Those who lost their money in b-schools,can NOW get it BACK!enter to know how

manish_bengani · 10:56 AM

Might be of use to some who have got multiple calls!! Now, no need to worry if you have deposited tution fee in an institute.... A few months ago,the Consumer Court had directed SP Jain to refund 1.4 lakhs to a student, provided the seat which the student left was filled by someone else (which is obvious since they have waitlists)

Read the excerpt below which i got from a newspaper on google!
MRTPC move to benefit many students
September 21, 2006 13:12 IST

In a judgment that can benefit a large number of students who change educational institutes during competitive exams such as Common Admission Test (CAT), the Monopolies and Restrictive Trade Practices Commission has told Mumbai-based S P Jain Institute of Management and Research to return Rs 1.4 lakh (Rs 140,000) to an applicant who later took admission in IIM-Lucknow.
"We find that the respondent (SPJIMR) has indulged in unfair trade practices and also brought about additional cost on the applicant by forfeiting the entire amount," MRTPC acting-chairman M M Sardana said.
He asked the institute to refund Rs 1.4 lakh to one Varun Gupta within six weeks.

The commission held that the scheme of changing from an institution to the other by a student was "inherent to the entire system . The institute is not expected to make undue gains particularly in a situation where the system allows the candidate to change their institution before the commencement of the course," Sardana said.

The institute had mentioned that Gupta would have to deposit a sum of Rs 1.4 lakh, which was non-refundable. As per instructions, Gupta took admission by submitting Rs 1.4 lakh.
Later, he got a confirmed call from IIM Lucknow and took admission there. He also informed SPJIMR and sought refund. But, SPJIMR refused to return the fees paid as per the terms of admission, forcing the candidate to approach MRTPC against the institute for indulging in unfair trade practices.

In his petition, Gupta said, SPJIMR's action amounted to restricting the competition, leaving no scope for candidates to exercise options with their CAT score and would burden them with additional cost.
SPJIMR countered Gupta's contention and said the institution suffers loss if an admission is cancelled.

However, the commission rejected this contention and observed that Gupta had informed SPJIMR within a week. At that time a waiting list of candidates was available and the institute could have filled the seat.
MRTPC compared the admission cancellation process of other institutes and found that in most cases only a part of tuition fee is deducted and substantial fee is returned.

The commission felt that the institute's action amounted to "restricting the choice of candidates."
"The institute would naturally be making financial gains at the cost of students while it is not making any financial loss correspondingly," the commission observed and directed the institute to return Rs 1.4 lakh to Gupta within six weeks.
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Saxena (a lawyer )is willing to take up the case. "If many students complain to me I will file a PIL ."
Students who have lost money to a Bschool and wish to file a PIL may contact
Nilesh Gupta & Arun Saxena, ICRPC . Their email-ids are at the bottom of this page
http://www.jammag.com/careers/n/showart.php?art_id=150
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Hope none of us lose money in the run-up to b-schools....I have done my bit, please tell this to as many students you know who are applying for higher education.
Manish.

abhi_g1

thns manish for making a new thread for this and emoving u r email ids.

but please go and press edit and delete the material on all the threads on which u have posted it will not solve the purpose

whoso ever wants to express his/her views will do the same here

thnx again

Pokhi_Fokhi

i think thats the reason why S P jain hasnt come out with results by now. They were really making lot of money this way.

vineetb5

Hi
i have a convert from a nice B-skool and have given 75 k for securing admission. also i have a call from another skool which is better than the first one.
earlier i was thinking joining the first one and not letting my money go down the drain...but now i m thinking of joining the second one and allso getting my money back from the first.

Thanks for posting this stuff here.

Please give us a detailed procedure of how to do it and also the expenses incurred in doing so.

Thanks in advance.

ninja_talli

this has been already posted on PG earlier... There was also mention of another person going against one of the simbi colleges in a similar manner thru a court appeal. Dunno the thread thou

manish_bengani

Below is the link to know, how you can file a PIL , cost, timeframe, etc!
Filing Consumer Complaint at Consumer Court in India

It says that the case normally takes 1-2 years...But believe me, last year my cousin filed a PIl against one of the premier b-schools since he was about to lose 65 K . Soon after he did that, the MRTPC issues a notice to the concerned institute. And they with fear of having to incur penalties & also fear of investing time & money in courts, refunded his money, within a month.

ATB!

nitinspeaks

hi
thanks for this post.
it was really usefull. It not only happens in Bschools but also in Engg colleges also.
my frnds had many bad experiences. So its nice to hear about it and will tell about it and make them aware about....

subodh_iit

Good Work.. Manish..

May help me if I am in waiting list of some IIM..

However I am hoping that matters do not come to such an end..

And not to other end either, where I am not even selected..

Still I am prepared for the worst..

DreamRun

Quote:

Originally Posted by manish_bengani

Below is the link to know, how you can file a PIL , cost, timeframe, etc!
Filing Consumer Complaint at Consumer Court in India

It says that the case normally takes 1-2 years...But believe me, last year my cousin filed a PIl against one of the premier b-schools since he was about to lose 65 K . Soon after he did that, the MRTPC issues a notice to the concerned institute. And they with fear of having to incur penalties & also fear of investing time & money in courts, refunded his money, within a month.

ATB!

dude this is abt a NGO and not a consumer court....

manish_bengani

dude, read it properly!! it says clearly
"International Consumer Rights Protection Council is registered, NOT political NGO that helps the consumers in distress"....it's not an ngo...

and this is not even the website of the consumer court!! but a council as you can see, which has been formed by a group of lawyers! and arun saxena, who's photo is put up is the president! contact his organisation. it is there on the website how to contact and all that. If you have further queries, you can ask me.

Regards