Incidents of partners taking money on credit and then absconding seems to
have become the order of the day. The latest victim is Konarka Computers, an
Allahabad-based company. Siddharth Sharma, Proprietor, Konarka Computers and
ex-President of Allahabad Computer Dealers Welfare Association (ACDWA) informed
The DQ Week that Rs 57 lakh of his was stuck in the market.
“It has never happened earlier that the money I gave on credit was not
returned. At times it took a while but sooner or later I was always able to
recover it. But about nine months back, I had to shut down my business, because
I did not apply the credit control practice. I gave money on credit to people in
the market without asking for any security or taking any safety measures,”
Sharma shared. He also did not sound very hopeful of recovering his money from
the market, but shared that he would be back in business as and when the
Sharma informed that due to problems on the personal and professional side he
could not give time to the association activities. He has now got into sand and
Another major partner from Allahabad, on condition of anonymity, shared the
names of two other dealers, who according to his estimates, owe Rs 18 lakh to
dealers in the region. The companies are Swetech Enterprises and City Compaq
Systems. He alleged that these two companies were not doing well, and the owners
had taken money from dealers in Allahabad and nearby regions like Noida,
Varanasi and Lucknow, and were now nowhere to be found.
association elects new team
|DR Chopra of Syscare was elected as the
new President of the association. Rajan Singh of Akash Infotech has been
appointed as VP, Sandeep Agarwal of Shree Enterprises as Secretary and
Ashish Arora of Solution Infotech as Joint Secretary. On the upcoming
activities of the association, Chopra shared that they have stared giving
medical insurance, worth Rs 2,500, to all its members. The association is
also coming up with a service book for dealers. “We are planning to make it
mandatory for all dealers in the region to keep this book and give it to
their customers after servicing them, in order to get their feedback. The
service book will consist of three free service vouchers.” Chopra also
informed that the association will help those dealers whose money is stuck
in the market since long to recover it.
When The DQ Week contacted Swetanshu, the owner of Swetech Enterprises, about
the speculations in the market reagarding his company, he rubbished them saying,
“I have two shops, which are functioning. Hence, there is no question of being
unapproachable. I am also on good terms with people in the market, and my
business is doing pretty well, with a turnover of Rs 3 lakh to 3.5 lakh. And as
far as rumors about my company being under debt of Rs 18 lakh are concerned,
please tell me the names of the companies who have put these charges against me.
I will in turn file a case against them for defaming me and my company name.”
He added it was common practice for a partner to have a few lakhs stuck in
the market in some or the other form. “As part of rotation business, even my
money of about Rs 12 lakh to 13 lakh is stuck in Lucknow and upcountry regions.
Whom should I blame?” he argued.
Despite repeated attempts City Compaq Systems was not available to comment.
Shedding light on Konarka's case, DR Chopra, CEO, Syscare and the new
President of ACDWA said, “There are a few companies in every region who hold a
reputation of taking money from the market and then delaying the pay-backs for
some or the other reason, and sometimes, not returning it at all. I would not
like to take the names of such companies. Konarka made a mistake by dealing with
wrong and untrustworthy people in business. Besides a few personal problems, I
feel that another reason why Sharma shut down Konarka was that he saw more
profits in other businesses, which is why he now deals in sand and transport
According to a market source, Konarka also lodged a complaint against Swetech,
but they settled the case on unknown conditions. Sources also revealed that
partners in the region are planning to take firm steps against such parties, by
logging a police complaint and are consulting an advocate for the same.