Hi Guys,
I am Mandar Joshi from Pune. I am going to ask for a help from all my fellow dimers..
I have been scammed by a company in Pune called as Ashtavinayak Investment by asking me to take Personal loans on my name. Issue is, we had bought a plot in Pune in 2017 and was looking for a loan to construct our home but at that the plot was not NA and was in grampanchayat area due to which none of the banks were ready to give us loan. So after trying with multiple banks for almost 8-10 months, finally we decided to go for Personal loan of around 10-15L so that we can construct at least ground floor and stay. While checking for loans online, some how my number got leaked to this company Ashtavinyak Investment. They called me and asked for my requirement. I told them I need 25-30L loan. They said we will give you loan of 30L at the ROI of 7% per annum but we have a condition. We will use your profile and get maximum eligibility loan on your profile. From that amount we will provide 30L to you and remaining we will invest in our different verticals like Gold, Black pepper and cotton import export, Commodities and Stock market. Whatever amount we will use we will pay EMI for that for 30L you pay EMI at 7% ROI.
They clubbed my and my wife's profile and applied in 5 different banks at a time in parallel and managed to get 1.10Cr worth of Personal Loan that in less than 2 days. They made an agreement with me to pay all the personal loan EMI's on time and used the loan amount from me for their investment purpose. I was promised fixed returns on this amount after the loan tenure. They took multiple loans in my name from various banks and used that amount for their investment purpose. The total EMI amount is 2.60L out of which they used to pay 1.90L and we used to pay 70K and EMIs were getting paid from our banks. This was going on smoothly for last 2+ yrs but from last 4-5 months there was some issue with them and they started to delay the EMIs.. For 2 months they didnt pay at all and I had to pay full EMI from my pocket. They took meetings and assured everything will be streamlined in 2-3 months. We believed them. but on 22nd Feb the owner Selva Kumar Nadar fled and now almost 270+ people are under huge burden. I still have 80-85Lac Rs of loan outstanding and now I am left with no money. Also I had to use my Credit cards for daily expenses as my salary amount was getting deducted due to these loan EMIs. I had thought once I get money from Ashtavinayak, I will clear the CC dues. 😔
Now to pay the CC bills, I am left with no money. So I want to request all of you, if you are planning to buy anything online and going to use cash, please give the same to me and I can pay the bills and order from my card so that at least my bill can get shifted to next month unless we have some solution to this issue. 🙏🏻
All the investors of this fraudulent scheme have filed a complaint with the Economic Offences Wing (EOW) and Commissioner of Police for the same and the investigation is currently underway. FIR copy is awaiting as commissioner office is still collecting the data as many people are victims and it's a huge fraud.
I am sorry if my post took some of your precious time..
6
I feel so sorry for your situation.
I am very sorry for your trouble. But this is a red flag right from the beginning. Excess loan borrowed on your name with assured ROI in commodity trading is a bad way to plan your finance.
You can try approaching the 5 banks, explain your situation and try for a credit restructure to save yourself and your property. Explain the same to cc company and restructuring them as emi if possible.
I'm really thankful to each and everyone here. I'm really glad I'm part of Desidime family.. 
Stay strong and work yourself out of this bad situation and learn from it. It's easy to fall for such scams. Even my well educated Uncle fell for a home construction engineer who quoted half the cost. Even I didn't find it odd and didn't advice against giving the engineer 10 Lakhs and he ran away with it. He is some relative of some MLA and he sent a notice from his lawyer to all the person he scammed before we can even file a notice. They filed some FIR but you know he will get away with it. He came in some nice audi car to scam my uncle and I too was not doing my research.
Stay strong, now is time for test which everyone faces in their life, since u invited this issue so don't regret and I guess you are lucky as the amount is 85lacs around, imagine those who just started OMG
had you asked here just once things would have been totally different today
Talk to local fuel stations, they swipe card for 1-2% and give cash
do not go for other hot loans from local vendors, negotiate with banks for less interest rates
Take care of your health and ur family's very important: drink lots of water juice...etc
Wish u good luck and waiting for next update
If FIRs have been filed & owner already fled then try to negotiate with banks for a settlement based on reduced EMIs for a much longer duration or see if the property you have can be used as a collateral to refinance all the loans.
Some people staying in Dubai did go to their office address but it was already closed..
I'm sorry to hear about your situation. Before investing, you had a solid alibi, and I don't think it was due to a lack of awareness; so it's not your fault there.
The good news is that you seem to be both technically and emotionally aware, which means you won't make reckless decisions. However, the legal process and settlements can take a very long time. I suggest checking your credit card interest rates, as now might not be a good time to consider another high-interest option.
Frauds like this are unfortunately common, and they can often leave people unemployed and struggling. Thankfully, you still have your job, and your positive attitude is admirable.
You might have to work harder for the upcoming months. if you consider any side hustle, feel free to approach me/us and I will try my best to get you references/business.
@medusa bro.. why are you laughing? Did you find anything to laugh in it??
Bro I asked you for your phone number which you didn't provide or bother to reply also. Did a transaction of 26k, which i could have done via ur card and deposited cash in your account. In this way you could have paid your credit card bill and earned some cashback or points.
I'm sorry bro.. I forgot to reply was busy in meetings with lawyer. Sorry.. thank you for your gesture.. 
Hi , I am also affected same type of scam in 2020 still struggling to come out .Please mail me your number i will call you ,we made some mistakes so you people should not make those in this case .it is unique case ...please ping me
Sorry for your loss, but you have to be careful while dealing with unknown finance company. Short cut always gives a problem later. I know it's hard to get large personal loans from banks with so much money paper works & verifications.
People should be made aware of these financial frauds through WhatsApp messages. Instead of putting happy birthday, happy anniversary, happy teacher's days messages, we should start putting these things as a WhatsApp status.
