Exhilway Asia Ventures review: Cheating money and Killing Business 60

Mavericj this is quite obvious that he was rejected by the counsel thats the reason he is not happy or possibly the people who wrote his documentation charged him higher. Logically the funds do not take any fee, this is applicable to the PE funds.

If you plan a IPO it fails, then the cost taken by merchant bankers to write papers is also non refundable. Also he must be aware of the service fee before he signed on the dotted line. The fund if it is delayed will make some arrangements...posting complaints will not get funded.

The fund is long delayed as per my research and they have not enrolled any company in the fund after 2014. The financial industry does not work on guarantees of funding. As rightly said above, even underwriters to IPO or banks after you submit plans and projections does not guarantee funding.

Even Mavericj is from the same IP. The complaint and the replies are possibly from same system.

What I can make out and say is that every PE fund has a cost of service which is non refundable in nature. What happens is that a client approaches a fund for money and as per formality the plans and projections are submitted. In case of US, the cost is $200000 or 1.2 crore as per Indian standards. If a client already has documents then it is not required to be made again and with a same papers he can approach several PE. The problem here is that the client or some fake company is not happy on being not funded or possibly rejected.

By the we must ask the author of this complaint that why he is waiting for years. Rejection by counsel of a fund is irrevocable.

One thing i am confused... The author didnt say whether he got funded or not... then why is that every one is asking about he being rejected/not getting fund/waiting for long time for the Miracle fund to happen? ANy guessess?

Seems like both of these parties are playing games. The party who is complaining seems to be invisible character and they are fighting on a subject which is not even understandable. Somebody paid a fee to somebody and somebody is saying he is not happy.

Wow... So many posts from the same IP? How is this possible.? Anyway who is this who complained?

If you have paid you must have paid against a service and you must have been received some service. Why will you pay? What are the services you received. As requested by others you must post invoice copy and let's see if you are overcharged. In most of the cases no fund over charges as it is per the standard.

There is nothing unusual. Due diligence fee is paid by the client only. With reference to post of other members I must ask that why are you not funded by anyone? All documents you made or paid for must have been valid with all companies and banks. I paid Accel Partners 15, 00, 000 and was rejected but I use same documentation for a unsecured loan. If you are complaining for fee; you must be complianing to God too that he gave you birth but you have to pay for your car petrol and for food.

This looks some stupid complaint. No bank or fund invest with you but each one of them goes through process. Talk to fund if you are cheated. Possibly you have paid to some CA and even if it is fund no body takes liability for papers.

Buddy for example if you wish to go US and you pay for getting passport and if your trip is cancelled, you will not go to Passport office and shout at them. All papers are reusable; the surprise is you are endlessly waiting for some unkown business to become a billion dollar company. Buddy not everybody is funded by PE; even banks kicks people out.

Bhai logon ka IPO fail ho jaata hai crore rupee lagakar. duniya mein ek hee fund hai kya? Yeh fund delayed hai par tumhara paisa lekar thodi bhaag jayga. Yaar isse moti to inke fund manager ki salry hoti hai.

they work with Chartered Accountants callled panel CA's there greed is huge. Fund never aksed money or fee. Catch hold of these Chartered Accountants.

My company Decor Hut, Surat was rejected 7 times buy the fund. No money was paid by me. Sir possibly you are cheated by Chartered Accountants who take charge. If you will use Price Water House you will pay 50 lacs...if you use some local CA you will stay pay 10-20 lacs...

the fund is always represented by counsels which no body make public? When you go to a bank do you call their promoters or made aware of their management? The point is has somebody cheated you in fund name. Technically a fund can take only due diligence fee...that's all which may formed a part of rating or valuing the company. No fund sits with a cheque book in hand...your case is simple you paid for some legal fee possibly to some external parties which a fund may have referred to...be specific with your details when you write...pointing fingers does not solve issues...you want other people to come forward but who are you? You must have taken some money from some PE fund to write all this...

No fund will run with few thousands and no fund will register with government authorities and do fraud with people...talk to fund authorities...a fund will not react on some strangers with absurd usernames writing fraudlent things...

The surprising thing which I cannot understand is that you when you are seeking money how come you paid 30 lakhs and to whom? Post the receipt of 30 lakhs here and let me see what can I do for you. You yourself seems to be a fraud upfront...who are you? which company of yours intercated with fund.

When you apply for project loans with the banks you still make papers...it depends on what kind of CA do you use...if you use any big firm you will end up paying big sum...brother if you need money you need projects to be written and your documentation is applicable to every PE fund...may be you have not applied with other PE and the big question you relied only on one fund? You could have applied to various funds or banks...are you desperately waiting to get funded and you are using threat tools?

there used to be a Hyderabad based CA called Lalith Prasad and Bangalore based CA Ashok Ostwal who used to ask for huge fee for writing plans and was fired. these CA's ask for their fee. the fund needs your plans now if you pay somebody lakhs and crores. the people on this board are asking for invoice you post that here and tell your company name. possibly you haven't talked to fund guys before you wrote this.

never heard any wrong doing about this fund. I remebr that I was only asked to send papers and not some crores. possibly a mistake or somebody else cheated them in fund name. why not talk to fund people directly?

Was this the fund who took money or you paid to some company who make business plans, financials etc. Legally fund cannot take money. When I applied for the fund in December 2014 some Lalith Prasad and his associate Ashok Ostwal based out of Hyderabad and Bangalore asked for some Rs 7 lakhs fee. The fund never forced me to use their service unlike other PE funds who have their own set of people who do the work. Talk about KKR, TPG all of them impose documentation cost on the client and they never give any term sheet unless they are satisfied.

What rubbish are you writing? When you are not funded by anybody you took this route to write wrong about the company.

First you prove your own identity "madmexs". If you go to a bank, pay CA to write your documentation, do your due diligence, do you sue bank? If they reject you there is no way out. Okay let's go with your point, you paid some fee but to whom? Which invoice do you have?verma_asish also want you to post invoice.

It seems you yourself are running some bogus company which was never funded and now to make quick bucks from the company you are doing this.

I too disagree with the author. There is no complaint about the fund other than this who is written by some Mr. X. I think somebody is really pissed off when he was rejected by the fund. Why no bank funded you? How much money do you invested in your company? Why dont you make your company name public and show your financials? What unique idea you had? State atleast 3 reasons that why you should be funded? Have anyother PE fund funded you? Why you waited for a single PE fund in anticipation that you will be funded.

Funding is not buying ice cream it has to be validated. Thousands of people send enquires to the funds and sometimes they do pay lakhs for due diligence to big companies. There is nothing that you should be frustrated about. The documentation of each fund is valid for other. Possibly you never tried talking to any PE fund or you are too scared to make the name of your company public. The funding happens on the basis of merit and not on the basis of complaints.

I never paid any amount to this PE fund and they never asked for any. We was made aware that the fund was delayed and we raised bank loan against immovable assets.

Dude! IThe name of company is Set Imports India operational out of Ahemdabad. I too submitted my application when the fund was kept open...they never asked for any fee...The private equity fund was delayed

Also, the identity of the author is missing. What is the name of his company? Who does he represent? You must tell your own name before you point fingers on others.

I strongly disagree with this view point. The fund is genuine and is operational since 2001. This comment seems to be coming from a author whose company is possibly rejected in the funding process. Dear author you have to understand that not every company is selected and funded, some go through rejections due to several reasons.

Being registered with SEC and other authorities in itself makes a valid statement that the fund is geuine. How come anyone receive license if there are no shareholders? The company is active in several real estate funding and has funded over Rs 100 crore since then. I own a real estate company and I was funded Rs 2 crore in 2003 at a interest rate of 9% per annum. PE business suffered as it was serving startups. I was the one who applied but they never asked for any fee, I got rated and valued too but I paid Rs 18, 000 which is meagre. If you have evidence to this fact that they collected crores then you must post the valid invoices along with the same. To my knowledge I never paid any fee in crores.

You have to understand that no PE fund provides funding from their own pocket rather they raise and deploy funds. They only worked on one fund which was Global Opportunities Fund which faced several challenges as majority of the companies never had any valid documentation. Each fund surveys thousands of companies, no fund will pay for every client. The client bears the cost of due diligence and other stuff. This is a misleading statement that somebody paid crores. No body will pay fund Rs 30-50 lakhs for PE funding.