TRANZLEASE HOLDINGS PVT LTD Complaints & Reviews

On 11th feb'10 mr.hari kaushik (V.P) from tranzlease holdings met us (prabhas and lakshmi cabs) in chennai office, explained about their financial position and future plan and comitted to pay partial amount
(Rs.5, 00, 000/-) on today 16th feb'10. balance will be settled before 31st march'10. if they paid as per their commitment we are agreed to continue our full support to them in future.

For PRABHAS
P.PRABHAKARAN
+[protected]
Proprietor.

Mr.Hari Kaushik from Tranzlease Holdings cheated us. Till now we didn't get any payment. even they didn't paid part payment what they committed on 16th feb'10. They insisted us to remove my complaints
from consumer forum to issue cheque. But we refused.Because they never ever followed their commitment. just they have to pass days without any phone calls from us. Mr.Hari said a nice story
about their future plan . Mr.hari If you could not follow your commitment how can you do bussiness in future. particulerly in chennai. As per your request We submited new invoices last week. But no use till now and no one is attending our phone calls. I didn't get Form 16 (TDS certificate) for the year of[protected]. is there any idea to close operation all over india?

Tranzlease has taken note of the various complaints on various dates as posted on the site by Prabha. We would like to now clarify and put forward the reality of the situation in very clear terms as below - The transactions mentioned are in no way related to TranzLease. TranzLease is a successful multinational organization involved in the business of operating lease of passenger vehicles and is not involved in the business of running tourist vehicles. Such tourist vehicle business was started by TranzLease but after 31 March 2009, the same has been completely transferred to a separate legal entity, India Fleet where TranzLease has a minority shareholding only – Tranzlease is not involved in the business of India Fleet and is in no way related to commercial or other obligations of India Fleet; currently TranzLease is only acting as a collection and payment agency for certain transactions of India Fleet.

Prabha’s claims and accusations are frivolous and results from complete misunderstanding – Prabha has supplied certain vehicles to India Fleet which in turn has supplied such vehicles to ultimate consumers. There is a very clear cut understanding that payment to vendors are linked to and subject to (a) reconciliation i.e. correlation of vendor bills with invoices raised on customers (b) completion of collection on invoices raised on ultimate consumers; once such collection is completed and each vendor invoice is authenticated then only payments will be made to vendors. Since payments have not yet been collected from customers there is no question of any payment being made to Prabha.

Tranzlease representatives, on the basis of representation by Prabha regarding his financial crisis had promised to arrange some ad-hoc payments but the same does not represent or constitute any legal commitment or acceptance of the liability as TranzLease does not have a locus-standi of doing the same being only a collection / payment agent for India Fleet. The facilitation was discussed on a humanitarian ground. Moreover, reconciliations are also pending. Since collection has not been completed and reconciliations are pending Tranzlease, acting in a fiduciary capacity is not in a position to release payments to Prabha. However, as a vendor and business associate Prabha is welcome to participate in the process of collection to ensure his own payments. The reference to Tranzlease trying to “cheat him” of his dues is very immature and reflects a lack o[censored]nderstanding. There is always a commercial risk in running any business and if Prabha is not willing to take up the same then we have nothing else to comment on.

To conclude payments will be made only when collections are complete. There is nothing further to the issue and the issue itself does not merit any further consideration. We have no issues in Prabha approaching authorities; our legal counsel will be happy to answer any queries from any person with a legal right to discuss the above matter henceforth. On a commercial ground, we have received intimation from ultimate consumers about releasing payments shortly and accordingly, once the same is collected and reconciliations are done any payment due to Prabha shall be released.