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.