"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