New Delhi: Multi-level marketing company Speak Asia on Tuesday said it has received funds from Singapore-based United Overseas Bank, which closed the entity's account last month.
"We wish to also inform that more than $16 million is available for use and disbursal as soon as a new account is opened and the banking partner is identified," Speak Asia said in a statement.
"We have begun preparing for disbursal of these funds to our panelists once the strictures put by some banks on transfer and payment are withdrawn," it said.
The company, whose membership fee is Rs 11,000, claims that it has 19 lakh members in India. It allows its members to conduct some surveys online for the firm. Members are paid for conducting the surveys and it is believed that Rs 11,000 investment could be recovered within three months.
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