Electrotherm (India) Ltd.
A-1, Skylark Apartment,
Satellite Road,
Satellite, Ahemdabad-380015.
Phone: +91-79-26768844
Fax: +91-79-26768855
Email : ho@electrotherm.com
Beware of Electrotherm (India) Ltd. While paying advance against any order. We had paid advance and will regret our whole life. Kindly read their agreement clause by clause, between the lines. Their agreement is like the same of mutual funds. (Mutual funds are subject to market risk and…. The clause is given very less value/less highlight when signing the contract).
We are a medium scale industry, paid advance of Rs.3300000/- vide for order no. OA/1789 dated 23rd December 2008 for order of 7MT industry furnace. Since market suddenly became slow and seemed unfavorable, we were in dilemma whether to proceed for expansion, and in good faith had requested and informed Electrotherm verbally about the probability of delay. Our mistake was that we did not send any written/formal letter. Finally, due to delay in sanction of loan, we decided not to go with expansion and cancelled the order.
After chasing up with Mr. AnandShekhawat (Marketing manager) for years, Company finally replied on 24th march 2012 (after chasing for 3.5 years) to pay sum of Rs.351000/- i.e. less than 10% of advance money paid.
We are businessmen known for reputation & man of commitment since decades. It is a norm that we are optimistic and do business; sign purchase agreements, bank loan agreements mostly on good faith. All good faith reciprocated the same except Electrotherm India Limited. We are thankful to caster company such as Concast India Ltd. and other companies who in time of cancellation have refunded 65-70% of our advance money.
We feel that we have been slapped by this company, whose intention was bad and not to refund any amount. To simply put, they are opportunist – Conscious policy and practice of taking selfish advantage of circumstances-with little regard for principles.
It was the most disgusting transaction and experience of our life. We are not interested to claim the leftover of Rs.351000/- (less than 10% of advance paid). We believe in law of Karma and pray that this incident should never happen with anyone.
Above instance clearly depicts ill intention of the promoters.
Regards
Reliable Sponge (P) Ltd.
Corporate & Marketing Office
Dua Complex, Panposh Road,
Mob-91-9437565877 (Somnath Sharma)
Rourkela-769004,Dist – Sundargarh, Odisha
reliableindia.co.in
A-1, Skylark Apartment,
Satellite Road,
Satellite, Ahemdabad-380015.
Phone: +91-79-26768844
Fax: +91-79-26768855
Email : ho@electrotherm.com
Beware of Electrotherm (India) Ltd. While paying advance against any order. We had paid advance and will regret our whole life. Kindly read their agreement clause by clause, between the lines. Their agreement is like the same of mutual funds. (Mutual funds are subject to market risk and…. The clause is given very less value/less highlight when signing the contract).
We are a medium scale industry, paid advance of Rs.3300000/- vide for order no. OA/1789 dated 23rd December 2008 for order of 7MT industry furnace. Since market suddenly became slow and seemed unfavorable, we were in dilemma whether to proceed for expansion, and in good faith had requested and informed Electrotherm verbally about the probability of delay. Our mistake was that we did not send any written/formal letter. Finally, due to delay in sanction of loan, we decided not to go with expansion and cancelled the order.
After chasing up with Mr. AnandShekhawat (Marketing manager) for years, Company finally replied on 24th march 2012 (after chasing for 3.5 years) to pay sum of Rs.351000/- i.e. less than 10% of advance money paid.
We are businessmen known for reputation & man of commitment since decades. It is a norm that we are optimistic and do business; sign purchase agreements, bank loan agreements mostly on good faith. All good faith reciprocated the same except Electrotherm India Limited. We are thankful to caster company such as Concast India Ltd. and other companies who in time of cancellation have refunded 65-70% of our advance money.
We feel that we have been slapped by this company, whose intention was bad and not to refund any amount. To simply put, they are opportunist – Conscious policy and practice of taking selfish advantage of circumstances-with little regard for principles.
It was the most disgusting transaction and experience of our life. We are not interested to claim the leftover of Rs.351000/- (less than 10% of advance paid). We believe in law of Karma and pray that this incident should never happen with anyone.
Above instance clearly depicts ill intention of the promoters.
Regards
Reliable Sponge (P) Ltd.
Corporate & Marketing Office
Dua Complex, Panposh Road,
Mob-91-9437565877 (Somnath Sharma)
Rourkela-769004,Dist – Sundargarh, Odisha
reliableindia.co.in