The Gujarat Police has not yet registered a complaint in this matter because they say that this is a civil case, said the report.
Citing the students, the report further said that these 124 students were selected in the group through campus placement in 2021. Two supposed representatives of the startup came to the Engineering college located in Sola, a suburb area of Ahmedabad city. The students says that the loan was taken two months after the students were hired. The startup claimed that they provide business consultancy to firms. This Gurugram-based startup, the name which remain undisclosed in the report, was paying students irregularly. However, when reminders for EMIs of Rs 5,000 started coming from a well-known bank, these
students realized that the loan had been taken without their knowledge and consent.
The EMI amount was deducted from the account of the students who had balance in their bank account. While the CIBIL (credit rating) score of those who did not have a balance in their account was adversely affected. Students were not able to repay the loans, which they had not taken in first place, so their credit rating was going down. Students were mostly given work from home by this startup.
When the students confronted the representatives of the alleged company, the representatives said that the issue would be resolved quickly and that they need not worry.
One of the selected students in 2021 was automobile engineer Alwaz Pathan. He has recently filed a complaint at the Shahpur police station in Ahmedabad and has alleged fraud against two representatives of the company. "During the selection, he made us sign an agreement and took our digital signatures besides taking several documents.
"During the selection, he made us sign an agreement and took our digital signatures besides taking several documents. We were told that the job would be confirmed after a one-year probation period. Few days after my probation started, I received an SMS regarding EMI. When I asked the company about the EMI, they said that they will settle the amount in my salary. They neither gave us salary nor nor reimbursed us any amount", said Pathan.
Alwaz Pathan then realized that this startup had taken an education loan of Rs 2.10 lakh in the name of each student by misusing his documents and digital signature. Alwaz resigned from the firm but later came to know that the company had cheated 100 more students who graduated from the batch between 2021 and 2023 in this manner.
According to Alwaz Pathan, the future of the recruited students is uncertain as the company recently declared bankruptcy. "Many students do not have funds in their bank accounts. The CIBIL scores of students unwittingly caught in the scam have deteriorated." Alwaz Pathan's lawyer Irshad Mansoori said that he approached the Sola police but they refused to register a complaint. "We also approached the cyber crime police but they also did not take up the complaint.
According to information collected by Times of India from police sources, "Many students do not have funds in their bank accounts. The CIBIL scores of students unwittingly caught in the scam have deteriorated." Alwaz Pathan's lawyer Irshad Mansoori said that he approached the Sola police but they refused to register a complaint. "We also approached the cyber crime police but they also did not take up the complaint. After which we approached the Shahpur police but they refused to register an FIR as it was a civil case", said Irshad Mansoori.
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