IBNLive, 27 May 2011Mumbai: Market research company Speak Asia has stopped payouts to its vendors, clients and staff. In a letter to its members, Speak Asia says payments cannot be processed since its bank accounts in Singapore have been frozen.
Speak Asia has said it will approach the Supreme Court against the action.
Government sources, however have said that Speak Asia is not registered in India and there is no question of taking any action against the company. Speak Asia is registered in Cayman Islands, sources said. Full story
Related:
Speak Asia to move court against bank accounts' freezing - Business Standard
Speak Asia to move Supreme Court against accounts-freezing - Real Time News India
Singapore bank freezes Speak Asia accounts - India Today
Speak Asia clarifies on freezing of bank accounts - India Infoline
Singapore bank closes accounts of Speak Asia - The Hindu
Singapore bank closes 2 accounts of Speak Asia - Indian Express
Speak Asia bank a/c closed - Ahmedabad Mirror
