[Resolved]  Aditya Birla Money — Gold harvest scheme cheating

I am in same boat - I my initial deposit cleared on 20 april - after that no follow up - today they are telling me that i have to call to make booking - But then why did they take 2 cheques and made me sign ECS - What is meaning of ECS?
Mr Aditya Birla - Reliance ke baad aapka number aya kya?

Sirji my email id is [protected]@gmail.com - pls contact me - we will fight this together

I had clearly mentioned to the concerned investor that a minimum period of 10-12 working days is required to open the account and book the gold. However, this period starts only after the complete set of documents is received which never happened in the subject case. Hence, the application form was returned to the customer.

Moreover, there is no case of cheating whatsoever since all documents including cheques were returned to the customer

Nilesh Parab

I was contacted by same company. I crosschecked with other brokers, following information come out contrary.
1. At the end of scheme, no gold bar would be delivered as claimed by this company. Aditya Birla Money is not delivering any gold bar any more. But, this agent still continue to say that you can take gold bar.
2. There is no fixed rate of gold at the start of scheme, but its a marely forward booked on monthly basis on your behalf. At the end of the scheme, you may need to pay the difference as per market rate.
3. Gold purchased through this scheme cost much higher than direct purchase of gold as for 3 years period, you are spending a lot as monthly brokarage for agent for forward order booking.
4. This scheme only benefits the broker who get monthly commission for 3 years.
5. This agent was not able to show me any document which confirm that your rate would be fixed today for gold and would remain the same for next three years. Instead he shown me only one page of monthly contract booking. Also, he became impolite telling these are given by company to client and I do not have them, its delivery job.

Please enquire before booking above details. After my last conversation, where same agent talked rudely upon above queries, I dropped idea of dealing with him.

Why dont people understand and make a cautious steps before they go ahead with these investment. Any company in this world never starts their business just to cheat. Its the investor who makes an hasty steps and invest. Take all forms go through with them take a week time and browse in google or other website for product information. It is unfortunate that even a software employees who got ample time with them and hang out with system in entire day doesnt even thing of getting information from internet before they invest. Marketing executive always hides things they brei[censored] about 90% of product information but they never cheat. We are being cheated because of our greediness and investing without no clarity on products.

I do agree with you. I have also invested Rs. 25000/- thru Mr. Anupam prakash maurya - sales manager - direct business Aditya birla money. he took the cheque and all all documents signed. he said u will recieve the kit and details like customer id within few days and your amount will be invested. but even after five months no kit recieved and neither invested. Calling ([protected]) him has given no results. even company number [protected] has not responded. I am sick and tired how a company like birla can do such things without considering their repuatation at stake.

MD of the comapany must be known about the same or he himself is a part...

call me at [protected] if their is any solution.

I am facing a new issue here. I also had all those initial hassles in buying the policy and had to fight and follow up with them. After a couple of months follow up i finally managed to buy one. It was bought on my mother's name. Suddenly on 20th march they called and said we need to submit the pancard. When we said my mother does not have PAN card, agent said we can apply and send the receipt that will work. We did the same and fax the receipt of PAN application to Chennaioffice. but today they messaged that gold bought has been sold. without any prior intimation. Called chennai office which reffered me to local Bhopal branch office, where none picks up the phone.

Please advise what should be the further steps? who is governing authority for these policies (is it SEBI), where we can complain about this.

Thanks

goldharvest.net — cheated by goldharvest

i have invested 3 lakhs rupees in goldharvest my upline said they will give weekly payment and within a month your amount will get double but they did not give single rupee now website is also not working i dont know what should i do now please give me suggestions

Aditya Biral has relaucnhed the Gold Harvest, please advise if we should go ahead for investment.

pls call on the below number for any queries[protected]

It is a total fraud scheme. ABCBL is a total cheat. When I applied initially, I was told that I have to pay margin deposit of Rs.15000/- initially and monthly instalment of Rs.3500/- for 3 years and at the end of three years period, I will be given 100 grams of gold after payment of vat, service charges. No more payment is need to be paid other than this. Now my three years contract is going to over shortly. When I approached them, I was told that I have to pay difference between the current market value of the gold and the credit amount available in my trading account held with them. Even in their contract I signed with them, nowhere they have mentioned that, I should pay the amount equivalent to current market value for taking physical delivery of the Gold. Had they told that initially that I have to current market price for taking delivery, I would not have entered into this scheme. Birla, having a big Corporate Image, is cheating the innocent investor and making their own wealth. They are charging enormous amount by way of brokerage. I am going to make a complaint with SEBI for their way of cheating.

U guys are wrong, Aditya Birla gold scheme is really nice & trustable scheme, I read ur comments & I scared & I decided to quit from gold scheme, & I'd called chennai they gave very good response & also given me Malad br no to communicate so I called Malad off from there also they given me proper info, I told them that I want to quit from scheme, so they told me procedure for refund & I did that procedure & my chq is also ready. In double amount. U guys only go through right person then u never will b in trouble, don't listen to any one, u go yourself only. I am writing Malad Mumbai head off no for any enquiry[protected],[protected]./ 461/ 465
U enquire ur prob there, don't blame before that. I am experience person, that's y i am saying this.

Hi, this is shankar shahu, I am having an account with aditya birla money, I am not aware who is exactly my dealer in Aditya Birla money.

It has More than a month now, I had buy a future of Ranbaxy at price of RS512 and I told my broker square it off at the end of the day, but he dint do it and the share price went down, even I dint got a confirmation call on the same day, and I was in the intention that it was square off.But when I got a message on the 2nd day and I tried to call them (Sachin) in JM road Branch, he din, t pick the call, the other dealer pick the call and said he is on leave, I told him what was happened, but he replied that he will tell him, Later in the next week when he pick the call, who is responsible for this, he said said that just wait the price will go up and you you will get profit day by day the value was going down but he dint even call me, later the stock was square off with my confirmation. then I called him and he said you have to deposit Rs6000 to built the position again, I told him that every time when I use to call, why you told me this stock will give profit, then he replied that I will cover it up for you . every day he use to tell he will call me but he never called from his side, i did a follow up for my stock . I want to know why aditya birla is charging a brokerage when they are not providing any service .Now my accout is showing a debit of 21000RS who is responsible for this. If this issue is not resolve I will take this issue to SEBI. Shankar shahu :mob [protected] client Id 11728937.

Hi, this is shankar shahu, I am having an account with aditya birla money, I am not aware who is exactly my dealer in Aditya Birla money.

It has More than a month now, I had buy a future of Ranbaxy at price of RS512 and I told my broker square it off at the end of the day, but he dint do it and the share price went down, even I dint got a confirmation call on the same day, and I was in the intention that it was square off.But when I got a message on the 2nd day and I tried to call them (Sachin) in JM road Branch, he din, t pick the call, the other dealer pick the call and said he is on leave, I told him what was happened, but he replied that he will tell him, Later in the next week when he pick the call, who is responsible for this, he said said that just wait the price will go up and you you will get profit, day by day the value was going down but he dint even call me, later the stock was square off with my confirmation. then I called him and he said you have to deposit Rs6000 to built the position again, I told him that every time when I use to call, why you told me this stock will give profit, then he replied that I will cover it up for you . every day he use to tell he will call me but he never called from his side, i did a follow up for my stock . I want to know why aditya birla is charging a brokerage when they are not providing any service .Now my accout is showing a debit of 21000RS who is responsible for this. If this issue is not resolve I will take this issue to SEBI. Shankar shahu :mob [protected] client Id 11728937.