Many of us across the country have invested in this fraud company. They have thousands of lakhs of rupees invested. The compnay has shut down now, now what do we do?. How do we handle the problem. Even i had invested lakhs of money in this company and my last investment by bad luck was in the month of August which was of 3 lakhs. i did not get even a rupee back as a return. Instead i was told the company is shut. If anyone has any detail on how to register a complain or how to deal with it in HYDERABAD please mail me at farhanakhan999@hotmail.com Thankyou!

Hello,

I would like to complain about the investment company City Realcom where I had invested Rs262000/- (Rupees Two lacs sixty two thousand only). The company promised monthly returns of Rs17600/- in 60 monthly installments.

Now the company has breach the contract and there is no response from them. The cheques have bounced for "Insufficient Funds".

I need consumer court help in getting my principal amount that I had invested. If any other investor who have already logged the complain and has started the legal procedure to recover money I would like to know what is right way to start the procedure.

City limo has come up with compromise scheme..........please read it in citylimouzines.com.....in public intrest column........so nothin to worry.and high time to stop speculatin and just wait for govt and high court to do their work

I would like to complain about the investment company City Limouzines where I had invested Rs1,04,000/- . The company promised monthly returns of Rs4000/- in 60 monthly installments.

Now the company has breach the contract and there is no response from them. The cheques have bounced for "Insufficient Funds".

I need consumer court help in getting my principal amount that I had invested. If any other investor who have already logged the complain and has started the legal procedure to recover money I would like to know what is right way to start the procedure.

So Dear Friends, Any news as yet, Whats the latetst build-up, or is it that all are waiting to see what happens on 14/15 October?

Any other news from any 'authentic' company source?

U can mail me on snajeebr@rediffmail.com .Thanx n lets hope for the best.

Friends any idea from where to collect the proxy form and where to submit it.
One of the investors had said that the advocate office mentioned in the Public interest page is a small used car sellers office, no idea abt the authenticity of this info, none-the-less...
What about the City Limo registered office in Mumbai, Nariman Point, Is it open or even that has shut down?

Plz revert with confirmed information.

i want to know why goverment is not showing any action against massod why he is not geeting arrested he had bonced lacks of cheques of the investors let me no

Hello friends,

This information is in regards to the meeting which was scheduled on 14 Oct'09 at Wilson High School.

There were thousands of investors who had come down that day.
The area was jam packed.
I was not able to get in the school premises as it was alread over-flowing with people along with thousands of them who were waiting outside.
There were a large no. of police personnel who were present there.

I was told that there was also a judge present, who was appointed by the court.
It was indicated in the meeting that only the principal amount will be returned with 7% reducing balance.

Incase the principal amount of investment has already been covered in your cheques, then you stand to gain nothing. Nothing will be given then.

Incase the principal amount of investment is partially paid, hen only the balance left from the principal amount will be given back with 7% interest on reducing balance in 12 installments.
For eg.
1) If u have made an investment of 1,50,000/- and nothing has been given by City Limo/Realcom then the amount given back to investors will we Rs.1,50,000/- with 7% interest on reducing balance in 12 monthly installments.

2) If u have made an investment of 1,50,000/- and suppose you have already received 10 cheques of Rs.5000/- amounting to a total of 50,000/-) all cleared, then the balance amount given back to investors will we only Rs.1,00,000/- with 7% interest on reducing balance in 12 monthly installments.

3) If u have made an investment of 1,50,000/- and your amount has already been covered in previous cheques, nothing more will be given by City Limo/Realcom. That means, if u have received some amount more than Rs.1,50,000/- its is ur good luck. if u have received just Rs.1,50,000/- you stand to gain nothing more.

There was another proposal whether the investors want to continue the scheme. as such there will be voting. and we will be getting a letter by post and we need to decide whether we need to money back or continue with the scheme. There is some discrepancy on this because some people present said that City Limo will first clear off all the pending pay outs (to current investors) and then start with fresh schemes after that and if some one ones to re-invest he will have to make fresh investments so the continuity of present schemes is not the option, according to this version all current schemes will be terminated and fresh schemes will be launched

The process will take a period of 3 months and the above mentioned resolutions will be done only after 3 months. Meanwhile they said that they will utilize the period of 3 months for voting. and City Limo offices will reopen after Diwali.

Some say that the director of City limo also added that incase the police continue to harass them and any further arrests take place then he will discontinue with the payments to all.

There was supposed to be another meeting at 3:30 pm and many people were waiting for that but later on it was continuously announced by the police that the meetings in the afternoon were cancelled. On further inquiry they said that the meeting on the next day (15th October) as well have been cancelled and for any further developments we need to look for news in the News papers.

Infact there was an article in the DNA newspaper the next day on 15 October, wherein it was mentioned that it is required to take prior Police permission to hold such meetings and City Limo had applied for the same but were denied permission but still they went ahead with the meeting and hence some 5 of their executives were arrested and further meetings on that day n the next day as well were cancelled.

As of now this is the current scenario. If anyone has more updates kindly share the same.- Najeeb
(Mail id – snajeebr@rediffmail.com)


Last but not The Least!!!!
May the divine light of diwali spread into your Life peace, prosperity, happiness and good health. Happy Deepavali

sir
its already three months that this company is paying the funds and postponing the decesion on govt lines, is there any real commitment by them or just dragging the issue to make investors forget their hard earned money. if any body have any news kindly lets us know.


siva

Dear all Hyderabad investors,

Tomorrow i.e 8/11/2009 meeting at Indira Park ,lower tank bund,Secunderabad, sharp at 10 am , all Hyderabad investors are requested to join the meeting to know about the present situation and future plans to get our money back. Please inform this message to all Hyderabad investors.

respected sir/madam
i am have a small family, by the possession of my friend i invested Rs 130000(one lakh thirty thousand) in city limouzine india ltd company and the company claims Rs 8800(Eight thousand eight hundred) , and now i am feeling insecure. i found the only gateway of your site to get justice, pls look into the matter and give me the details of the company and also by this you can help people to get them warned by this type of companies, i am having faithin my countrys judical and consumer court department that they can solve this, so pls look into the matter and maintain your faith forever in the indian citizens heart.........

Thanking you in anticipation
sandeep poojary

Hi i am not in india pls let me know what happen in the meeting any good news.
mail me on y2k.kiran@googlemail.com

Regards
KK

Originally Posted by matta

Dear all Hyderabad investors,

Tomorrow i.e 8/11/2009 meeting at Indira Park ,lower tank bund,Secunderabad, sharp at 10 am , all Hyderabad investors are requested to join the meeting to know about the present situation and future plans to get our money back. Please inform this message to all Hyderabad investors.

Hi All.
Like you i am also cheated by city limozine now one of our group in Delhi going to file a suite against this company in Delhi High Court If any body intrested to join us from Delhi plz Call me on 09999290666 or Mr Rampahal Dahiya on 011- 20558535. My Email Id anil.ahlawat1974@yahoo.co.in
Thanking You
Anil Ahlawat
9999290666

some cases are already filed on this company and the investigation is going on. once the investigation is over the company will come out with some scheme as we know to pay, provided the company is not declared insolvent. even if we file the individual complaints, courts will not look into them invididually and these individual complaints will be clubbed with that investigation case only. so we can just wait and watch for the time being

Hi All,
I am also an investor like you in city and so many other companies but you know there is always a risk associated with such kindaa investments, so you should always diversify your funds in different companies, as far as the case of city limouzines is concerned the company was runnning smoothly and without any intention of cheating or befooling the investors, but the people asking for Govt. interferance should know that it's the government who is responsible for the crash of the company(though it is because some of companies foriegn businesses and returns). The company did a large transactions of money abroad and govt. bodies are considering it as a hawala scam or something else coz it was crossing the limits and came into govt. knowledge.
As far if we talk about legal issues than if the company cannot survive which is very much likely to happen now, than govt. will dissolve the company and than accordingly dues will be cleared
1.Govt. dues,than 2. creditors, 3. preference share holders, 4. all other investors it is not sure how much time it will take or how much money you will get back but you will get atleast a part of your money or maybe the full principal with a lower interest rate maybe around 7%/annum.
Company requested govt. to allow them to work properly for the sake of public, but they are totally siezed by the govt.All this is whatever i know about the company and is a genuine news for all of you.
Regards
Suds