Value world travel gone into liquidation, Thousands lost hard earned money
Indian Owned travel agency in Sydney, ‘Value World Travel’ has gone into liquidation and is deregistered by ASIC. The Parramatta based, ‘Value World Travel’ had been popular among the Indian community in Sydney as they used to advertise widely at Indian festivals in NSW. Their marketing strategy was mostly focused on the Indian Sub-Continent travel market
Value World Travel’s Charles St Office has been locked and signs and posters taken down. The Company website is also offline. An estimated 2500 customers lost their money totalling around $2.8 Million.
Two of Value World Travel’s former directors, Neni Vijayant Tiwary, 42, and Gargi Tripathi, 40, were banned from managing companies by the corporate regulator in January this year over the collapse of two green slip insurance businesses, Greenslips Pty Ltd and ICRA Pty Ltd, both of which went into administration in 2012. The ticket wholesaler, CVFR Travel Group, maintains it purchased the tickets from the airlines on behalf of Value World Travel as it is required to when arranging flights, but never received payment. Customers were told the tickets, the majority booked with Malaysia Airlines, had been cancelled by the CVFR in an attempt to recoup money the wholesaler did not receive, leaving them thousands of dollars out of pocket.
( Former Directors Husband and Wife Team, Neni Vijayant Tiwary, and Gargi Tripathi)
Hundreds of people who booked their tickets (Mostly from the Indian Community) through the Agency for the coming Christmas holiday period; have been left out-of-pocket, as the agency did not send their payment to the Ticket wholesaler. Some of the customers, who bought air tickets at Value World Travel, were unfortunate enough to discover at the airport on their date of travel that their tickets had been cancelled without any notification.
It is in the best interests of the consumers to immediately contact airlines and hotels directly to confirm their bookings. If the bookings are in order, there is nothing to worry. For those who have paid the money and haven’t received any confirmation from the Airlines are left with limited legal options to recoup the money.
Consumers, who had paid by credit card, could avail the Charge back option. A ‘chargeback’ is where a customer’s bank reverses all, or part, of the amount of the disputed transaction back to a merchant’s bank by the applicable card scheme rules set by Visa, MasterCard or American Express. Contact your credit card provider to discuss the options.
Since the Travel agency is in liquidation, approaching the Fair Trading is no longer an option. Consumers are advised to contact the liquidator to register as an unsecured creditor. An unsecured creditor is a creditor who does not have a charge over the company’s assets. As a matter of fact, In this case, unsecured creditors are much less likely to recoup their money.
To register complaint, contact the liquidator. If you don’t get favourable outcome from the liquidator, Contact NSW Fair Trading.
The contact details of the liquidator is below
Daniel Cibil – Ph (02)9236 8333.
If you are in doubt, on how to proceed please contact NSW Fair Trading
NSW Fair Trading – Call 13 32 20 (8.30am to 5pm, Mon – Fri)
From overseas, call +61 2 9895 0111 during the office hours above (GMT + 10 hours).
Channel 7 News on the Glamorous life of Neni and Gargi