[Resolved]  ICFAI University — Harrasment

I had also enrolled for the MBA programme in Jan 2006 and I signed up for the emi facility. I payed the 10, 000 advance n gave them 18 PDC's. I got engaged in April 2006 n since I was to relocate to another country after my marriage in Nov i decided to discontinue the course. I made a stop payment on my cheques and informed them that i do not wish to continue with the MBA. they of coz said that wsa not possible n dat I have to continue it. They also told me even if I am abroad i can still continue the MBA from there. But I did not get any details of the same from them. Before my wedding they started sending sum collection agents to my place n with the prospect of continuing the mba from
abroad i paid about 30, 000 to them. but then after marraige ofcoz i cud not continue the mba, in august last year they started sending people to my house in mumbai demanding payment. I went to Mumbai for my delivery in December 2007, before which I had sent 3 emails to ICFAI requesting to discontinue the course since i was going to have a baby n it wud b practically impossible to continue, but again i received no response. I was even willing to pay them the remaining money jus to get rid of them, but they never reverted back. so i jus left things as they were n now they sent sum court order to my parents house, this has really disturbed my parents a lot n i am here in a foriegn country with a baby to care for. Really not sure how to deal wid this.

Can u plz help me out n gimme sum suggestions?
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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  13 CommentsShareTweet


Veena Ji! I am sure we need to follow the terms of the obligations as a natural process. It is clear from your posting that you were intimated about possibility of attending examinations abroad as well. Health reasons your are quoting are definitely temporary, when viewed from big goal of career progression. Hope I am not offending. You may introspect on this. Sure you will find an acceptable answer.
I am a Student of ICFAI NATIONAL COLLEGE, Trivandrum, Kerala.
Before i join for MBA course I had lot of expctations and dreams towards MBA more over it is a plat form to reveal my all exposure for my developments. But i had paid 2, 26, 000/-. I have the liberty to express my feelings... At first season it was quite satisfied with my studies but after summer intern ship programme totally changed the attitude of mine. Now the situation is pathetic I thinnk why should i study MBA It is not being given up to the mark what i have been expecting. The reason is that low standard, Poor infrastructure, hesitation to spend money for students in any kind of activities, low encouragement, very very low standared soft skill trainees.

So this is the situation Think before you Join...
Worst thing is joining ICFAI. I have lost nearly 3 lacs in form of fees. Hopeless university with environment. Just know how to mint money.
Hi Friends,
I also want to share my experience regarding ICFAI. As everybody did I also submitted the post dated cheques for MBA. There were no classes atall and no proper faculty. So I decided to withdraw but they started pressurising to make the payment. I took help of a lawyer and now the case is going on. The lawyers fees is still affordable and is hardly 10% of this course fees.

I dont know why the government of India is not taking any strict action. I even heard through one of my colleagues that ICFAI have given bribe upto 2.5 crores per MP to get university recognition. Is it true or no ...but end of the day God can only save from such devils.

My sincere advice to juniors is not to even think of this university else you will fall in there trap as it happened to me
ICFAI is a kind of place and 4 the juniors i only want 2 say that pls dont spoil ur future with these fake university .
Take legal action against them, lodge a harassment complaint with police and involve media in it. All the demand notice being sent to you are just meant to scare & coax you to pay. They actually have no validity in the court of law.

Photon Capital Advisors Limited:
Business Profile
Photon Capital Advisors (PHOTON), incorporated in 1985, is a registered non banking finance company as per the RBI guidelines. It is part of the Photon Capital Group, advisors to hedge funds, family offices, high net worth individuals and investment partnerships that invest in India. Earlier known as Hifco Marwel, it got its present name on Feb. 26, 2008.

Income is generated as service charges from advisory services rendered.

The registered office is located at 104, Nirmal Towers, Dwarakapuri Punjagutta, Hyderabad-500082, Andhra Pradesh.

Photon Capital Advisors registered a loss of Rs 7.71 million for the quarter ended September 2008.
It recorded a net sales of Rs - 3.94 million for the quarter ended September 2008.
Total income was Rs - 3.92 million for the quarter.
The loss per share of the company was Rs 5.09 for the quarter ended September 2008.
Place your concerns with RBI as Banking Ombudsman at:

Photon Capital Advisors (PHOTON), incorporated in 1985, is a registered non banking finance company as per the RBI guidelines. After receiving such complaints I am sure the company will be blacklisted as the HIFCO MARWELL its previous entity had been.
its a fake university, , , , , , so plzzzzzzzzzzzzzzz atleast think more than 1000 times before joining the ICFAI. . . . rest is upto u. . . .i[censored] want to spoil ur parents money, ur time n most of all ur career, jst go with this institute. . . . .hope by so many cmnts u can undrstnd. . . .ICFAI found the hw to make money from the middle class family. . . .
Friend i m agreewith u all, its totally fake university, so pls dont wast ur money, time & ur carrer to joining in this uni.i m an MCA students in this uni.i was joining this uni. in spt.2007, still i cant clear my A pls dont get an admission in this uni.i paid my 55, 000 Rs.till now.
hi all rit now 'm pursuing MBA in ICFAI coll...i am really frustrated by the college could anyone suggest me about the transfer of campus and which centre would be gud enough becoz 'm in need of transfer of centre...
Hey guys,

Please help me yaar.Same legal notice I got from icfai for stopping the pdc.
what to do ?? can you please suggest !!
I already pleaded them that I am going to stop the pdc. but still this legal notice came to me..! I can'tunder stand as a studen don't i have the power to stop my study at any moment??

Please help yarr..

Mr Arjun!

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.
Dear Ms. Veena,

This is with reference to your complaint posted on Consumer Complaints website on 27-08-08. Our response is given below:

In the given changed situation you may write to the university ([protected] with the requirements you would like to meet. So that a favorable decision can be communicated to you.

Dr. TRK Rao
Director, CCD
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