@ rajelectroniks:
Thank you for sharing this information. I contacted Mr Sanjay on the phone number listed above. He has told me that they do not handle warranty / guarantee for this product bought from ebay. Looks like I paid Rs. 17499 for a piece of plastic.
A note to Sellers in general, please do not list such incorrect information regarding manufacturer warranty etc. If the product is "as is" or with "Dealer Warranty" sell it as such. This may not be applicable to most Sellers but there are a few out there that will end up deterring buyers from buying products on ebay.