OUR EXPERIENCE WITH DELHI-BASED FIINOVATION (M/s Innovative Financial Advisors Pvt. Ltd.) — 8 YEARS, ZERO SERVICE, ZERO REFUND

PLEASE READ AND SHARE — TAGGING GOVERNMENT OF INDIA / MINISTRY OF CORPORATE AFFAIRS / CONSUMER AFFAIRS

I am Dr. Chitiz Kumar Shrivastava, President of Aspirant Education Sansthan, an NGO based in Ajmer, Rajasthan.

On 9th January 2017, Fiinovation (M/s Innovative Financial Advisors Pvt. Ltd., CIN: U*******DL2009PTC*******, GSTIN: 07AACCI0615E125, Okhla Industrial Estate Phase III, New Delhi) issued us Invoice No. IFA/I/17-18/6552 for "Project Designing & Fund Raising Services." We paid the full amount of Rs. 1, 65, 200/- (including GST) on 30th August 2017 via NEFT (UTR: ALLAH*******031, Allahabad Bank).

In over 8 years since that payment, we received NIL service — no project report, no fundraising support, nothing. What we did receive, over and over, was a paper trail of written promises and missed deadlines — which we have carefully preserved.

WRITTEN ADMISSIONS AND BROKEN PROMISES — A TIMELINE

Fiinovation's own emails, on their own letterhead, tell the story:

22 Jan 2021 — First written admission that a refund was owed, citing "financial constraints."
04 Sep 2023 — Asked for time till December 2023. Missed.
18 Dec 2023 — Admitted in writing that "your project has not started as yet." Asked for time till March 2024.
05 Jun 2024 — Same admission repeated. New deadline: September 2024. Missed.
22 Oct 2024 — Written commitment: project would materialize by March 2025, "else" a refund would follow "as per the standard warranty clause." Neither happened.
27 Mar 2025 — Asked for more time, till "mid of next month."
17 Apr 2025 — Asked for time "within this month." Missed again.
25 Apr 2025 — Two separate formal written acknowledgements of the refund request — one from their team, one from a dedicated "refund.process" email ID.

THEN CAME THE CHEQUE GAMES

17–18 Jun 2025 — Fiinovation claimed a refund cheque had been dispatched via DTDC courier, and even provided a tracking number (Z*******). It never arrived. We confirmed non-receipt in writing on 19 June 2025.
29 Aug 2025 — Cheque No. ******* was issued — and in the same breath, we were asked to "hold onto" it for a couple of weeks pending "approval."
29 Sep 2025 — A second cheque, No. *******, was issued — and again, we were asked to hold it.

This is the same pattern several other NGOs have reported publicly: issue a cheque to show "compliance," then ask the recipient to sit on it indefinitely.

MORE DELAYS INTO 2026

11–14 Nov 2025 — We escalated directly to Fiinovation's Debopam Mukherjee, who confirmed the matter was escalated internally. We gave a final deadline of 17 November 2025. Missed.
02 Feb 2026 — New excuse: "unforeseen issues with our bank's systems."
24 Mar 2026 — New excuse: "financial year end closing activities." Eight years of excuses, in writing.

LEGAL NOTICE SENT — 15 APRIL 2026

We sent a formal legal notice (via email and Speed Post AD) demanding Rs. 4, 20, 330/- (principal + 18% interest for 8.58 years) within 7 days, citing deficiency in service under the Consumer Protection Act 2019, and cheating/criminal breach of trust under Sections 318 and 316 of the Bharatiya Nyaya Sanhita, 2023. Copies were marked to CGST, SEBI SCORES, and the Registrar of Companies, Delhi.

As of this writing, there has been NO response. Notably, some Fiinovation email addresses used in earlier correspondence (*******@fiinovation.co.in, *******@fiinovation.co.in) now bounce as non-existent, and the domain finnovation.com does not resolve at all.

WHAT WE ARE DOING NOW

We are pursuing:

A Consumer Complaint before the NCDRC/State Commission
An FIR under Sections 318 and 316 BNS at PS Ajmer
A complaint before the GST Department for input of services never rendered
A SEBI SCORES / MCA-ROC complaint

We are sharing this account, backed entirely by our own email records (30+ key emails, 119+ total exchanged, all timestamped and preserved), so that other NGOs and nonprofits considering CSR-fundraising or project-designing services from this firm can make an informed decision before paying any advance.

If your organisation has had a similar experience with Fiinovation / IPMS / Innovative Financial Advisors Pvt. Ltd., please comment or reach out — a documented pattern helps everyone's case, and helps regulators see the scale of the issue.

Dr. Chitiz Kumar Shrivastava President, Aspirant Education Sansthan, Ajmer, Rajasthan Email: *******@aspiranteducation.org

#Fiinovation #IPMS #NGOIndia #NGO #ConsumerProtection #CSR #MCA #GST #ChequeBounce #NonProfitTransparency

We at Kasturba Mahila Pratishthan (NGO) feel compelled to inform our network about a deeply distressing experience with a company called Fiinovation (Innovative Financial Advisors Pvt. Ltd.). Over four years, Fiinovation misled our organization under the pretense of CSR project facilitation and funding. Despite repeated follow-ups, they failed to deliver on any commitments, and we were ultimately defrauded of ₹1, 88, 800 — funds meant for the welfare of women and children. Their team, led by Mr. Gourav Samson, promised project rollbacks and refunds that never materialized. Our trust was broken, and all attempts at resolution were ignored. We have now initiated formal legal action and are sharing this message to prevent others from falling into similar traps. If you are an NGO, donor, or CSR partner—please be cautious when engaging with Fiinovation.
Let's hold such unethical organizations accountable. 📩 If you've had a similar experience, please feel free to connect. Together, we must protect the integrity of the social sector.
Contact me - *******396 #FiinovationFraud #CSRScam #NGOAlert #FraudAwareness #KasturbaMahilaPratishthan #AccountabilityMatters #SocialImpac