"An incident occurred where one person gave a laddoo to another person. The interesting part was that the first person took all the possessions of the person receiving the laddoo in exchange for it."
Well, although it didn't happen exactly like that, something similar did occur.
This story revolves around some students who wanted to build their careers in the field of data science architecture. Due to the financial circumstances of these students, they chose an institution that promised to provide training in their data science architecture program. The students were required to pay the training fees.
However, the students were assured that they wouldn't need to pay from their pockets as the institution claimed it would arrange a loan through its partner finance companies. The institution would continue to pay the loan installment until the students secured placements through their training in the program.
The students thought it was reasonable since the institution was providing EMIs until placements were achieved, and they would repay the remaining amount after getting a job. They took admission in the institution, and at the beginning of each month, the EMI amount was credited to the students' accounts, and from there, it would be transferred to the account of the institution's finance partner who had provided the loan to the students. Meanwhile, the institution started providing training in the data science architecture program to the students.
The institution was running on this promising premise for almost two years. Around seven to eight students displayed payment receipts, claiming that many students had benefited from the institution. However, there were some students who were still undergoing training as they hadn't secured placements yet.
The students who had been training for a long time claimed that the syllabus in their batch hadn't been completed yet. Some new students had also joined. The process of learning, teaching, and repaying the loan was going smoothly.
Most of the students claimed that they were receiving the EMI on time, but the institution was deducting thirty to forty rupees less than the actual EMI amount. Some students studying in this institution had jobs, while others were unemployed. The unemployed students demanded full repayment from the institution, but the institution skillfully evaded their demands.
In this way, the institution's true face slowly began to emerge. In February 2023, the institution announced that it was not obligated to provide the EMI on time, despite the agreement between the institution and the students clearly stating that the institution was responsible for providing the EMI. However, now the institution was pressuring the students to repay a substantial loan amount on their shoulders, disregarding its responsibilities.
The students rightly protested against this, and they filed a complaint with social media, the police, and the court, presenting physical evidence at the institution's office located in Jayanagar, Bangalore. The institution hadn't provided EMIs or conducted classes for the past two months. On the other hand, the finance companies claimed that they had provided the money to the institution based on the students' request, and now the institution was trying to collect the large loan amount from the students.
It's noteworthy that the phrase "collect from the students" reveals the nature of the finance companies' intentions towards the students.
The institution wants to extract a large sum of money from the students by giving them imaginary laddoos in their hands.
Institution Name: Geeklurn Edutech Pvt. Ltd.
Finance Partners: Propell, Credence, Aaditya Birla Group, etc.
Maximum Institution Fee: INR 278,000/-
Maximum EMI: INR 10,000 to INR 15,000
Loan Tenure: 36 months
The situation for the students is challenging as they cannot afford to pay such a large amount every month. The institution took
visit to know more: https://www.linkedin.com/pulse/students-demand-justice-geeklurn-edutech-nbfc-aditya-birla-behera
https://www.ambitionbox.com/reviews/geeklurn-reviews
https://www.consumercomplaints.in/bycompany/geeklurn-a646554.html
https://consumercomplaintscourt.com/education-loan-fraud-done-by-geeklurn-edutech-pvt-ltd-banglore/
Fraud Geeklurn
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