[Resolved]  Investors Clinic — Fraud/ Scam by Investors Clinic

Address: Uttar Pradesh

I was introduced to Javed Naqvi - and employee of Invesotrs clinic by Mr Vipin Kumar - his boss, last year when I visited their office to discuss an investment in real estate. Javed followed-up with me relentlessly and convinced me to invest 1.35 Lacs in a project named - La Gracia by Newtech builder in August 2011. He promised that he will sell off the property in three months and I would not have to pay the next demand.

Two months later, in November 2011 he convinced me invest 2.5 lacs more in Jaypee Greens - Garden Isles with the same promise.

In the second case two things were made very clear:

- The rate of investment was decided as 3840 psf
- It was to be CLP plan just like the previous investment.

Since he was not able to sell off either of these properties till December and kept giving false promises, I called up Mr Vipin in December to complaint against him. Vipin assured that he will take care of the matter.

To my utter shock and dismay, I received a letter last week from Jaypee, stating that a total payment of 46.88 Lacs was due in December and if not paid with-in next 30 days, the allotment will be cancelled. Also, the interest was being charged @ 12% p.a and amounted to Rs 2.84 Lacs!! On further probiong I found out that the plan had been taken under subvention scheme, in which the entire amount has to be paid at one go, without my knowledge at Rs 3890 psf!!

When I spoke with Vipin, he informed that Javed was fired from job 15-20 days ago for such malpractices and When I asked him that why was I not informed about it, he said he was about to call me!

I visited the Jaypee Office on 10th June with Gaurav from investor's clinic to discuss my options. I was told that they may put me on CLP plan but will confirm on the same. After a lot of follow-up I got a revert saying that I will have to make 50% (23 Lacs) payment to be on CLP!!

I am in tremendous stress for the above reasons and on the verge of losing all my savings because of a fraud committed by investors clinic employees. There's been no help coming from anywhere.

Would request you to please register this as a formal complaint and get this issue resolved immediately before I resort to legal solutions.