A group of 20 people on Monday filed an application with the police, alleging that Vastrapur a financial advisory firm by Rs5.25 lakh had been deceived by false promises of loans under a system of government.

Vastrapur police said that Ganesha Associates, a company that claims to offer financial advice, promised that applicants to obtain loans under the Prime Minister’s Employment Generation Programme (PMEGP) sanctioned from banks.

However, none of the candidates have received all amounts of the loans on May 1 and 2, the date proposed by the company, and lost the money he paid to the company as collateral for loans.

The application indicated that Vikram Singhal, Sushil Upadhyay, Nitin Gupta and Singh Ganesh Associates had put an advertisement in the newspapers of language on the system and services.

Four candidates ensured that it would help them obtain loans from RS1 RS25 lakh lakh and below PMEGP.

They wished them RS2, 500 each as a tax file manipulation. In the case of a loan application was rejected, they promised to repay RS2 000 of this amount.

The applicants argued that they would help them get more of their loans converted into grants if they are deposited in the amount of the loan guarantee has been accused of.

Thus, victims of Rs5.25 lakh deposited by four. But no candidate has received a couple of days to review the loan from the company.

Subsequently, the applicants have submitted a request to Vastrapur police station.