Thanks for your replies. I finally decided to part with my .22 AK500. Kovibazaar agreed to refund me the complete amount (thanks to their excellent customer service). The rifle reached them and I ordered a Precihole NX100 Polaris with walnut stock from kovibazaar itself yesterday. Waiting for the package to reach me. Meanwhile let me write a short review of the AK 500 from the brief stint I had with it.
Why I chose AK 500?
With the very little experience I had (an IHP I got a chance to shoot some years back), and filled with fascination of guns, I started searching this forum for a good AR within my humble budget of around 5K INR. Reading many expert's opinions (like Basu sir), I almost locked down on SDB sport when suddenly the AK 500 review by sathya changed my mind. It had price advantage and I really liked the finish of it and the longer stock, seeing the pictures and I ordered it from kovibazaar.
In my hands:
The package reached me within 5 days via indiapost. It was neatly packed in disassembled form (barrel and stock separated). It didn't have any branding on the card board box and had no user manual. Assemblying it was a breeze - three screws tightened and it turned into a marvellous AR. It is on the heavier side. I didn't weigh it using a scale but should be around 3.5 to 4 kg. It stole my heart at the first sight itself - except for the Agni labelling that looked a bit amateur to me. The twin barrel really gives it a large rifle feel. The barrel had really nice rifling and the stock quality was really good.. nicely polished and well built. The stock finish of the most recent IHP 35 I saw in the local armoury looked way inferior to the AK.
First shot:
The sights were average ones (not the kind of quality sight I saw in precihole in the local armoury), but does the job fine. Elevation adjustment had nice dial whereas windage needed screw driver for adjustment. Cocking the gun needed quite some effort; a thorough but uniform pull was needed. No slap required to expose the breech, possibly due to ball bearing design? I loaded it with Master shot .22 pointed hunter pellets. I prepared a tupperware box full of sponge and thermocol with a window made at the lid to fit target paper, held it at approx 6 meters distance on a stand, aimed and pulled the trigger. The trigger has quite some weight and is single stage. I heard a loud bang (no spring twang sound) with quite some smoke. I wondered for a split second if I really bought a fiream instead of an AR

The weight of the AR felt a boon in controlling recoils in my opinion. The dieseling settled after a 100 shots or so and my accuracy improved over the week. In better hands the rifle gave more accurate results. My friend who is a rifle club member came over to see my gun and he did pretty accurate shots and had high opinion about the gun. He even insisted that I ignore the law and keep the beauty

Over the next weekend I made a nice pellet trap using a meter box I bought from electrical shop.. Costed Rs 600 and 2 hours of my time to set up. Will post photos and DIY some time later. I shall also post a review on my NX100 once I get it delivered.
Please do post your comments/questions (no expert level questions please

Signing off for now