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I NEED HELPPPP....

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Deal Cadet
official_man...

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.. 

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Top Comments
Deal Cadet Deal Cadet
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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.

Deal Subedar Deal Subedar
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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. 

Deal Lieutenant Deal Lieutenant
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official_mandar_joshi wrote:
I know bro and I agree with you. I have been a biggest idiot. I still wonder how did I agree to all the things they asked me to do.. I am solely responsible for making my whole family's life Misérable and living hell..  😌 

I can't even think of committing suicide because that won't repay the loan amount to the banks. 😔
Time heals all wounds, Be strong one way or other you will overcome this journey , it will not easy but it will happen. Have peaceful mind , do yoga or meditation . It will remove evil thoughts from your mind. With Peaceful mind one can overcome any challenges .So again I am repeating myself Be strong and have peaceful mind.




 
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Deal Lieutenant Deal Lieutenant
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I feel so sorry for your situation.

Deal Cadet Deal Cadet
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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.

Deal Cadet Deal Cadet
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If someone living in Pune please help him. 🙏🏻

Feel sad for your situation brother.

Edit- It's a fraud company. I just checked their review on Google and other sites. Your not only one...

Benevolent Benevolent
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Is that house+land in your name? Try to find sellers for it and settle some amount with the bank. It will be very hard for you to get a credit card and loan if you follow this way but this the only legal way out.
Deal Lieutenant Deal Lieutenant
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Feel sorry for you ,but there are lots of blunder from your end from the start , not so much worth to point it now , i only can upvote this discussion so it reach more people and you get proper solution 

Generous Generous
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Yaper is a good alternative where you can place order for people using your CC and get liquid money in return. I have been using it for 2 years, faced till problem till now.

Deal Cadet Deal Cadet
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xedo123 wrote:

Feel sorry for you ,but there are lots of blunder from your end from the start , not so much worth to point it now , i only can upvote this discussion so it reach more people and you get proper solution 

I know bro and I agree with you. I have been a biggest idiot. I still wonder how did I agree to all the things they asked me to do.. I am solely responsible for making my whole family's life Misérable and living hell..  😌 

I can't even think of committing suicide because that won't repay the loan amount to the banks. 😔
Deal Lieutenant Deal Lieutenant
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official_mandar_joshi wrote:
I know bro and I agree with you. I have been a biggest idiot. I still wonder how did I agree to all the things they asked me to do.. I am solely responsible for making my whole family's life Misérable and living hell..  😌 

I can't even think of committing suicide because that won't repay the loan amount to the banks. 😔
Time heals all wounds, Be strong one way or other you will overcome this journey , it will not easy but it will happen. Have peaceful mind , do yoga or meditation . It will remove evil thoughts from your mind. With Peaceful mind one can overcome any challenges .So again I am repeating myself Be strong and have peaceful mind.




 
Deal Cadet Deal Cadet
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aravindh_ramachandran833 wrote:

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 agree with you Aravindh sir. Just for some ROI, I should not have taken such a big risk but I did speak with 3-4 guys who were with ashtavinayak from 4-5 yrs and they were getting the EMIs on time. We are waiting for the FIR. Banks already have come to know about this and now they know they wont be getting any EMIs for almost 270+ accounts as most of the banks are common among the victims. So they will definitely ask for one time settlement or loan rescheduling. I have put my home for sell. Once the deal is closed, I'll be ready for the one time settlement. I hope I'll be able to come out of this soon.. This is so stressful.. 😭
Deal Cadet Deal Cadet
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kshmr wrote:

Yaper is a good alternative where you can place order for people using your CC and get liquid money in return. I have been using it for 2 years, faced till problem till now.

Thank you, I'll check it.. 
Deal Cadet Deal Cadet
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official_mandar_joshi wrote:
I agree with you Aravindh sir. Just for some ROI, I should not have taken such a big risk but I did speak with 3-4 guys who were with ashtavinayak from 4-5 yrs and they were getting the EMIs on time. We are waiting for the FIR. Banks already have come to know about this and now they know they wont be getting any EMIs for almost 270+ accounts as most of the banks are common among the victims. So they will definitely ask for one time settlement or loan rescheduling. I have put my home for sell. Once the deal is closed, I'll be ready for the one time settlement. I hope I'll be able to come out of this soon.. This is so stressful.. 😭
Stay strong brother. Every one goes through bad phases and gets cheated in our country in name of ROI and financial advisors.

I also suggest you to check whether restructuring of loan is feasible within your budget every month instead of selling your property which can be kept as a last option.. If its personal loan with 5 banks you would have housing document with you which you can try mortgaging to weather the storm.

Check those documents which you entered with investment firm and see whether power of attorney is given or how they managed your portfolio with your money. Take some legal guidance for the same. It will cost you some small amount but chance of getting portion of your settlement back is high if that absconding person's assets are seized and if you are a creditor as per court verdict.
Deal Cadet Deal Cadet
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Omg. Stay strong.

Helpful Helpful
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I feel sorry for your situation and can’t even imagine in how much stress and pressure you must be in but all i can say to you is stay strong 💪
Deal Subedar Deal Subedar
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Our country's lawy is just fuck*d up. How easily they can fly away to different countries and live their life comfortably while those affected in India have to suffer.

Deal Newbie Deal Newbie
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official_mandar_joshi wrote:
I know bro and I agree with you. I have been a biggest idiot. I still wonder how did I agree to all the things they asked me to do.. I am solely responsible for making my whole family's life Misérable and living hell..  😌 

I can't even think of committing suicide because that won't repay the loan amount to the banks. 😔
Whatever happened in past cannot be changed now, remember the lessons learnt, just stay strong and keep the thought that, what all stress and pressure you feel is just a state of your mind. Dont allow your mind to think what will happen in future, just decide for today everyday. Take inspiration in a positive way from the willful defaulters who cheated banks in lakhs of crores and are still at peace. Most importantly, spend more time with family in these difficult times.
Deal Cadet Deal Cadet
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I'm really thankful to each and everyone here. I'm really glad I'm part of Desidime family.. pray pray

Deal Subedar Deal Subedar
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Sorry for your loss brother.

Take your time, don't be hard on yourself. Time will heal the wounds, I know it will be very painful while time takes it's time to heal up the wound but that's the process.

With that being said, stay strong don't let negative thoughts wander around your mind, they might trespass inside your mind If you let them wander around.

Secondary, don't know where they were investing but I have a strong feeling that with such large amount of scam money they might have used in pump & dump schemes of penny stocks.

Usually, this is how these schemes works first they pay everything on time to gain trust of everyone and then thry give their final ultimate blow.

Something similar happened with my dad, he had invested in some scheme with private named VGN Jewellers, lost around ₹15000 & he still doesn't listen to anyone before investing money but that's story for some other day.

Take care brother, I hope you come out of all this soon.

Best of Luck...!!!
Deal Newbie Deal Newbie
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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.

Benevolent Benevolent
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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

Critic Critic
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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.

Deal Lieutenant Deal Lieutenant
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Have you tried contacting them in Dubai info that is shared on their website. They have strict laws!
Deal Subedar Deal Subedar
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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. 

Deal Cadet Deal Cadet
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SunnyKh wrote:
Have you tried contacting them in Dubai info that is shared on their website. They have strict laws!

Some people staying in Dubai did go to their office address but it was already closed..

Deal Cadet Deal Cadet
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kshmr wrote:

Yaper is a good alternative where you can place order for people using your CC and get liquid money in return. I have been using it for 2 years, faced till problem till now.

Hi bro.. plz check your inbox

Deal Subedar Deal Subedar
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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.

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