tune of Rs 1,300 crore.
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