Klassic Computech & ICICI Bank Lock Horns

In a case that could alarm all the

resellers and retail partners across the nation, Faidabad-based

style="background: transparent none repeat scroll 0% 0%; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">computer

dealer, Klassic

Computech has been deprived of the sales proceeds by the ICICI Bank.

In an exclusive conversation with style="background: transparent none repeat scroll 0% 0%; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">The

DQ

Week style="background: transparent none repeat scroll 0% 0%; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">,

Nidhi

Sehgal, Director of the Klassic Computech stated that a customer

purchased an HCL ME series laptop for Rs. 34,800 on January 22, 2010

with ICICI Bank's VISA card. The dealer also received an approval

code for the payment from the bank. Subsequently the said amount was

credited into the merchant account but after a month the bank

deducted the said amount due to some disagreement with the card

holder.


"Its very unfortunate that the

bank has deprived us of the money that we were supposed to get from

that laptop sale. As a process, we have already taken a copy of

customer's voter identity card and the transaction approval from the

bank. We have received payment of the entire amount from the bank on

Jan 28, which was later debited," said Sehgal. She has already

sent a letter to the ICICI Bank's MD and CEO, Chanda Kochhar and

apprised her of the issue. The bank however said that they have

relived a charge back on the transaction from the card holder, who

sought clarification. In a communication dated May 27, the bank

finally turned down Sehgal's request to credit the aforesaid amount.


"It's our hard earned money and

how can a bank take us for granted. They can't take settlement money

back, after a month. The issue is apparently with the bank and the

card holder, and this is clearly an unethical practice," said

Sehgal. According to her, they have already sent the relevant

documents to the bank officials, but the bank did not send any

acknowledgment. "This is a matter of great concern, and I have

already informed all the retailers in the area, as this could happen

to others as well. Now, I'll be sending a legal notice to the bank

soon," added Sehgal.