[Resolved]  ICICIcredit Card — Not Honoring the Settlement

Dear All

This pertains to the Settlement for my ICICI - AMEX credit card [protected] ref. nos. ICWE1MUM/032009/32180/4

I had solicited the settlement in March 2009 and as per the requisite conditions made the payment of Rs. 36000 in installments completing in June 2009. Details as follows

1. Cash Payment of Rs. 2000 [22/03/2009] - Receipt nos. C[protected] dated March 22nd 2009 - collected by Siddhi Business Solutions.

2. Chq Payment of Rs. 2000 [Axis Bank 202640 dt. 30/03/2009] - Receipt nos. C[protected] dated March 22nd 2009 - collected by Siddhi Business Solutions.

3. Chq Payment of Rs. 8000 [HDFC Bank 471972 dt. 02/04/2009] - Receipt nos. C[protected] dated April 01st 2009 - collected by Siddhi Business Solutions.

4. Chq Payment of Rs. 12000 [HDFC Bank 471973 dt. 02/05/2009] - Receipt nos. C[protected] dated April 01st 2009 - collected by Siddhi Business Solutions.

5. Chq Payment of Rs. 12000 [HDFC Bank 471974 dt. 02/06/2009] - Receipt nos. C[protected] dated April 01st 2009 - collected by Siddhi Business Solutions.

According to the settlement conditions; all these five transactions were to be considered towards the settlement of Rs. 36000.

In June i received a statement which still did not reflect the 'zero balance' as per assured at the time of settlement in March 2009.

The discrepancy was pointed out by me on a number of occassions to ICICI Bank Customer Care call centre, who reassured the same would reflect after 45 days of the settlement completion...i.e. 45 days after June 02nd...i.e. July 17th 2009.

1. Complaint on June 16th 2009
2. Again on July 04th 2009 – SRN[protected]
3. Again on Sept. 24th 2009 – SR[protected]…asked to chk after 08th Oct 2009 – Mr. Deepesh and Mr. Sandeep
4. Again on Oct 11th 2009 – SR[protected]
5. Again on Oct 27th 2009 –[protected] – Mr. Uday

I got a rude shock when ICICI collection team [Mr. Naresh Shetty] called back on Oct 27th 2009 – claiming that the settlement had gone void due to non payment of the settlement amount of Rs. 2000...this was also confirmed by the call centre saying that the cheque payment on March 22nd was considered but cash payment on the same day was not.


Two Discrepancies with the collections:

1. All the four chq payments have been cleared from the respective account. Also though the initial cheque and cash payment was collected on the same day…still only the cheque payment was accounted and the cash payment was not account. I had initially pointed the same to Mr. Shakti Hadkar of Siddhi Business Solutions – collection Agency…but he had reassured and had me talk to some of his senior to get the settlement done.
2. The May 02nd cheque was banked late by ICICI bank and funds collected late and hence it showed a violation of the settlement. This logic was given to me by your customer care centre. The onus of the cheque being deposited lies on the bank.

ICICI collection Agent Mr. Naresh Shetty [[protected] / 66493417 / 66493494] was very rude to begin with and used threatening language.

The Bank is not willing to give in writing the stated reasons as to the status of the settlement and has been dragging its feet since June 2009

regards
Swapnil Kamble
[protected]