Victims in Coimbatore allege financial fraud by an organization claiming to provide interest-free loans with subsidies in the name of A.P.J Abdul Kalam Foundation. Complaints filed with District Collector.
Coimbatore: Victims of an alleged financial fraud have filed a complaint with the Coimbatore District Collector against an organization operating under the name of Dr. A.P.J Abdul Kalam Foundation. The organization, located at Sri Lakshmi Garden, Keeranatham Post, Kondayampalayam Road, Coimbatore, is accused of deceiving people by promising interest-free loans with subsidies.
According to the complaint, the organization claimed to have been established for the economically disadvantaged and offered interest-free loans with subsidies. The victims allege that the foundation collected advance payments but issued donation receipts instead of payment receipts. When questioned, the organization reportedly stated that issuing donation receipts would help them avoid income tax issues.
The complainants further stated that representatives from the organization visited their homes for inspection within a month, as promised. However, even after a considerable time, no loans were sanctioned. When the victims demanded a refund of their advance payments, the organization allegedly refused and threatened them when they mentioned filing a complaint.
The affected individuals have urged the District Collector to ban the organization completely and help recover their money. The case highlights the need for vigilance against fraudulent schemes operating under the guise of reputable names and charitable causes.
According to the complaint, the organization claimed to have been established for the economically disadvantaged and offered interest-free loans with subsidies. The victims allege that the foundation collected advance payments but issued donation receipts instead of payment receipts. When questioned, the organization reportedly stated that issuing donation receipts would help them avoid income tax issues.
The complainants further stated that representatives from the organization visited their homes for inspection within a month, as promised. However, even after a considerable time, no loans were sanctioned. When the victims demanded a refund of their advance payments, the organization allegedly refused and threatened them when they mentioned filing a complaint.
The affected individuals have urged the District Collector to ban the organization completely and help recover their money. The case highlights the need for vigilance against fraudulent schemes operating under the guise of reputable names and charitable causes.