Me and my brother-in-law had applied for loans from Downtown investment consultancy pvt ltd in the month of Dec'09. I had applied for LAP(Rs 25 lacs) while my borther-in-law had applied for a personal loan(Rs 5 lacs). I was charged a processing fee of 1% while my brother-in-law was charged Rs 3500/-. Then the company representatives came down in Jan'10 for a customer verification visit and informed us that I would have to pay 1% more if I wanted to provide private guarantors while my brother-in-law was to pay 2% for same. In case we wanted to provide government employees as guarantors, then we did not have to pay any of the above. We went ahead with private guarantors as we did not know any government employees who could stand guarantee for us. Till this point both of us had paid Rs 37500(I had paid 1% initially and .5%after the verification visit) and Rs 13500 respectively. I had also negotiated that the balance 0.5% would be paid on disbursement of the loan amount.
All the above activity was carried out through the company DSA, Mr. DINESH PATHAK, who also happens to be an employee of CMS infosystems ltd.

This happened in the last week of Jan'10 and till March'10 we were not being provided our verification reports with the guarantor details and other required documents. I was trying to contact the company DSA, Mr. Dinesh Pathak, since 6th March'10 to inform him that we did not want to go ahead with the loan processing as we did not have any trust left in the company.Since I could not contact him, I sent across an SMS informing him of our decision.On 9th of March'10 again I sent Mr.Dinesh Pathak an SMS stating our decision to back out of the process and mentioned the amount which he had to return.Within 5 hours of sending him the SMS we were provided our verification reports which we rejected on grounds that we had already withdrawn from the process.

Since then I have been following up with him for refund of the processing fees and he always keeps taking into conference call one Mr. Ajay Sharma who is supposed to be the point of contact from Downtown Investment Consultancy Pvt Ltd. Despite numerous conference calls and email to Mr. Ajay Sharma, the response is that he has forwarded the request for refund to his funder's legal department and that he will be sending across the amount once it is received from the legal department.

It is almost 4 months now but the answer remains the same.

I would like to know under which section can I have the company prosecuted for receovery of our dues.

Originally Posted by hsegoy

Me and my brother-in-law had applied for loans from Downtown investment consultancy pvt ltd in the month of Dec'09. I had applied for LAP(Rs 25 lacs) while my borther-in-law had applied for a personal loan(Rs 5 lacs). I was charged a processing fee of 1% while my brother-in-law was charged Rs 3500/-. Then the company representatives came down in Jan'10 for a customer verification visit and informed us that I would have to pay 1% more if I wanted to provide private guarantors while my brother-in-law was to pay 2% for same. In case we wanted to provide government employees as guarantors, then we did not have to pay any of the above. We went ahead with private guarantors as we did not know any government employees who could stand guarantee for us. Till this point both of us had paid Rs 37500(I had paid 1% initially and .5%after the verification visit) and Rs 13500 respectively. I had also negotiated that the balance 0.5% would be paid on disbursement of the loan amount.
All the above activity was carried out through the company DSA, Mr. DINESH PATHAK, who also happens to be an employee of CMS infosystems ltd.

This happened in the last week of Jan'10 and till March'10 we were not being provided our verification reports with the guarantor details and other required documents. I was trying to contact the company DSA, Mr. Dinesh Pathak, since 6th March'10 to inform him that we did not want to go ahead with the loan processing as we did not have any trust left in the company.Since I could not contact him, I sent across an SMS informing him of our decision.On 9th of March'10 again I sent Mr.Dinesh Pathak an SMS stating our decision to back out of the process and mentioned the amount which he had to return.Within 5 hours of sending him the SMS we were provided our verification reports which we rejected on grounds that we had already withdrawn from the process.

Since then I have been following up with him for refund of the processing fees and he always keeps taking into conference call one Mr. Ajay Sharma who is supposed to be the point of contact from Downtown Investment Consultancy Pvt Ltd. Despite numerous conference calls and email to Mr. Ajay Sharma, the response is that he has forwarded the request for refund to his funder's legal department and that he will be sending across the amount once it is received from the legal department.

It is almost 4 months now but the answer remains the same.

I would like to know under which section can I have the company prosecuted for receovery of our dues.

Dear All,


Please find the below steps to lodge a complaint with Govt of India and Punjab Police against the Down Town Investment Company.

for Complaints and details go to :: Ministry of Corporate Affairs ::
right hand side u shall find an icon as mca 21
click on it
then click on company master data
then left hand side click view company master data
type the cin no.U74140PB2009PTC033369 of the down town investment company the space given
and submit and u shall find all the details about the company.
then left hand side click investor grivences and select logdge complaint
Fill the complete form and attach the receipt or funds transfer details if any, submit the form.

Please take a printout of the form and submit it to the Chandigarh Police with all the documents and receipts on given email id

For SSP Mohali Shri.Gurpreet Singh Bhullar ssp.moh.police@punjab.gov.in Phone No. 01762-380111

District Police Office Mohali dpo.moh.police@punjab.gov.in

PS Zirakpur (Mohali) ps.zrk.moh.police@punjab.gov.in

PS Zirakpur 091-01762 521169

PS Lalru 091-01762 274223

PS Dera Bassi 091-01762 522041

Please log a complaint so we can fight together