Complaint Regarding DataTrained Course Fraud and Credit Fair Loan Misrepresentation

Question

► In 2023, I enrolled in DataTrained’s Investment Banking course for ₹1,20,000. I was assured of a ₹50,000 refund in case of non-placement. The fee was financed through Credit Fair. The course and placement support were not as promised. When I tried to contact DataTrained regarding the refund, including Mr. Manik Arora, I received no satisfactory response. When I later tried to verify DataTrained, I found no functioning physical office at the stated address and the concerned persons became inaccessible. I later understood that the Credit Fair facility was structured as a personal loan. I repeatedly requested the complete loan agreement, payment/disbursement details and transaction records, but Credit Fair has not properly provided these documents or responded to my written requests. At the same time, their representatives continue repeated recovery calls/communications, causing harassment and pressure. I am from a middle-class family and ₹1,20,000 is a substantial amount for me. I already have another loan and this situation has caused serious financial hardship. I am not trying to avoid any genuine payment. I want the documents and a fair resolution/settlement after the facts are verified. My main concern is whether there was any connection, referral arrangement or coordination between DataTrained and Credit Fair in relation to student financing. I want to know what legal action/remedies are available against both entities and how I can seek refund/compensation and protection from improper recovery harassment. I have emails, loan-related documents and other supporting evidence. Please advise me on the appropriate legal remedy and the authorities/forum where I should file the complaint.

Answer 1

Dear Client,

I understand you concern and based on it i shall give you my legal advice.

You have fallen into a trap of Ed Tech Lending, where the students are lured into taking courses and then convert those course fees into personal loans.

Yes, there is a connection between Data Trained and Credit Fair, they work together in a systematic way to fraud students and professionals and, as per the RBI Guidelines for Digital Lending Credit Fair is a lender and the Lender Service Provider is Data Trained.

You have a several legal remedies to deal with your matter. Firstly you can file a complaint against the companies in the RBI portal as well as in National Cyber Crime.

Secondly, you can file a complaint in the RBI Complaint Management System if ,30 days time period crosses after writing the grievance to the companies.

Thirdly, you can also file a police complaint for criminal breach of trust and cheating under Section 316 and 318 of Bharatiya Nyaya Sanhita,2023.

You can also contact the National Consumer Helpline for help. If this does not work out then you can send a legal notice to the concerned companies for fulling the promise of refund if the placement is not fair and to provide the details of the loan documents and to contact you within 15 days.

Further, if they do not respond you then you the option of filing the Consumer Complaint for deficiency of services.

Hope this answer helps!

If you require detailed legal advice, discussion of your documents, or guidance regarding the further legal course of action, you may opt for a one-to-one consultation.

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Complaint Regarding DataTrained Course Fraud and Credit Fair Loan Misrepresentation

1 Answer