Tarak Bajpai, the COO of Speak Asia, has been arrested under various sections of the Indian Penal Code for cheating and conspiracy as well as section 3 , 4, and 5 of the Money Circulation Act 1978. Toral Varia reports...

Bajpai's arrest comes after the Bombay High Court had a discussion with the additional commissioner of police Rajvardhan in response to a public interest litigation demanding action against the management of Speak Asia.

Speak Asia, originally registered in Singapore, does not have a single office in India and is reportedly owned by Singapore-based Harinder Kaur. It is not even legally registered in India. Yet, the company built a client base of over 19 lakh members, who paid a subscription in multiples of Rs 11,000, but have not been reimbursed for the last two months. 

The company would request members to initially enroll with Speak Asia's online survey by paying an initial amount of Rs 11,000. The members were expected to fill online surveys and submit it online.

For every form filled and submitted, the client was paid Rs 200, while two forms filled earned Rs 1000.

The company promised that in four weeks the client would be paid Rs 4000 and in 12 months about Rs 48,000.

Bajpai, was arrested this morning from Indore, apart from Vivek Gautam, the chief marketing officer, and Kumar, who is the chief executive officer.