[Resolved]  Agastya Finance — Fraud in the name of providing personal loan

Fraud in the name of providing personal loan

My sister’s son was not keeping well he was about 9 Years old, Medical reports confirmed that he is suffering from Blood Cancer, so they bought the boy to Bangalore institute of Oncology, for the treatment we were running short of money, at that I received an SMS from Agastya Finance that they provide easy finance solution in terms of providing hassle-free personal loans. They also have a website called "www.agastyafinance.com". All the transactions happen online with no face to face interaction. One Mr. Sai Kumar called & asked me to mail all the pre-requisite documents (Bank statements, pay slips, ID proof, address proof etc) and also the dully filled up Loan application form with 2 valid references. After submission of the documents via mail, my references received calls & after 2 days I received a call from Agastya Finance Mumbai office that my loan is approved, and I was given a phone # [protected] of Mr. AK Sharma (who is the MD of this Organization) for calling. When I called him, Mr Sharma congratulated me for the loan approval (1 Lacs) and said that as a part of the procedure I have to submit Rs 5750/- as processing fee to the ICICI Bank account No:[protected] Ashok Nagar Branch Indore. I got an assurance that the loan will be credited to my bank account in next 48 Hrs. When I did not receive the same in next 7 days, I called Mr Sharma again & he said that it was a mistake done from Sai Enterprises & Mr. Sai Kumar in the application & also their norms is to pay 2 EMI's in advance (not one). This time Mr Sharma provided me with a Kotak Mahindra Bank account # in the name of Agastya Enterprises & said that the loan is ready & He also mentioned that the loan agreement is also ready & one person will visit my residence very next day to get the same signed. But even after 2 months no amount has been credited to my account, meanwhile my sisters son passed away, instead I have already paid Rs 5750/- to them. Mr Sharma stopped picking up my phones & hence I had to call him from an unknown number. When he picked up the call after 1 month, he then said that the old loan scheme has changed & as per the new scheme I am supposed to pay the entire accumulated interest amounting to Rs 15000 - Rs 20000 & only then I can get the loan. I realized that this was just a trap to get money & not an actual personal loan scheme. I disagreed & told him that I do not need the loan & asked him to repay me my money. There is an e mail ID [protected]@yahoo.com, where I was earlier interacting with Mr Sharma (even he gave me false net transaction number just to make me believe that the online transaction has been done from their end, but later I confirmed from my bank that the transaction # is invalid). I have sent repeated mails to Mr Sharma but he never responded. He is not picking the calls at all. Yesterday somehow I got his number by dialling from another unknown number but he immediately disconnected the call once he recognized me.

This is a very big FRAUD COMPANY, but their websites, application forms, reference checks & e mails with online transaction ID confirmations made everything look so real.

The culprits are: Mr AK Sharma, phone numbers: [protected], [protected], Mr. Sai Kumar - contact number [protected] , their bank account details: AXIS Bank account # [protected], Kotak Mahindra Bank account # [protected], and ICICI Bank account No:[protected] Ashok Nagar Branch Indore.

I have now seen few more complaints of similar nature about Agastya Finance. This is really a very BIG fraud going on in the current market. I am writing this in details so that everybody knows the real face of this Agastya Finance & should not fall into the trap & loose our hard earned money to these cheats. I also urge those who have been a victim like me, to unite together & file an official police complain & a consumer forum complain at least to ensure this cheating business stops here. Every now and then I keep receiving an SMS about this FRAUD COMPANY, they are still at large.