Hundreds of students of the ‘Indian School of Business’ (ISB) subsidiary INSOFE (International School of Engineering) are angry after the sudden closure of upGrad’s INSOFE’s AI and ML course. The sudden closure has left students worried while they were in the middle of their courses.
Dr Dakshinamurthy Kolluru, co-founder and CEO, INSOFE and Sridhar Pappu, President of UGDX refused all the allegations and said “The trainees had either self-funded or received loans from the platform’s NBFC partners”.
Both Dr Dakshinamurthy Kolluru and Sridhar Pappu said, “We have established dedicated Zoom links, phone numbers, and email addresses to address the concerns of the affected individuals and offer them the necessary support. They emphasized the company’s commitment to continuing its operations in Hyderabad and its dedication to its learners, employees, and community.”
They further added, “INSOFE is striving to provide support during these challenging times. Interestingly, none of the protestors chose to file a lawsuit against the company. A police officer at the scene informed the media that the protestors were seeking a settlement with INSOFE to compensate for their losses.”
According to local authorities, the company took out loans under the name of their staff. The company withdrew a loan of Rs 4 Lakh by stating that it was needed for the newly inducted 650 trainees for the PG diploma course in data sciences. Rs 10 Lakh was taken out in the name of 50 trainees who went for the master’s degree.
Certain reports suggest that the course was shut down abruptly happened due to financial issues that upGrad’s INSOFE is facing. Currently, the students do not have answers for the closure yet. Students have gotten vocal about the same as they put in a lot of time, effort, and money on the same. According to reports, about 700 students who were enrolled in the AI and ML courses have been affected by this abrupt closure of the program. Several students were lured and promised job placements after the completion of the course.
Furthermore, students are also demanding a full refund and the certification promised by upGrad’s INSOFE. This has raised questions and credibility about the accountability of educational institutions.
