Aava launches natural mineral water in Goa

 

The Ahmedabad-based Behram Mehta-promoted Sheelpe Enterprises has commercially launched Aava natural mineral water in Goa. In the first phase of the launch in Goa about 25 premium hotels, restaurants, clubs and fine dining restaurants on the Baga, Anjuna and Calangute Beach areas as well as at Bardez and Panjim now serve Aava natural mineral water, some of them on an exclusive basis. By end-February 2012, about 100 premium restaurants in Goa will serve Aava natural mineral water.

The fine dining restaurants and hotels already serving Aava include Titos, Brittos, Mambos, J&A Little Italy, East meets West, Charleston Hotel, Café Chocolatti, Souza Lobo, La Franza, Delfinos, Club Fresh,  House of Llyods, Nazri Resorts, Reiss, Bernad’s Place, Villa Bomfin and Top Nosh to name a few. Aava natural mineral water is also available for retail sale at Titos Super Market and Oxford Supermarket in Goa. The company plans to make Aava Natural Mineral Water available on retail at about 200 premium shops, supermarkets and stores in Goa by the end of February 2012. The MRP of the 1000 ml (1 litre) pack is Rs 23/- an invitation or launch price which is much lower than other competitors in similar product categories.

While the packaged drinking water market is about Rs 4000 crore it is growing at an average of 25 to 30 per cent each year. Comparatively the premium or fine waters segment is approximately valued at Rs 800-1000 crore but is growing much faster at about 40 per cent company research said. Through a special tie-up, Aava natural mineral water is sold exclusively at the Grand Hyatt and Ramada Group Goa. Grand Hyatt Goa consumes over 35,000 liters of Aava natural mineral water each month in various presentations like 200 ml, 500 ml and 1000 ml packs.

Aava natural mineral water is served on all Air India flights originating from six airports in India. It is also served on Spice Jet, Jet Airways, Jet lite, Ramada Group, ITC Welcome Group, Vadodara, ITC Grand Central, Mumbai, Fortune Landmark, Ahmedabad,  IIM Ahmedabad, Hotel Taj Ummed, Ahmedabad, Hotel Cama, CCI Club, Mumbai and at the Ambani School in Mumbai to name a few. In all Aava natural mineral water is available at over 200 star hotels in India.

Aava mineral water is available in cup-cap bottle, a one litre bottle with a drinking cup, useful for multiple drinkers; sports bottle (75 ml bottle with a unique ‘pull-push’ cap meant for sportsmen or for the gym); Aava mini, a 200 and 300 ml bottle with a regular twist cap and a 20 litre family pack.

Aava is confined aquifer water (sourced naturally from an underground spring) which is completely protected from natural as well as human contamination and it goes through 77 different tests before being bottled to ensure that it is free from harmful chemicals or microbiological organisms. Aava undergoes no chemical or artificial treatment and is 100 per cent natural.

Guess what Paris Hilton, Lindsay Lohan and other Hollywood celebs will be drinking very soon?

Our Bollywood film stars, businessmen and celebrities pride themselves with a bottle of the Rs 150-plus Swiss made Evian or USA-made Perrier. But do you know that the French love a water brand sourced in India. It’s true!!!

Mulshi Springs natural Spring Water is now officially sold in France and will be in the next few months exported to the rest of the European Union and Australia. Mulshi Springs finds pride of place in a swanky, exclusive restaurant and water bar called Colette in Paris. And for the skeptics, Colette is no small place, the clientele of Colette includes the who’s-who of the French fashion industry and the likes of the late Micheal Jackson, Paris Hilton, Lindsay Lohan, the late Princess Diana, Elizabeth Hurley to name a few who have savored the water brands at Colette. According to sources, Mulshi Springs is a bit hit at Colette which houses some of the best brands of water in the World.

Indian natural spring water brand Mulshi Springs will be the first Indian fine water to be exported to the European Union and France, say sources. CEO of Mulshi Springs, Naveen Luthra said that Mulshi Springs is already available at Colette which is a water bar and fine dining restaurant, part of an upscale, trendy retail shop in Paris. “We introduced Mulshi Springs at Colette on a test basis in March 2011. We have had a great response and will be commercially exporting Mulshi Springs to Europe and most probably the United States as well by end of this year.”

Mulshi Springs is the only Asian fine water to be certified for import by the Water Authorities or Boards in the EU, USA and Australian and the only Asian fine water which meets the stringent standards of the USA for Natural Spring Water. It is a very light water with a very low TDS (Total Dissolved Solids) and is very good for re-hydration.

Mulshi Springs is obtained naturally and bottled directly at source without any chemical processing or artificial flavouring. It is sourced from the biological hotspot of the Sahayadri ghat region about 100 kilometers away from Lonavala. India is proud to boast of a world-renowned brand like Mulshi Springs. According to French magazine Gayot, Mulshi Springs is the only water in the world sourced from a biological hotspot, the purest area on Earth, Mulshi Springs is the only Indian water which meets all U.S., European Union, and other international water standards. The source of Mulshi Springs is approximately 1,500,000 years old located in the Sayhadri Mountains of India, far removed from civilization in a pollutant-free region 600 meters above sea level in the heart of Indian rain forests. The spring is filtered through natural elements which protect the water from harmful bacteria and ensure the water’s integrity. Mulshi Springs is also certified to be completely pesticide-free. There is no industrial activity and have never been for about 6000 kilometers from the source of Mulshi Springs, which makes it pristine and naturally pure.

Wine Making in India: a Rs 3000 crore business?

Thanks to growing consumption of wines in India and a spurt in consumption primarily by women over the last one year, the Wine Making Industry in India is expected to touch Rs 3000 crore by 2013, says a research report by Mumbaiwire.in – a research and content syndication agency.

n earlier wine industry study by Assocham had earlier pegged the turnover toA reach Rs 2700 by 2012. The MumbaiWire.in study is more optimistic and has taken into consideration a recent spurt in consumption of locally made wines and ‘home-made wines’. The other reason for the spurt in demand and consumption are the favourable government policies including taxation, said Flynn Remedios, editor of Mumbaiwire.in.

The Assocham study had listed consumption of wine in the country to grow by 35 per cent from 4.6 million litres in 2008 to 14.7 million litres in 2012. The MumbaiWire.in report pegs this growth to be in the range of 40 per cent with volumes touching almost 17 million litres. Goa has seen an upward growth in the consumption pattern over the last three months. Normally Goa was the third or fourth in terms of consumption in India with Mumbai topping the list of cities consuming the maximum amount of wine in India. Mumbai still retains its top position but Goa and Delhi share the second place.

A lot of wine consumed in markets like Goa and South India is in the ‘home-made category’ and unfortunately does not figure in official sales reports, opined Flynn Remedios. Indians prefer Red Wine to White and sparkling wine though preferences seem to be changing. In 2008 only two percent of India made for the wine consuming population in the country. This figure is expected to rise to 12 per cent by end-2012 and may touch 15 per cent by 2013 thanks to cheaper brands available more freely and easily.

Almost 45 per cent of wine consumption in India is by women and this is growing each year, adds Flynn Remedios, saying that the increase in consumption of Indian wines is much higher than that of international brands.

Pesticides in bottled water adding to male infertility and impotence in India.

A MUMBAIWIRE.IN SPECIAL REPORT

A report by watchdog NGO Environment Health News of USA may have starling news for Indian consumers. Many agricultural pesticides which are found in many bottled waters in India – though in very minor quantities – including some previously untested and commonly found in vegetables and fruits, disrupt male hormones, according to new tests conducted by British scientists.

These pesticides when consumed even in very trace or minor quantities over a long period of time can contribute to low sperm count, infertility and affect the male reproductive health leading to impotence. Says Naveen Luthra, CEO, Mulshi Springs and an expert on bottled water in India, “Everyday thousands of Indians consume bottled water from unknown and unheard of brands snug in the belief that they are drinking ‘clean and pure water’. This misconception and false ‘trust’ is slowly but surely ‘killing’ the reproductive systems of the Indian male populace.”

According to Luthra, whose company Mulshi Springs – one of India’s few internationally certified natural spring waters leads and supports research on the pesticide content in Indian drinking water , “The government should make periodic, routine and surprise checking mandatory if it really cares about the reproductive health of the nation. The amount of pesticides Indian consumers imbibe over a period of time is surprising and this is a bigger problem in cities rather than villages.”

The USA-based NGO researchers in their report strongly recommended that all pesticides in use today be screened to check if they block testosterone, which is critical to male reproductive health. Thirty out of 37 pesticides tested by the University of London altered male hormones, including 16 that had no known hormonal activity until now. Most are fungicides applied to fruit and vegetable crops, including strawberries, lettuce, oranges, bananas, etc.

“This study indicates that, not surprisingly, there are many other endocrine disruptors that we have not yet identified or know very little about,” said Emily Barrett, a University of Rochester scientist who was not involved in the study and helped prepare the report.

The findings come as the EPA faces opposition from the pesticide industry after expanding its Endocrine Disruptor Screening Program, which requires testing of about 200 chemicals found in food and drinking water to see if they interfere with estrogen, androgens or thyroid hormones.

Many agricultural pesticides – including some previously untested and commonly found in food  – disrupt male hormones, according to new tests conducted by British scientists.

The scientists strongly recommended that all pesticides in use today be screened to check if they block testosterone and other androgens, the hormones critical to a healthy reproductive system for men and boys.

“Our results indicate that systematic testing for anti-androgenic activity of currently used pesticides is urgently required,” wrote the scientists from University of London’s Centre for Toxicology, led by Professor Andreas Kortenkamp. Coincidently most of the pesticides and coloring agents mentioned in the EPA report are widely used in India and are largely unregulated, opines Naveen Luthra, adding that most bottled waters and even soft drinks contain pesticides in India.

Thirty out of 37 widely used pesticides tested by the group blocked or mimicked male hormones. Sixteen of the 30 had no known hormonal activity until now, while there was some previous evidence for the other 14, according to the report, published last Thursday in the scientific journal Environmental Health Perspectives. Most of the newly discovered hormone disruptors are fungicides applied to fruit and vegetable crops, including strawberries, oranges, sweet limes and even bananas. Traces of the chemicals remain in foods and enter the human digestive system.

The British researchers screened the chemicals using in-vitro assays, which use human cells to check whether the pesticides activate or inhibit hormone receptors in cells that turn genes on and off. They are a widely accepted lab technique. Scientists, however, are uncertain what actually happens in the human body at the concentrations of chemicals that people encounter in fruits and vegetables.

Some research has linked pesticides to abnormal genitals in baby boys, such as cryptorchidism and hypospadias, and decreased sperm counts in men. Male fertility is thought to be declining in many countries and India tops the list. Testicular cancer is also increasing, says the report. Some scientists have dubbed this compilation of male disorders “testicular dysgenesis syndrome,” and suggested that hormone-disrupting environmental contaminants play a role.

Fetuses and infants may be particularly at risk when exposed in the womb or through breast milk because hormones control masculinization of the reproductive tract. R. Thomas  Zoeller, chair of the biology department at the University of Massachusetts.

 “It is telling us that the pesticides most prevalent in the human population have effects on the androgen receptor,” said Zoeller, who directs the university’s Laboratory of Molecular, Cellular and Developmental Endocrinology.

“Considering all the evidence that human male reproduction is exhibiting troubling secular trends (sperm count and quality, hypospadias, cryptorchidism, testis cancer), this is highly troubling,” he said.

The researchers noted “a clear disparity” between today’s most widely used pesticides and the current knowledge of their risks, “with the majority of the published literature focused on pesticides that are no longer registered for use in developed countries.”

Of the tested compounds, the most potent in terms of blocking androgens was the insecticide fenitrothion, an organophosphate insecticide used on orchard fruits, grains, rice, vegetables and other crops.

Others with hormonal activity include fludioxonil, fenhexamid, dimethomorph and imazalil, which are all fungicides. Fungicides are often applied close to harvest, so they are frequently found as residue in food. Some are new compounds which have been used for only a few years.

Fungicides “are typically applied as mixtures in order to increase effectiveness and prevent development of resistant strains and therefore, human exposure to mixtures of these in vitro anti-androgens may be considerable,” wrote Kortenkamp and the other study authors, Frances Orton, Erika Rosivatz and Martin Scholze.

Of the tested compounds, the most potent in terms of blocking androgens was the insecticide fenitrothion, an organophosphate insecticide used on orchard fruits, grains, rice, vegetables and other crops. For six of the pesticides that showed hormonal activity for the first time, the authors said they “strongly recommend” the next round of testing, using lab animals. “Due to estimated anti-androgenic potency, current use, estimated exposure, and lack of previous data, we strongly recommend that dimethomorph, fludioxonil, fenhexamid, imazalil, ortho-phenylphenol and pirimiphos-methyl be tested for anti-androgenic effects in vivo.”

“We at Mulshi Springs are committed to provide fine drinking water, spring water and bottled water with absolutely zero pesticide content. Mulshi Springs is the only water available in India which is completely and 100 per cent pesticide free. Unfortunately, the same is not true for thousands of other brands, some of them even well-known and respectable brands,” explains Luthra.

(Adapted from the EPA report and EH News by Flynn Remedios)

Average vacancy in Nariman Point could rise to 30 per cent in the next 18 months, says MumbaiWire.in survey

Many owners and speculators desperate to exit Nariman Point, MumbaiWire.in finds out.

With many landlords, businessmen and corporate houses wanting to relocate and vacate their Nariman Point offices and with the growing lack of demand for office space in Nariman Point for a variety of reasons, the vacancy ratio could rise to over 30 per cent in the next 18 months, says a MumbaiWire.in survey and report titled “Nariman Point is Dying”. The survey was conducted by city-centric news blog MumbaiWire.in and co-ordinated by journalist and analyst Flynn Remedios who has covered the real-estate sector in Mumbai for almost two decades. “We interviewed about 200 consultants, property owners, societies and about 100 corporate houses before arriving at these conclusions, explains Flynn Remedios, adding that though the current official average vacancy rate in Nariman Point is 19-20 per cent, the unofficial vacancy rate is about 23-25 per cent.” The official vacancy in Maker Chambers VI is about 90,000 sq ft or about 40 per cent, while in Maker IV, Maker V and Nariman Bhavan is over 20 per cent. Hochest House and Nirmal have a vacany of about 25 per cent each,” says Remedios.

Says Ajoykaant Ruia, chairman, All State Group which has substantial investments in property in the Nariman Point area, “The high BMC taxes are one of the main reasons why new SMEs do not want to set up shop in Nariman Point which was once upon a time, the star attraction of not just Mumbai but the whole of India.”

E Jayashree Kurup, Head – Content and Research at MagicBricks.com of the Times Business Solutions Ltd opines that redevelopment is one of the solutions, but the initiative must come from the owners and building societies. “Nariman Point is surely dying,” was the gist of Kurup’s inputs and the high BMC taxes and lack of political will to create superfast transport solutions from other ends of the city and suburbs are some of the reasons for this,” explained Kurup.

Many corporates who own chunks of real estate in Nariman Point and other property owners do not want to reveal the exact vacancy figures for fear of creating a panic situation causing a cascading effect that could see property and rent rates in Nariman Point going into a further downward spiral. The http://www.MumbaiWire.in survey findings and detailed report that will be released next week could be an eye-opener for all concerned – the government, BMC, property owners as well as prospective buyers or speculators. “Our report is bound to shock many, but we hope those concerned take remedial measures before it’s too late,” said Remedios.

 – Excerpt from the MumbaiWire.in report titled “Nariman Point is Dying”

BloombergUTV announces 10 finalists for THE PITCH Season 2.0

BloombergUTV announces 10 finalists for THE PITCH Season 2.0

Rahul Bose to host the show

Mumbai, November 01, 2011: BloombergUTV, India’s premier business news channel, today announced the 10 finalists for SEASON 2.0 of THE PITCH. India’s Biggest Business Reality Show-THE PITCH is scheduled to go on air in the first week of November and will be hosted by acclaimed actor Rahul Bose. Following the stature of icons like Rahul Bajaj, Kishore Biyani, Niranjan Hiranandani and YC Deveshwar among others from the first season, the current season will also see some of India’ s most prolific business leaders designing and assigning challenging tasks for the finalists. The one entrepreneur who survives these grueling tasks, and makes it to the end will receive funding of upto Rs. 5 crores, from the Mumbai Angels, to execute their business plan.

Rahul Bose, noted actor and the host for THE PITCH Season 2.0, speaking on the occasion said, “While the Pitch will be very different from whatever I’ve done before, given my past in advertising and my present in running an NGO, it’s something I’m only too familiar with. I look forward to listening to the country’s best business minds share their acumen, but most of all I look forward to getting to know the ten most deserving entrepreneurs in a country that undeniably has the most entrepreneurial energy on earth.”

BloombergUTV received business plans from aspirants in different walks of life across the country, ranging from doctors and engineers to students, housewives, salesmen, agriculturists, social service workers and even Indians living abroad. Although, not qualified to participate, entries were even received from nationals of foreign countries like Poland, Malaysia and Uzbekistan who heard about The Pitch on the internet.

Following the nationwide call-for-entries, about 100 potential aspirants were called to Mumbai to make their Elevator Pitch before a highly-renowned jury comprising entrepreneurs, business experts and investors. The jury evaluated the aspirants on the merit of their Elevator Pitch and their individual excellence, to identify the 10 finalists who will now appear on Season 2 of THE PITCH.

Mr. Deepak Lamba, Business Head – BloombergUTV, speaking on the occasion said, “The tremendous response for Season 2.0 of THE PITCH has proved that India has a significant pool of budding entrepreneurs and we at BloombergUTV remain firmly committed to pioneer the hunt for India’s next great entrepreneur.”

Each week on a fresh episode, a business icon will design and assign tasks to the participants which will challenge them on the most critical skills required to be a successful entrepreneur. The elimination of the weakest performer will see the most competent and deserving aspirant go on to receive the funding of up to Rs. 5crores from the investors.

As the anchor, Rahul Bose will not only explain the task to the viewers but also elaborate the rationale behind it, get reactions from the icons on the participants’ performance and be the viewer’s guide throughout the series.

Mr. Prashant Choksey, Co-Founder – Mumbai Angels, speaking on the occasion said, “Entrepreneurship is about innovation, ideas, imagination, passion and risk and, at Mumbai Angels; it is our primary objective to promote and encourage budding entrepreneurs. In promoting entrepreneurship, we are supporting innovation, and creating employment. THE PITCH is a great platform created by
BloombergUTV to identify these entrepreneurs who will energies and fuel the growth of the country and we are happy to be a part of this process.”

This season of THE PITCH is presented by Samsung Electronics. The multiple features and utilities of the Samsung Galaxy Tab 750 will play an integral role in the participants’ lives through the show. The wireless keyboard, making presentations, even receiving the tasks, will all become significantly easier with the Tab.

“At Samsung , we are very happy to partner with ‘The Pitch’ because in many ways the qualities that this program looks for in the winner are the ones we at Samsung espouse – a strong business proposition; innovativeness and smartness amongst others .’The Pitch’ provides a strong platform of recognition to strong business ideas and I am confident that in its second season it will get an even strong viewer response ” states Mr Ranjit Yadav , Country Head , Samsung Mobile & IT .

The Pitch has been conceptualized and produced by Big Daddy Productions, a Globosport company. The Pitch airs on BloombergUTV at 8pm every Saturday from 5th November.

About BloombergUTV

BloombergUTV, India’s premier Business news channel is a strategic partnership between Bloomberg L.P., the global leader in business information, and the promoters (founders) of UTV, India’s leading integrated media and entertainment enterprise. With an enviable squad of Indian journalists, power of over 2500 professionals across the globe and a network of 145 bureaus, BloombergUTV is a product of local news gathering, production and distribution expertise combined with world class financial news capabilities and global reach. The channel is positioned as an enabler that cuts out the terminology and presents the honest truth. It ushers in the investment culture to a whole new class of Indian growth aspirants that have somewhat been alienated with the erstwhile genre offering. BloombergUTV received accolades for its programmes as well as promotional strategies at the NT Awards 2011 and ProMax India 2011. It received the Best Live Telecast Show award for ‘Today’s Bets’, the Best Promo Award for ‘the Earth Day campaign’ and the Best News Show promo for ‘Exposed’. Powered with thought leadership across markets, news and path breaking features, BloombergUTV aims to lead the attitudinal shift where intimidating numbers give way to usable knowledge and clarity…and aptly create a business news delivery format that’s Blunt. And Sharp.

Submitted by: Ketchum Sampark

Introducing India’s most authentic Camp-out Music Festival – ‘Storm’

PRESS RELEASE

Introducing India’s most authentic Camp-out Music Festival – ‘Storm’

~ A unique camp-out music festival that brings Nature, Music and responsible enjoyment ~

 

Bangalore, October 30th, 2011: The power of music brings people from any generation, culture, caste, creed and age together. Be it in any form or genre, music unites everyone. Storm, is a camp out music festival for 2 days to be held in the hills of the beautiful district of Coorg in Karnataka. Storm in association with Karnataka Tourism, MTV Roots, Timescity.com and Radio One, will have over 37 artists from across the globe performing on two different stages. The Festival will have bands and DJs like Indian Ocean, Lesle Lewis, The Raghu Dixit Project, Richard Durand, Thomas Gold, Pearl, Nikhil Chinapa and others.

A brain-child of LIQUIDSPACE Entertainment Pvt Ltd, Storm Festival will showcase an eclectic mix of dazzling Electronic music and bands. The festival promises to stir up the urge in you to enjoy the music and the adventure. The festival will have DJs from across the globe to keep your feet tapping and top bands from India to fill with different flavours of music while one gets to enjoy the serene beauty of nature along with adventure and camping experience to get you of the daily grind and mundane. A dream of a couple of years back is being brought to reality in the form of the Storm Festival with the support of artist managers Submerge and The Syndicate. Storm aspires to showcase the natural beauty of Coorg, the Scotland of India and encourage responsible tourism through its initiative against the usage of plastic and drugs

With a strong conviction towards preserving the environment, team-Storm takes the concept of “responsible Tourism experience” to a new level. With eco-friendly venue, minimal usage of plastic and innovative recycling techniques, Storm Festival promises to fulfil the green-cause. The festival is a total “drug- free zone” and has a zero tolerance policy against those who breach it.

Speaking about the concept of Storm, Lavin Uthappa, Managing Director of LiquidSpace Entertainment said “With a strong conviction towards preserving the environment, team-Storm takes the concept of “responsible Tourism experience” to a new level. This initiative is also to strongly address a few of present global concerns and doing our bit to prevent environmental degredation through innovative strategies and technology. Its a complete experience for all age groups, young or the old with Multiple Stages, Food corners, a Flea market, an Adventure zone and Camping area where each individual at the festival enjoy music, nature, food and Adventure”.

Submitted by: Media Moments

Fake Pen Drives, Memory Cards on sale at Churchgate, CST Stations in Mumbai

By Frank Franklyn

Lakhs of fake and spurious Pen Drives and Memory Cards of reputed brands like Transcend, Kingston, etc, of varying capacities from 2 GB to 128 GB have entered Mumbai and are being freely circulated and sold particularly at railway stations at highly discounted prices.

For example a 32 GB pen drive that would normally be available between Rs 2500 to Rs 3500 – depending on where you buy it from it being sold for Rs 350 at Churchgate and CST railway stations. These fake and spurious pen drives and memory cards have special hidden software or device drivers pre-installed on them that makes them look like the real thing and correctly displays the capacity of the device when inserted into a computer. However, if one formats the device, it immediately becomes unusable because the hidden device driver software – – that is used to fake users into believing that the capacity of the drive is much higher – gets deleted. The device can barely store a few GB of data but claims to store anything from 32 GB to even 128 GB. The 128 GB fake pen drives are being sold for Rs 1000 while the 64 GB pen drives sell for Rs 500 to Rs 650 depending on how much you bargain with the road-side vendors.

What is very surprising is how the international brands like Kingston and Transcend who are officially present in India through their dealers and distributors have not taken any action against such fake products and the vendors that sell them in broad daylight? Or are the distributors and representatives of these brands hand-in-glove with these black marketers? Given the fact that the fake products are openly sold even in some stationery stores in a very crowded and prime locations, the brands must be taking a beating as many unsuspecting customers who buy the products may not realize that they are very clever fakes and may fault the brand when the product fails.

IMC WOMEN ENTREPRENEURS 2011

 PRESS RELEASE

The Ladies’ Wing of Indian Merchants’ Chamber (IMC) started in 1966 primarily as a forum for creating social awareness. The Wing boasts of a membership of 1950 comprising of women entrepreneurs, professionals social activists and home makers. Over the decades it has progressed and evolved to emerge as a dynamic movement for the empowerment of Indian women.

In its effort to support entrepreneurship amongst women, the Ladies’ Wing organizes an Annual Exhibition titled “IMC Ladies’ WingWomen Entrepreneurs”. The exhibition was conceptualized to promote Women Entrepreneurs and to afford them an opportunity to display their skills and creative talent. Over the past few decades, this prestigious Exhibition has grown in leaps and bounds, emerging as a stepping stone or platform for several aspiring woman entrepreneurs. It is a coveted shopping destination patronized by those with a discerning eye who value quality. The exhibition has been a launch pad for many participants who have subsequently established a niche for themselves in the Fashion industry. It has also been an important address for the promotion of the work of women NGOs and artisans with a pan-India outlook.

The proceeds of the exhibition are utilized towards charitable causes focusing on education, empowerment and socio-economic development of women, youth, children and society at large.

This year the IMC Ladies’ Wing will herald the annual Exhibition with a “Curtain Raiser Fashion Show” to be held on 10^th October 2011 at the Taj President at 20.00 hrs. The internationally acclaimed fashion model and designer- “Bibi Russell’ will be presenting her pioneering creations. This UNESCO named “Designer for Development” will be showcasing her first solo show in Mumbai.

SPEAK ASIA SCAM: Speak Asia’s ploy to stop payments to panelists

WHY DID UOB BANK FREEZE SPEAK ASIA’S ACCOUNTS:

THE INSIDE STORY

 

Freezing of Bank Accounts is just an excuse to stop payments to panelists, opine experts.

UOB Bank officials say, Speak Asia has already shifted its funds to other locations.

 

 

By Frank Franklyn – Futuristic Media Network (editor.fmn at gmail.com)

Financial experts in India are surprised that a company which has admittedly 19 lakh members as panelists and almost over  Rs 500 crore cash in transactions with its banks would be dependent on only one bank for its payment transactions to panelists.

On Friday, through an email to all its panelists the management of Speak Asia (which is under fire for its style of functioning) informed its members that the United Overseas Bank (UOB) has closed or frozen its accounts thereby causing a delay in disbursements to its panelists.

Financial experts say that this is just a ploy to avoid payments to its investors. “No company doing business and having a turnover of crores of rupees would be dependent on just one or two banks for its daily transactions,” says Ramesh Naithani, a financial analyst, former senior banker and now broker with The Stock Exchange, Mumbai.

Secondly, Speak Asia must have defaulted on its commitments to the United Overseas Bank or UOB or else the bank would not freeze the accounts without giving the company a prior notice of at least 15 days, adds Naithani, explaining that it is obvious that the company has not complied with statutory requirements for corporate entities forcing the bank to take such drastic steps.

Further the company Speak Asia should have sued the News Channels and newspapers in India if it had its fundamentals in place. The fact that the company did not initiate any defamatory action against any publications or individuals in India which made allegations against the functioning of the company and its business model shows that the company is hiding something.

Our reporters in Singapore contacted the management of United Overseas Bank. While the bank was not willing to comment officially on its relationship with the company citing secrecy laws and client-vendor privacy, a senior bank officials who spoke to FUTURISTIC MEDIA NETWORK on condition of anonymity said that the company has not provided the bank with the documentation and other statutory paper work required for corporate entities. As per Singapore corporate laws the company Speak Asia has defaulted on every statutory requirement in terms of documentation and paper work, said the bank official.

The bank official also confided that Speak Asia was given enough notice to move its accounts and funds to another bank and the company has already transferred a huge chunk of funds to another location – which we cannot disclose due to client confidentiality requirements, explained the bank official.

FROM THE ABOVE IT IS AN OBVIOUS PLOY TO STOP PAYMENTS TO PANELIST AND MEMBERS.