[Resolved]  ICFAI — Being Blackmailed by Icfai & Hifco Marwel Ltd.

I submitted my application for flexible MBA programme on 19th January 2007 after getting verbal assurance from the Kolkata office of Icfai that I will be made eligible to appear for April 2007 exmainination as there was scope for a job in an IT company if I am enrolled for MBA programme and pass my first examination in April 2007. Along with my applicable I paid Rs.10, 000 in cash and 18 post dated cheques. I received my study material and I was preparing for the April exam. When I try to down load my admit card in end Feb and again in early March I was not getting access. I reported this to Icfai and got stunning reply that the cut off date of registering for April exam was on 22nd Jan. 2007 and since I was enrolled on 31st January I cannot appear for April 2007 exam. I pleaded with them to allow me to appear for April 2007 exam as there is a good chance of getting a good job, but they did not relent. This denial by Icfai upset all my plans and it smashed my hope of getting a dream job in the ITCo. I immediately sent a letter to Icfai withdrawing from the MBA programme and stopping payment against the balance PDC as they have already encashed one PDC. In the meantime I received few mails from the Icfai and letters from Hifco Marvel to pay for the dishonoured cheques. Now I have received a notice from the Lok Adalat to appear before them at Hyderabad for mutal settlement otherwise more severe legal action will be taken against me by the City Court Magistration. All in the same boat as I am should write to me giving their e.mail so that we can discuss for joint action. My ID is francis.[protected]

Sincerely yours
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Aug 13, 2020
Complaint marked as Resolved 
Complaint comments  12 CommentsShareTweet


Dear Sir,

I was apperaing for cource of CIIA thr ICFAI (Ref. no CIIA860745), i had chosen EMI mode of payment .One of those cheques for loan was bounced, but i had paid that amt. to the agent Ramesh who was following up. Now i have got legal notice under negotiable instrument act.I am totally surprised.Please stop the legal procedure immiditely.Even if i had paid amt. to th Hifco Marwel recovery agent, i will pay it again, please stop the legal procedure immiditely.

Girish Wani
Dear Sir,

I was studyng your MBA course from ICFAI Laketown study center at Kolkata.My Enrollment number was[protected], i had chosen EMI mode of payment .In 11th Feb-2008 by email stating that i would not be able to continue MBA due to financial stringency and other family problems and requested the ICFAI not to collect the PDC from my Bank A/c.But very recently i have got legal notice under negotiable instrument act.I am totally surprised and when i received it the date of appreance at the Magistrate court at Hyderabad was already over.

Please stop the legal procedure immiditely and let me know how it can be settled mutually at the earliest.Please stop the legal procedure immiditely.

Soumik Tarafdar
Dear Soumik!

Your write-up should better be addressed to Institute for consideration. The issue being legal, I don’t think blog is the right place. Contact them directly and sort out outstanding fee dues. Good luck.

I am Manmohan I enrolled myself for MBA through correspondense ICFAI but due to flexible movement I am continue to this course I made request to that please refund my amount after deducting the expenses bear by ICFAI on me from Rs 85, 000/= as I lost my last job and I am unemplyee so I am unable to pay the rest 5 post dated cheques out of 18 posted cheques worth rs 4323/= each.
And after that they threaten me that you have to pay that amount else we charge a case against you and you have to appear in Hyderabad court for the same as you signly commit that you will pay all 18 cheques at any cost.
I am highly frusted this kind of attitude and very sorry to say that akll of futuring candidate who wants to do MBA through ICFAI is very harsh and foolishness decision.

Manmohan Mishra
Enrollment no:[protected]
Mr Mishra!

Any financial commitment entered into needs to be settled either by payment or through mutual conciliation. Blog is not the right place. Write to them direct for consideration on merits of the case.
Yes I am also agree about all the complaints
vikash kumar
My Name is Vikas kumar and i am total agree with all the complaints about Icfai institute .so in my advice no students should take the admission in this insitutute .
so avoid this institute and do not waiste the money and time ...

thanks and regards
vikas kumar
All India Crime Reforms Organisation
Batch NO: Del/PTV/ 080
Under Study Student In LLB Programmes
Mr. Vikash,

Why such critical view towards icfai institute. Rather you should appreciate the effort they put to offer programs in various fields of interest to impart knowledge.
Dear Ms. Mini Francis,

This is with reference to your complaint posted on Consumer Complaints website on 11-03-08. Our response is given below:

Please note that you are enrolled for MBA exam. The cut off date is 31st December to be enrolled for April exam. Generally a bonus period of 15 days is given to ensure that all applications are processed and application stuck on courier is also received on time and enrollments are completed by 15th Jan.
All the operations in the university are computerized and the examination eligibility is processed as per cut off date and deviations are not possible as the university is conducting quarterly exams and any acceptance of deviation would hamper the operation. As you have enrolled for MBA which is a 2 yr degree program, such delays should not come in the way of long term as aspiration of acquiring the qualification.
The prospectus clearly says that enrollment is processed on the payment of full fee/installments and the students opting for installment scheme cannot unilaterally decide to stop payment as the enrollment is processed with the explicit essential that you have paid the full fee based in the PDC submitted by you.
The process of collecting payments in installments to HIFCO MARVELL LTD and hence they have contacted you for necessary payments. In any case if you need to withdraw from the program you should report your case with justifiable reason to the university so that appropriate decision by the concerned can be taken and communicated to you. You are advised to contact [protected] or call our toll free no[protected] or[protected].

Dr. TRK Rao
Director, CCD
Dear Mr.Girish Wani,

You may directly write to the Institute to seek clarification on this matter at [protected] . Please indicate the program and the enrollment number so that your grievance can be looked into.


Student Service Dept
Dear Mr/Ms.Soumik Tarafdar,

This is with reference to your complaint posted on Consumer Complaints website on 01-07-09. Our response is given below:

We have noted that no issue is outstanding against you currently. If you have any other queries, please approach [protected]

Dr. TRK Rao
Director, CCD
Cheated by ICFAI,

This is Abhinav Mishra..i enrolled for Diploma course in Sep2010 and i passed the examination of export management but the thing is that when i gave exams of import management in Feb2011 they just totally changed the questions instead of giving a questions of import management they gave me the questions of export management i never failed in my life ..i got 2 years of work experience in forex management and custom clearance ...they just cheated me ...they are in the money making business its really embarrassing...let see how i complete this course on time as i m enrolling in MBA in April..ICFAI sucks dont join this..

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