Citizens' Issues
Maoists’ violent acts are damaging the cause of the tribals in Chhattisgarh

The real reason for Maoist presence is the indefensible antipathy of the government to follow the policy of development with justice to the tribals, which alone will make Maoist influence wither away

The recent murderous attack by Maoists in Chhattisgarh resulting in death of 28 persons, including key state Congress leaders, their security officers and ordinary villages of area, has to be treated as a diabolical act by the self-styled leaders of the “revolutionary movement”, CPI (Maoist), who delude themselves that they are struggling for bringing about a revolution of workers and peasants.
 

One of the seriously injured persons, senior Congress leader VC Shukla, died on Wednesday, 12 June 2013. In fact, I would describe the activities of these ‘revolutionaries’ a massive mad act which has damaged greatly the cause of tribals. It is also most foul as Maoists have tried to stop political activity they do not agree with through violent means. Their politics is as evil as those they claim to be fighting against and should be rejected outright by all those who stand for democratic norms in political struggles for peace with justice.
 

If people expected that the two major political parties will, realising the urgency of the situation, forget their petty public posturing, they were mistaken. While Union home minister Sushilkumar Shinde and chief minister Raman issued a statement that they are going to work together, state Congress leaders have announced that they are boycotting the all-party meeting called by the Chhattisgarh chief minister. Even within Congress high-ups there is now a sharp division —while one central minister, who used to take a somewhat humanitarian approach to the Maoist problem, now calls them ‘terrorists’, a Central tribal minister has rightly warned against this approach and reproached the state government for having encouraged Salwa Judum’s sinful strategy, and which was also so commented adversely by the Supreme Court.
 

Even the normally conservative Planning Commission has suddenly thought fit to suggest universal coverage and to do away with the BPL test in 22 most backward of 82 IAP districts. Did we need these murders to face the reality of the total deprivation of the tribals and their desperation, which provides easy catch to Naxalite groups?
 

Naxalite leaders have made no secret of their aim. They feel (though in my opinion they are disastrously mistaken) that by spreading terror and trying to keep some areas outside the civil authority, they would one day be able to launch a fierce onslaught to capture political power in Delhi even if they are said to have a strong presence in 185 districts out of the total 607 districts. This is because the Indian state, however weak, will never be so weak as to allow itself to be taken over by such rump groups, even if it is able to equip itself with some arms—the fire power of a modern state is too overwhelmingly superior to Maoist groups. The real reason for Maoist presence is the indefensible antipathy of the government to follow the policy of development with justice to the tribals, which alone will make Maoist influence wither away.
 

But that requires taking on the corporate sector which is ravishingly exploiting the mineral wealth and denying to the tribals even their modest share. Why does the government not accept the suggestion of human right organizations, including the PUCL, to hold public discussions on this vital matter in the presence of tribal leaders, among others? Is the reason the presence of many mine owners belonging to the ruling party at the Centre? This charge finds support from the continued detention of Soni Suri, a social worker among tribals, on a fake charge of being a conduit for passing money to Maoists on behalf of a mining company given to her by the company’s contractor—inexplicably he has been denied bail, but the contractor or the owner has not been arrested. One is pained to see this strange nexus between the ruling party and the corporate sector.
 

Of course, I accept that the Maoist act of brutality and terrorism can never be justified, even if they be in response to equally heinous and brutal acts unleashed by the security forces, as we are seeing presently in Chhattisgarh. This situation no doubt poses a knotty question and the Supreme Court has answered thus: 
 

“Indeed, we recognise that the state faces many serious problems on account of Maoist/Naxalite violence. Notwithstanding the fact that there may be social and economic circumstances, and certain policies followed by the state itself, leading to the emergence of extremist violence, we cannot condone it. The state necessarily has the obligation, moral and constitutional, to combat such extremism and provide security to the people of the country. 

“However the primordial problem lies deep within the socio-economic policies pursued by the state in a society that was already endemically and horrifically suffering from gross inequalities. Our Constitution provides the guidelines within which the state is to act, both to assert such authority to transgress those guidelines is to act unlawfully, to imperil the moral and legal authority of the state and the Constitution.”
 

It is, however, very important that the revolting nature of extremist acts cannot serve as a basis or pretext for the governments to disregard their national and international obligations, the caution highlighted by the International Council of Jurists in its Berlin Declaration on 28 August 2004, namely that “both contemporary human rights and humanitarian law allow states a reasonably wide margin of flexibility to combat terrorism without contravening human rights and humanitarian legal obligations.    

A warning has been given in a report titled “Development Challenges in Extremist Affected Areas” by an expert group constituted by the Planning Commission of India in the following manner: “In the case of tribes in particular it has ended up in destroying their social organization, cultural identity, and resource base... which cumulatively makes them increasingly vulnerable to exploitation.”
 

And yet, all that the government does is not to face the causes of the rage and despair that nurture such movements. Instead, it considers the matter as a menace, a law and order problem that is to be rooted out with the use of force. This cycle of mindless violence and counter-violence may continue unless the state honestly acts in the interest of the poor and the tribals, and does not connive with corporate mine owners in their exploitive acts.
 

(The writer is a former chief justice of the Delhi High Court.)

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COMMENTS

SuchindranathAiyerS

4 years ago

This is the summum bonum of all conflicts i.e. politics. After providing the protagonists with a cause celebre (excuse) they become irrelevant. This is no different from the sixty five years that have been devoted to looting and raping the poor and helpless of India for their benefit! The only beneficiaries of Indian independence have been the ruling elites and their cronies!!!

Mun Mohan Kale

4 years ago

Maoist activities are just akin to Terrorist activities. Only innocent lower strata & tribal people are affected. All these years govts showed apathy towards travails of the people as the ruling party leaders are not affected. Now with Chattisgarh incident as congress leaders are killed a big hue & cry is being made. What have the govts done to develop the areas & wean away locals from the Maoists. Some tangible action is required. Even now they are contemplating stricter measures. Existing laws are enough if they are properly & promptly implemented.

Zen Technologies case: Do SEBI buyback rules favour big investors like Rakesh Jhunjhunwala?

Zen Technologies bought the 10% stake of Rakesh Jhunjhunwala @ Rs70, under its ongoing buyback offer. This left hardly any buyback from retail investors which boils down to one rule for the big investor, another for the small guys

 

Zen Technologies was in the market to buy back upto 18% of its equity, i.e. 16 lakh shares up to a price of Rs90. A fair rule would have meant that the company would have bought shares in equal proportion from all the shareholders. However, Bosco Menezes, an investor, points out that the company has conveniently almost finished its buyback offer to the extent of 9.5 lakh shares in buying the bulk of the 10% stake held by big investor Rakesh Jhunjhunwala in the company.  Jhunjhunwala holds 9 lakh shares while Zen has bought 892,405 shares out of his stake @ Rs70, under the ongoing buyback offer. This leaves the company just 6.5 lakh shares to buy from the public.
 
The question is, why are small investors not allowed to exit on similar favourable terms, as Jhunjhunwala, asks Menezes. If the company is willing to spend big money—Rs6.25 crore—to allow Jhunjhunwala to exit, why not spend a few lakhs to allow some small investors to exit on similar terms (around Rs 70)?
 
The scrip was hovering around Rs70 for long but immediately after the buyback, it collapsed to around Rs60, though only around 4,000 shares have been traded since 10 June 2013. Clearly, the company has given an option to Jhunjhunwala on favourable terms, which he would not have managed, if he used the public market to sell his 9 lakh shares. 


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COMMENTS

Srinivas

4 years ago

This does not seem like an article but more like a forum to publish the complaint from Bosco Menzes who is a long term shareholder of the company being mentioned in this article

Please do your own analysis before writing an article, atmost you can quote from a shareholder but not put in verbatim everything the person says.


Let me present a few facts before the author on this company.

First, Zen Technologies sold 9 lakh shares to RJ at Rs 125 each in 2008 and bought back the same shares at Rs 70 each after 6 years. That is a pure profit of Rs 5 Crore plus with no dilution to shareholding. Best Return on Capital Employed. In these six years the Net worth of the company doubled. If you are a shareholder you will applaud the management for this.

Second, Rakesh Jhunjhunwala sold his shares in buyback almost one month after the buyback stared. During this one month if you look at the shares traded, hardly any shares were offered for buyback because everybody expected to sell around Rs 90 which is the upper limit the company had offered in the buyback.

I am assuming RJ might have called up the registrar and informed that he is willing to put up his shares as block and would the company buy the block at Rs 70.

If I am the management, I would have taken a decision to take that offer immediately because buying the same 9 lakh shares in open market would have taken the share price to 130 - 140 as there was no liquidity. This is a business decision, agreed RJ if he had wanted to sell his shares in the open market the stock would have tanked, but his zen stake is less than 1% of his total portfolio, being a shrewd investor he is, he would never sold in this bad market. So, it is ZEN which got the better deal by buying RJ's share.

Third, now that RJ has sold his stake, everybody wants to sell their shares too...again If I am the management, I have already bought 9 lakhs shares and I have the mandate to buy 16 lakh shares and the total amount I have for buyback is 10 crores out of which I have already spent 6.3 crore to buy RJ's share. At what price should I buy to buy a total of 16 lakh shares i.e at Rs 53 per share. ( Do the Math )

when there was no supply from open market it does not make sense to buy shares at high price and RJ offers you take it.
RJ made a good decision and Zen Management made an excellent decision.

Now there is a huge supply of zen shares and I as a management want to make the best bang out of my buck, I will wait for the right price i.e 53


If you are an existing shareholder which I am for a long time, it is time for me and you to jump in joy. Your company is making the biggest bang out of its buck. Your share is more valuable today than it was before RJ sold and it will be much more valuable when the company buys the rest 7 lakh shares at Rs 53.

If you are RJ follower, then you will cry and go to other people who will feel pity for you. If you do not have the sense to do your analysis, you will suffer for other's follies.

I am not saying it was a mistake by RJ to buy Zen, no one is super god when it comes to buying shares, even warren buffet has his share of duds and RJ is not an exception to this rule.


But, following a herd mentality will only lead to tears and suffering which the comments section in this article is showing.

If you are that lucky shareholder who still has shares in this company, then I suggest that you go ahead and buy more shares, any management which has made profit from even RJ is a management you should stick with.


I am sick of Bosco Menzes and others who cry for their losses and blame others for their actions.

Be a man and own your mistakes.

And to the author, you are in a financial magazine, not a social magazine, if you feel sorry for the ex-shareholders write about it in your life section but if you want a career in the business section, think like a businessman and write like one.

My name is Srinivas M and I am a shareholder since 9 years. If you want a open debate on this you can come to the AGM this year.

REPLY

Bosco Menezes

In Reply to Srinivas 4 years ago

Hi Srini,

Please get one fact correct first right at the begining - I am NOT a shareholder of Zen Technologies. I was indeed a shareholder in the past, which is why i still track the company.

If you have read the comments section, you would have seen that i have already mentioned in one of my posts that i do not hold shares in the company. But maybe you have indeed read that, as you refer to "ex-shareholders" later in your post.

Your point is that the company has made money (got a bang for it's buck).

My point is exactly what i have said before - If you are helping a big shareholder (in this case RJ) to exit at one rate, do please allow the small shareholder the same courtesy.

And precisely because the big shareholder exiting happed to be RJ, who has a huge fan following, management of Zen Tech should have been extra vigilant in the next few days to make sure that follow-up selling from retailers was picked up at around the same level.

I absolutely reject your contention that management should try to buy the remaining shares at Rs 53, i.e. 24% discount to RJ's exit price.

I think that that would be extremely unfair to those shareholders who may want to exit in the buyback offer (whether influenced by RJ's exit or not). We can have a difference in opinion on this, but i am clear in MY mind that it would not be the ethical thing to do.

Regds,

Bosco

Bosco Menezes

4 years ago

Today again weighted average price of Zen Tech was Rs 63.49 on BSE.
I fail to see why the company cannot keep a buy order at Rs 70 which shareholders can fill in ?
PS : Just for the record, i do not hold the stock, nor does my family. If any will benefit by my suggestion, it will be those shareholders who might want to exit.
The company has recently got orders after a lean period, so exit might not even be the wise thing to do. But this does not relieve the company of what i feel is it's DUTY to allow shareholders the same option to exit (if they wish) at Rs 70/-as RJ.

Mitranand Financial Services Pvt Ltd

4 years ago

We have to make certain facts clear in out mind before investing in stock market in India..that may help us to live in reality

So called big investors ... actually are insiders,price manipulators and cartel members..there is no WB in India

SEBI's main function is to help stock brokers and big corporates by passing consent orders.. for investors they are just working like post office ..sending their complaint to promoters and promoters' reply to investors

Bosco Menezes

4 years ago

The Buyback offer allows the company to buy back upto 18% of it's equity, i.e. 16 lakh shares upto a price of Rs 90/-. An earlier press release to the BSE on 20th May 2013 says they had bought 16,188 shares till then. Till date they would probably have bought around 9.5 lakh shares or may be less, including the 8.9 lakh shares bought on 10th June from Rakesh Jhunjhunwalla & fly. So they have 6.5 lakh ahares that they can still buy .
MY POINT IS ACTUALLY THIS - that the company should be in the market daily buying quantities on offer around Rs 70/- bucks. So shareholders will get a chance to exit at a similar rate. It is not fair that shareholders had to sell at Rs 58-59 yesterday & Rs 62 today (weighted avg).

REPLY

Amit Bagaria

In Reply to Bosco Menezes 4 years ago

This clearly shows that the buy back was only designed to give exit to Rakesh Jhunjhunwala. Otherwise, he would not have been to sell his position of 10% in the company. Its all a farce to give exit to big investors at the cost of company. Otherwise, what is the explanation of doing buy back at the first place !!!

Bosco Menezes

In Reply to Amit Bagaria 4 years ago

I too suspect the same, Amit (that the buyback might have been designed to enable RJ to exit).
Be that as it may, management of Zen Tech should have been extra vigilant in the next few days to make sure that follow-up selling from retailers was picked up at around the same level. This would have been the FAIR thing to do.
Unfortunately, they didn't do that & retail investors have sold at wtd avg prices of 66, 65, 59 & 62 respectively the next 4 days.

Credit Sudhaar asking Rs16,000 a year for restoring 'credit'?

Credit Sudhaar, a non-specified user entity is sending mails to people whose loans have been rejected. It not only claims to enhance and protect but also 'restore' credit of individuals for a yearly fee of Rs16,000. However, the firm has no answer about how it could do the job

Is Credit Sudhaar, a firm set up by former bankers Gaurav Wadhwani and Arun Ramamurthy,  again misleading people through tall claims in a mail campaign? (http://www.creditsudhaar.com/welcome_3.php ) Its inability to answer Moneylife’s queries about its claims would suggest it is the case. Earlier too the firm had claimed to have a tie up with Credit Information Bureau (India) or CIBIL and was offering credit advisory services at CIBIL Market Place. Till today, both Credit Sudhaar and CIBIL have kept mum about their ‘strange’ collaboration. But more about it later.

 

Meanwhile, at an open house with Dr KC Chakrabarty, deputy governor of the Reserve Bank of India (RBI) an inmate claimed that when CIBIL sends a defaulter report, that person also gets an SMS from Credit Sudhaar, suggesting a partnership. 

 

In the recent email campaign, Credit Sudhaar is asking people to become its members by paying an annual fee of Rs16,000 (earlier it used to ask Rs10,000 for the same job at CIBIL Market Place). It claims with this kind of membership fees, one can “restore, enhance and protect” one’s credit! Here is what Credit Sudhaar claims to provide in lieu of the Rs16,000...


When we asked Mr Wadhwani and Mr Ramamurthy to explain, how exactly this works, they avoided providing answers. Instead, Mr Ramamurthy, forwarded our mail to their PR agency, which, sought a week to reply. When we requested the agency for answers, T (Talari) Anand Mahesh, managing director of Mavcomm Consulting Pvt Ltd (the PR agency) cautioned us against publishing any content pertaining to Credit Sudhaar without receiving a suitable response by the authorised persons or directors.

 

“If you choose to go ahead, you and your company shall do so at your own peril and costs,” Mr Talari said.

 

Here are the questions we asked to Credit Sudhaar...

 

1.   As mentioned in our stories (Credit scores are a big zero and http://foundation.moneylife.in/?th_galleries=experian-credit-score-camp ), not all credit bureaus in India are providing detailed CIR or credit scores to individuals (due to lack of data). So how "Multibureau Analysis of CIBIL, EQUIFAX, EXPERIAN Credit Reports" works?

2.   As per our information and understanding, there is no training facility or institute for credit counsellors in India. How and from where your counsellors are trained and received certification?

3.   Is the National Association of Certified Credit Counsellors (NACCC) accreditation recognised or accepted in India? If yes, then can you please tell us names of the entities who recognise or accept this accreditation in India?

4.   Your mailer claims to provide "error tracking and reconciliation". Can you please explain what exactly does one (and how) reconcile a credit report?

 

Till writing the story, neither Mr Wadhwani and Mr Ramamurthy nor Mr Talari has provided any answers. We will incorporate their answers as and when we receive it.

 

Coming back to Credit Sudhaar's earlier tall claims, there is still no word from CIBIL on this strange partnership. Earlier, in an email, CIBIL had said, “It is important to note that to access CIBIL Market Place, consumers access their own credit report and score. The service is available to the consumer if he chooses to avail of it and not otherwise. This approach works well for consumers who have good credit health but is not effective for consumers who do not. Consumers who are in a debt trap and not financially literate are not able to identify assistance easily if they need it.”

 

Surprisingly, at that time Credit Sudhaar sent us a screen grab of the CIBIL Market Place . The images showed Credit Sudhaar as the only entity providing any service to customers at CIBIL Market Place.

 

Moneylife then pointed out to CIBIL that Credit Sudhaar was neither registered with the Reserve Bank of India (RBI) as a non-banking finance company (NBFC) nor it was a specified user entity of the credit bureau and was still accessing credit records of crores of individuals.

 

Credit Sudhaar is just a specific services provider. CIBIL was allowing credit institutions and others to sell their loan products or other services on its Market Place. Credit Sudhaar was only registered on Market Place to offer “credit advisory” service for which the charges were Rs10,000 (it was mentioned as processing fees).

 

In an email reply, the firm had said, “Credit Sudhaar is associated with both Safe Capital and Dipran. Both Safe Capital and Dipran are members of CIBIL”. This also means, Credit Sudhaar may be using either Safe Capital or Dipran’s login credentials to access the CIBIL database, especially the portfolio review, which gives complete details of an individual.

 

CIBIL replied, saying, "With specific reference to the suggested misuse of benefits by certain of our Members, we are investigating the same and will take appropriate action." There is still no word from CIBIL on the investigation.

User

COMMENTS

Shashi Mishra

2 months ago

Worst service. Don’t ever trust on them as they will give fake promises and later on turn out. Initially they will tell you that they will improve your cibil and get the black marked things out from your record, but once you will pay them huge amount their promises get vanished. Don’t trust them they are fraud.

Vinay Kadalagi

4 months ago

Credit sudhar is a purely a scam. Do not believe the credit scores they show on their website. My current score is 783 but on their website it is still 550. They mislead people to earn money. Better rectify your issues on your own, it will take time but not impossible.

Harjeet Matharu

5 months ago

Hi,

I might be the most disappointed customer of the Credit Sudhaar services and certainly would not recommend this to anybody. I had doubt about your company and its services even prior to the subscription per the reviews available on multiple webpages and blogs. I still took a leap of faith and went ahead with services but Credit Sudhaar proved me wrong. Every time I experienced disappointment from a new person at Credit Sudhaar.

Let me tell you my story of grievance now. On May 27th, 2016 Usha was the first lady to call and convinced me for the subscription. That was the day when I made a blunder of joining with Credit Sudhaar services.

As soon I paid for the services my case was assigned to Pooja Raut, unexpectedly she left the case only just after 3-4 days. Nobody followed up on the case up-to a week and when I called myself at the customer care and asked for her, I was surprised to know that she had left the organization. I was promised the case will be taken care of and a new counsellor will be assigned to my case soon.

Then waiting for about 3-4 days, I received a call from Veena on 5th June, 2016. I already had enough dissatisfying experience from Credit Sudhaar that I told her just to drop the case and requested for a full refund. She then assured me that it won’t happen again and urged to give a last chance to Credit Sudhaar to convert the bad experience to a good one. She had been good in following up on regular basis but the resolution outcome was least.

On Aug 5th, 2016 I received the last response from her and she also left the case in between.

Again, in shock I called the helpline and got to know that she has been moved to a different dept. and a new counsellor will be assigned to the case soon.

Now, at this point you can understand the level of frustration I had. Then after 44 days on Sep 19th, 2016 I received an email from Gilbert Benjamin, who introduced himself as a new counselor for my case. In deep pain, I told him my whole concern that how I have been struggling to find a solution for my problem and every month the case is passed on to a new person. I was assured by him that the case will now be taken care on a personal note and this will not be repeated. I know that man as the most dedicated and helpful to understand and empathize my concern. He put himself into my shoes and understood the pain. He genuinely followed up on the case. I received last response from him on Oct 12th, 2016 and then all of a sudden he disappeared. I wrote him a few emails to contact me but got no response. Waited for more than a month but nobody from Credit Sudhaar followed up.

Then once again a new email comes Credit Sudhaar on Nov 21st, 2016. Rahul Sharma expressed himself as a newly appointed person for my case and again the same reason was given to me that last person has been moved to a different dept. and no longer available to follow up on the case. I upfront refused him to follow up since I can’t bear this anymore. His manager Kaynat called me today and asked to write an email to withdraw the case and get the refund.

Currently, I am so pissed off with your services. I earn by doing hard work and paid Rs. 5724/- towards my CIBIL score improvement and not for this mental harassment. I have been experiencing nothing but disappointment from Credit Sudhaar and you have hardly contributed to improve my score. This is a setback for me and I feel like cheated by every person of yours. I don’t need any further support from Credit Sudhaar. Since it was promised to me by Veena if we fail to provide a solution you are worthy of a full refund. Now, because all of this pain I ask Credit Sudhaar to refund full amount paid towards the services back to my account ASAP.

Harjeet

REPLY

Sucheta Dalal

In Reply to Harjeet Matharu 5 months ago

We request you to check out the work at Moneylife Foundation, a not for profit organisation. http://foundation.moneylife.in At our Daily Clinics on Friday, between 5 pm and 7 pm we have a senior banker devoting time to help individuals like you sort our their problems. This guidance is provided FREE. There are no strings attached. Nor is there any attempt to sell you any product or service. We are surprised that more people do not take advantage of this instead of spending money on paid services.
You must however remember that our counsellors will offer advice, guidance and hand-holding. You will have to do the work yourself. But then, it is your life, your credit history and your financial life at stake. You must invest the time in sorting it out.
While you are on the website, do look under EVENTS and watch some videos on credit scores and credit related issues. Those are also FREE and will help you make your future financial life problem free.

R.Mekala

2 years ago

shall i get personal loan from
credit suddhar

REPLY

Ishika

In Reply to R.Mekala 1 year ago

Dear Sir/Madam,

Credit Sudhaar will first help you to check your credit score and if its healthy only then they will recommend you to go for a loan. If the score is low below the minimum required limit they will help you to increase it and make you eligible for a loan. I would advise you to go for a loan via credit sudhaar.

Ishika

In Reply to R.Mekala 1 year ago

Dear Sir/Madam,

Credit Sudhaar will first help you to check your credit score and if its healthy only then they will recommend you to go for a loan. If the score is low below the minimum required limit they will help you to increase it and make you eligible for a loan. I would advise you to go for a loan via credit sudhaar.

KKABIRR

2 years ago

hi all ,


i have got best service from credit sudhaar
My Cibil score has been rectified really appreciating and highly recommended

Anand Pagare

2 years ago

Yes, it seems all they are cheater they.. How can they ask for money payment to increase the credit- sudhar, this is not the correct way. There is something need to by New Government..

Where is Acche Din? for the peoples who are suffering due to low credit score?

This policy should be in Aam Adamin favor only.

Who can able to take responsibility?

Praveen

3 years ago

please don't go with credit Sudhar they are the cheaters

Praveen

3 years ago

Please do go with Credit Sudhaar they are the cheaters.every time they send email with no response

Sucheta Dalal

3 years ago

There are many comments here from those of you who need help with credit counselling and getting your credit scores corrected

Instead of paying more money, why dont you come to Moneylife Foundation, which is FREE and seek the help of an excellent counsellor who is a retired DGM of the RBI?

write to [email protected] or call 022-49205000 and say it is for Disha Financial Counselling.

If you really want to solve your issue rather than look for a quick-fix or short cut, this is where you must seek help.

While you are here, make the effort to read what we have written here on credit scores etc. It is important for your financial life!

Ajai Rana

3 years ago

Bull shit They will not do anything I paid the money but nobody turned up. I kept chasing the so called councilor but either his extension was busy or he is not in office the reception people take your messages and promise a call back from them but no body will call you.
They charge you upfront and once the money is paid no one is going to listen just don't believe these cheaters talk to bank people straight away and they will listen to you if not then send them an email they have to and they will respond.
If still you need any help just let me know I will help you with the emails of the banks.

Amit Sharma

3 years ago

They can't do anything to help in improving your credit scores. It's you who can improve your scores.

How?

1- Maintain and monitor your accounts monthly.
2- Pay your bills on time.
3- Use 35% of total credit limit of your cards.
4- Make payments in full every month.
5- Review your credit report before applying for a credit card or loans.
6- Do not apply for many credit cards or loans back to back.

I hope it may help.

Regards
Amit Sharma

REPLY

Pankaj Rawat

In Reply to Amit Sharma 2 years ago

Yes, 100% correct I agreed with Amit.

Ganesh

3 years ago

Credit Sudhar are the biggest cheats. Never get enrolled. They do nothing for what you pay. Pathetic service and their so called counsellors have no knowledge or will to help people.
I wasted my 12K and got no help from them and finally i was left to solve all my problems on my own.
Trust me, i was able to get all my problems on my own and i even got a home loan in 4th month. Now i am fighting with these guys to get my money back.
There are lot of financial advisors available in your neighbourhood. Show your cibil report and take their advice. Approach the Bank or RBI directly on your issues and it will get resolved.
Dont waste your time and money on such cheating companies.

REPLY

Ganesh

In Reply to Ganesh 3 years ago

I am a Credit Sudhaar member and my CSID (Credit Sudhaar id) is 14537.
They have rejected my request to refund my money and they are forcing me to continue their so called services for one year.
I would have been happy if they had at least done a penny worth of help in resolving my issues.
The most disgusting thing is, that they made me to pay for my Cibil report (which was supposed to be included in their 12K package) claiming that they will refund it later and this never happened.
I had a most useless person on earth called Mr. Jai as my counselor who didnt even had courtesy to answer calls or reply to emails.
My honest advise to everyone is not to fall in their trap. They cannot do anything other than sending some crap SMS. Instead google and read some good articles on improving your credit score. There are lot of them available on internet.

Please dont waste your money on such bogus companies and instead use the same money to pay your balances which will in turn help you to sort out most of your issues or in best case, donate it to some charity.

tushar

In Reply to Ganesh 3 years ago

I am also fighting to get my money back from credit sudhaar. i was stupid to not review it before enrolling.

Sucheta Dalal

In Reply to anshuman 3 years ago

Dear Ganesh,
Sorry to hear your case.
However, this exactly is the reason why we have started Moneylife Foundation.
Moneylife Foundation, ICICI Bank and DISHA Financial Counselling are here to guide you, FREE of cost!
Kindly check http://foundation.moneylife.in/?page_id=....
Hope this helps.
Thanks,
MDT

MDT

In Reply to Ganesh 3 years ago

Dear Ganesh,
Sorry to hear your case.
However, this exactly is the reason why we have started Moneylife Foundation.
Moneylife Foundation, ICICI Bank and DISHA Financial Counselling are here to guide you, FREE of cost!
Kindly check http://foundation.moneylife.in/?page_id=...
Hope this helps.
Thanks,
MDT

Priya

4 years ago

RBI should be regulating such business practices.

Instead of providing transparency and allowing for individual users to perform error tracking and resolution, they are allowing a private entity to profit at the expense of indigent customers.

Most of the folks who have debt problems are going to be fairly naive about these issues.

Vidyut

4 years ago

Cibil and Credit Sudhaar model reminds your of The Kid by Charlie Chaplin. The kid breaks the window and the father just happens to be there to fix it. Same thing here, much bigger in scope. Thugs

Ajay Jha

4 years ago

Not sure why the agency has been named. Seems like free publicity for them. It seems they were doing their duty well.

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