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