An update guys.
Today morning I procured a CR1620 battery (not 1625 as I said earlier) and replaced it in the remote. Result was the same. Replaced in the spare key. Again same. So that ruled out a faulty battery and a faulty key.
Then I followed Biju's method to disarm the system. Took 8-9 tries, but finally it was disarmed as I took the key out of the slot and not just switch it off everytime before hitting the security alarm key.
Alarm thus disabled, drove this afternoon to Chowgule's A.S.S. Explained the problem to them. A mechanic came in, fiddled something in the hood, armed the system again and then viola , it started working again.
I personally tried lock and unlock at his place for about 10 times. Worked like a charm.
When asked what the problem was, I was informed that "remote aur system ka tuning chala gaaya tha". (Remote and alarm system were out of tune). When asked what he did (he flipped something like a switch or twisted a knob or something, which I just cannot locate now) or what to do in case it happens again, I was informed that I should bring it in, as today.
Okay, happy in the knowledge that my problem was solved I drove home carefully on the pot-holed roads. And once home..wait for this...it stopped working again. The good thing is, I realised it was not working as I was attempting to lock the car with the remote.
All sorts of thoughts came in my mind that this spot may be affected with a powerful electromagnetic field (
) and thats probably interfering with the remote, I got in , drove off for some distance and tried unlock/lock again. Andd...nothing happened really. It was as if I was trying to work on a car which was not fitted with an alarm system at all.
Disappointed, drove back to my usual parking spot, took the key out of the slot and...the alarm started shrieking. Again. D'oh.
In a semi-panic state, I hit the lock button. And double D'oh. It starts working again. Just to check, locked and unlocked it a few dozen times. Worked like a charm, all the time.
Need to get the system thoroughly inspected. Maybe on Monday now.