Educational loan scam

Querist : Anonymous (Querist) 07 April 2025 This query is : Resolved
2 months before educational loan was transferred to institute name by one of the leading finance company on our name .loan was taken by nearly 400 people for business studies.
Institute collected rs 5 crore in the form of education loan but in 2 months company ran away taking money not given any product also.

And the finance company is asking for emis now.

Finance company gave loan to so many people n the company ran away.

Don't you think it is the mistake of finance company to ask emi and skip that pvt ltd company.

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Querist : Anonymous (Querist) 07 April 2025
2 months before educational loan was transferred to institute name by one of the leading finance company on our name .loan was taken by nearly 400 people for business studies. Institute collected rs 5 crore in the form of education loan but in 2 months company ran away taking money not given any product also. And the finance company is asking for emis now. Finance company gave loan to so many people n the company ran away. Don't you think it is the mistake of finance company to ask emi and skip that pvt ltd company.

kavksatyanarayana (Expert) 08 April 2025
This is a repeated query. Why repeated????????????

T. Kalaiselvan, Advocate Online

(Expert) 08 April 2025
The loan was availed by the individuals and not the educational institution hence the finance company is right to recover the amount from the borrower.

Sudhir Kumar, Advocate (Expert) 10 April 2025
You have to pay. Finance company is not at all at fault if you are cheated.

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