According to sources, MRPTC has asked its investigative arm DGIR to look into GE Money's personal loan scheme `Loan lo vapas mat karo' scheme based on complaints of unfair trade practice. DGIR is trying to find out if GE Money allured customers through ads but did not fulfil its promise. It is also enquiring if the firm that "offered" full-loan waiver to a select few, among other possible attractions, has fulfiled its promise.

Officials alleged, the company was not fully cooperating with the probe and had questioned DGIR's authority before MRTPC after the agency sought details. An official alleged that details of interest rate charged before the offer period and after it were not disclosed and only a range of 18% to 32% was given.

In response to a questionnaire, GE Money said: "Since the matter is sub-judice we are unable to respond to your queries specifically. It is, however, stated that in its usual course of business and to provide its customers with more options, GE Money often comes out with various kinds of schemes. The loan scheme introduced last year between March-May 2006 did not overcharge our customers and did not work to the prejudice of any of our loan customers. GE Money product offers have always been competitive in the market and will continue to be so. In the instant case, GE Money is co-operating with DGIR by providing all relevant information as per the scope of the investigation provided under law."

Through the scheme GE Money disbursed Rs 287 crore.