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ICFAI / Fraud and cheating!

1 India Review updated:

This is to bring your notice to ICFAI University‘s fraud. I am a student of ICFAI university distance learning program for MBA. ICFAI University have branch office (sales office) in many city, Main purpose of ICFAI is to take as much money from student as possible. They charge for everything.

In this race for money, one new formula that ICFAI university have derived is, they pursue students for various ways to pay money to University like “join study group”, sell of past question papers , answers (some centers in Pune also sell future question papers).

And then all the poor student who do not have money to keep paying for these increased demands of ICFAI university, only there mark sheet go through negative marking. ICFAI University have a line printed on every Question paper, where it says “There May be Negative marking“.

And this May will be decided my “Examination Committee” depending on total inflow of money from particular student. My Question is, is it legal for any University to print such line “there May be negative marking” on any Question paper.

After many Emails and telephone to ICFAI SSD department I am not able to get this answer. Email


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  • Di
      5th of Oct, 2007
    +2 Votes

    i`m doing mba from icfai and i`m completely disagree with this view point as the icfai has a standard and now days competing with the best institutes to provide that quality education it has to maitain its services which cost much higher than a student beers it. The all charges are optional to you you may pay and get those quality services which are never served by anyother distance learning mode. The negative marking is to bring accuracy in ur managerial decesions if it doesnt to plce then taking admission to the MBA will lead to a MBA degree without filetering the quality students. Next branch offices are to serve as service centers to those students who are serious to their studies and really need class support & other services at their nearer place. At last this quality education is for those who may avail it not for the students who fail to qualify in standards. only this qualty system may lead to good placement else you may gain an mba degree from anywhere without being a real business administrator and become a MBA guy just selling socks & tools on streets.

  • Di
      8th of Oct, 2007
    +1 Votes

    I completely agree that quality of ICFAI university is far better than many universities in India. However, I do not receive magazines in time and recently got a reply to check at my end. This is absurd!

  • Te
      29th of Oct, 2007
    +2 Votes

    Hi I agree with Dhananjay. Students are doing their part time since they cannot afford to spend a lot of time for their education. Any part time course should be helpful enough for them to clear the exams. They are unnecessarily complicating the system. It should either have a statement that it has negative marking or it should never have one. What is the reason behind to say it might have negative marking. There is no such a system in any other universities.

  • De
      19th of Dec, 2007
    0 Votes

    Hello friends, i totaly disagree with your points ICFAI is the best university i ever had an education qualifications. The matter is that no body of us has gutts to passed from the examinations of the icfai. They use the method of line to line setting papaer tecniques, which becomes to tough for the students to learn, in ending i want to say that surviour for the fittest challeng is arrived & we have to prove the worth. I am a student of ICFAI flexible learning program for M.B.A from gujrat.

  • Ra
      30th of Dec, 2007
    +2 Votes

    Hi Deni,

    I certainly appreiciate your loyalty to your institution

    However I have 2 questions to you,

    1. Why the so called world class MBA institute ICFAI, did not have AICTE approval? Are you aware that AICTE approval is mandatory for all Engineering, Technical and Management education institues, for more information check AICTE Act, 1987 of Govt of India.

    2. To offer any distance education in India, the institute must possess an approval from Distance Edcuation Council (DEC), the brilliant ICFAI, named its distance education program as Flexible Learning program and offers distance education. For more information on this pls check "Vide Clause 16 of IGNOU’s Act approved by the Parliament and Statute 28".

    Please make a note that if tomorrow AICTE or DEC cancels the degree offered by ICFAI, your MBA will have no value. Please ask ICFAI about it, they will not have any answer.


  • Nr
      18th of Apr, 2017
    +1 Votes

    @Rajkumar P Hi Raj,

    Your First Answer go through the Link.

    ICFAI University is Equally Recognised by UGC and DEB .

    Contact me to see the further approvals.

    Neeraj Tiwari

  • Sr
      25th of May, 2017
    +1 Votes

    @Rajkumar P Hi There,
    I am planning to do MBA in ICFAI. I found some thing like this in google:

    As The ICFAI University Tripura is a Bonafide University established by a State Act, it does not require AICTE approval. This standing of law is notified by the Supreme Court of India in the case of Bharathidasan University Vs AICTE. UGC vide letter No.

    is this some thing valid?

  • Sa
      15th of Jun, 2017
    0 Votes

    @Rajkumar P Hi Dear,
    1. You are raising the point that ICFAI University is not Approved by AICTE, For Your kind information AICTE can not approve any university. One more thing AICTE does not have the power to approve any university.
    A university only required approval from UGC.

    2. Mr. Raj please correct your database because Its DEB not DEC.
    And ICFAI university has the approval of DEB.
    I am sharing the link please check:-


  • De
      23rd of Feb, 2008
    +1 Votes


    ICFAI university offlate has started cheating the students by extracting money in crude way. While taking admission if u pay full amount then u r finished. Every year they will ask so many thing for u to pay fee..renewal fee....late fee ...
    There is bunch of monkeys sitting as SSD & reply ur mail in the most negative way & completely irrelevant to ur questing. Has anybody got the management address... or raised those issues affecting to all mba student on flexible learning.Pl share...

  • Ma
      16th of Mar, 2008
    0 Votes

    Dear friends

    I want to differ from your point that "ICFAI is cheating on students".

    Let me introduce myself first. I have myself done MBA in regular mode from ICFAI Bangalore and I am Gold Medalist for being topper of my MBA batch ( ). I have worked as software developer and project manager in IT industry before joining the MBA.

    Regarding AICTE and DEC approvals, AICTE and DEC themself were never trustworthy regulatory bodies and have been in news for all the wrong reasons. AICTE and DEC banned even CFA (USA) from operating in India. This is the same CFA (USA) whose degree is valued by even major financial Institutes all over the world. ICFAI (and so IIMs and IITs) has not gone for AICTE and DEC approvals as institutes have to take time taking approvals to change their syllabus.

    I have never understood one thing, Is it better to take approvals from AICTE and DEC and then wait for 5 years in HRD ministry to get necessary approvals to change curriculam or syllabus or , not to take any approvals and provide world class education to students?

    I am open for any feedback. you can reach me at..

    Manoj Banshilal Pachouri
    Bangalore, India
    +91 98862 88806

  • Ch
      23rd of Feb, 2017
    0 Votes

    @Manoj Pachouri Then how about BGV in IT industry, if any HR rusticate me saying there is no AICTE/UGC approvals after pursuing MBA in ICFAI.

  • Pr
      22nd of Apr, 2008
    +1 Votes

    ICFAI is just a money making institute, it does not have any kind of Reconginization any where in the world. Do not get fooled by marketing people and its advertisement.

    Soon there will be a lock out of ICFAI and they will face people warth all over india. Many complaints have gone to all Education boards and I am sure there will some serious action.

    At this point of time, I suggest all students to stop paying the money. Do not waste your time and money.

  • Bh
      12th of Apr, 2017
    0 Votes

    @Prasanna yes you are right icfai is money making university. its a fraud, worst university.

  • Ab
      27th of Apr, 2008
    0 Votes

    I agree, ICFAI is a big time cheater and money swapper. It does not reply to your queries on time. Even after extracting so much money from both Regular and Distance students they communicate with you via eMails and send renewal and fee payment requests via email. When they are so hitech, why does there online payment process portal sucks. The study material, the huge one. The one people say is high standard, high quality is just a rip off from several management books, why do they have such a complicated system for distance education. The reason is that they dont want students to clear the exams and move on. They just want to trap you in this web forever and keep asking you money for Exams and yearly Renewals.

    ICFAI is a big time looser. The so called hype and standard dialogues are only to fool people. I have been a student of ICFAI Distance Education for three years. They suck...

  • Ar
      27th of Apr, 2008
    0 Votes

    Dear All,

    I sincerely request not to care for people who are pro to ICFAI. They are the people who are paid do this or they’re the same people who are involved in marketing for ICFAI.

    ICFAI is spending lot of money in finding out loop holes in law and enforcing the best model to suck money from people. They’re paying lawyer for each case to handle and it is known to all in the industry.

    Best way to deal is get in touch with community people and arrange for mass protest to chase them out from the community. Lodge police complaint in group by taking help of social organization, chase them out from your area. This works and also you will do social work by saving another person getting cheated.

    Also recently there was a add saying affiliated to UGC, it means that salary standard to staff is according to UGC. Do not get impressed with word UGC.

  • Ha
      30th of Jun, 2008
    -1 Votes

    Dear All,

    This is Harish R. ICFAI has a Referral scheme to attract students. I had reffered one of my friend, for which I was suppose to get some incentives in 3 months time. It is now good one and half year still i'm waiting for the same. When I wrote a mail to they asked me to check with The mails to the id are bouncing back and when I wrote a mail to informing the same, there is no reply at all.

    These things convery only one thing. These are only marketing techniques and does not exist in practical. Beware of such fraudsters.

  • Pa
      23rd of Mar, 2017
    0 Votes

    @Harish R Dear right email id is
    Not a

  • Ra
      11th of Jul, 2008
    -1 Votes

    Anyone, please advise me how authentic is Cfa(India).

    Some say it is not recognized or approved here in India.
    Some even say there is no use in taking this course.
    It does not create you any jobs,

    Is it true?

  • Je
      7th of Aug, 2008
    0 Votes

    I Completely Agree. My one & only questions is about this statement in questions paper.""" There May be Negative marking """. What is the meaning or motive behind this????????????

    One thing is very clear that, if you pay & attended there teaching class. U'll pass otherwise no. If you've time & money U'll pass. This is not for poor & working class ppl.

  • Ra
      9th of Aug, 2008
    0 Votes

    Hi Guys,

    Fortunately or unfortunately, I come across this web page. I was about to join MBA distance program in ICFAI. Now, I am not sure, I am little confused. I inquired about other universities like Symbiosis which gives only PGDBA not MBA and IGNOU MBA of 3 years, Sikkim Manipal University which has less specialization. Does the MBA from ICFAI has market value or is it worth going for it after going through so many complaints on it. I am working in a software firm, so I can't do regular stuff. Please kindly guide me ASAP.

    Thanks in advance

  • Ra
      11th of Aug, 2008
    0 Votes

    AICTE is not the ombudsman for ALL higher education in India. As far as MBA is concerned when it is taught in a technical institution AICTE approval is needed as technical institutions are governed by AICTE mandate. If MBA is taught in a arts and science college under affiliation to an UGC recognised University UGC approval is enough. AICTE is misleading public as though it is the only authority to approve MBA courses. ICFAI University, Tripura is listed under UGC's recognised Universities. As per market value of MBA and placement study only at IIMs, XLRI, SPJain, Narsimonji only. I am MBA (IGNOU) - 1998 batch. Whatever be the Distance education MBA, it will have VALUE ONLY IF U HAVE COMMENDABLE WORK EXPERIENCE.

  • Ra
      12th of Aug, 2008
    0 Votes

    My above post about was not about patronising ICFAI. The idea is about AICTE vs UGC and recognition of MBA courses. Min. of HRD has constituted a committee to go in the working of AICTE and UGC, link below

  • Av
      20th of Aug, 2008
    +1 Votes

    AICTE approval is needed for institutes which are autonomous and are offering PGDBM courses ( for e.g. SIBM). An MBA degree can only be issued by a university (for e.g. PUMBA from Pune University or Sydenham from Bombay University).

    Univerisities are approved by the UGC; and so become universities and DO NOT need a AICTE approval for any of its courses.

    Only private autonomous institutes, who want to offer 'technical' courses like MBA need to take this approval on the basis of syllabus, fees, facilities, faculty etc. which add value to the course.

    My mother is on the UGC board... so I hope this clears all doubts regarding approvals.

  • Sh
      30th of Aug, 2008
    -1 Votes

    I am student of ICFAI B-TECH IN HYDRABAD .i dont know whether this information is about the icfai bschools and mca corses.i am 2008 batch student .will the AICTU permits approval for the B-TECH colleges?i would like to know abiut this matter

  • Vi
      6th of Sep, 2008
    0 Votes

    join anti ICFAI forum

    vikrant dogra

  • Ve
      12th of Sep, 2008
    0 Votes

    I definitely agree that ICFAI is making money out of everything... None of the other institutes charge such huge money even for previous yr Q-papers/answers.
    One thing I would like to know is "is it true that you can pay some money & get your degree certificate?". If yes, then please let me know whom to contact. Anywyas, I have paid so much, I don't mind shelling out more Rs. 5-10K if I get the certificate. ;) :P
    BiG-time cheats.
    I enjoy being a part of the great ICFAI (pun intended).

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