Dear Sir,
I have taken a loan of Rs. 23,25,000/- vide loan no. “50000563339” against Seized Equipment of 1#Ex200LC vide Machine SL. No.: 2001 6194. Earlier this machine belongs to Beria Engineers & Builders Pvt. Ltd” which has been sold by ICICI Bank.. Due to non payment of EMI in time, The same was insisted me to procure the same. I have decided myself to procure the same machine from Kollkota Branch of ICICI Bank LTD. But before handover of the same, I have enquired for Physical Checkup before signing any Agreement / handover the Down Payment in favour of “ICICI Bank LTD”. But I was assured that the Machine was in working condition & doing the job perfectly & does not have problem. When I have taken the delivery of the same, it was clocked more than 4000 hrs.
Moreover they have taken downpayment from me of Rs 7,75,000/- one month before signing any agreement as they told me that the said amount has to be deposited before taking any approval.
But the machine is giving problem on day to day basis which I have been highlighted to their Branch office earlier also. I have also requested them to to send some staff for physical Inspection & identify whether it is true or not. It is next to impossible for me to pay the EMI if Machine can not operate properly. I don’t want to loose my image in the Market due to non-operate of the Machine for which I have taken from the ICICI Bank LTD.
I have enquired about the history of the machine and came to know that the machine is a old machine of 2001 model and have refinanced me a old machine of 8 years old promising me that it is a new machine also life cycle of the said machines are 5 years and moreover refinance cannot be done to such types of machines who are old of 4/5 years the was to be disposed to scrap but it was refinanced.
with regards,
A.Ahmed
