This is a discussion on City Limouzine within the Investment forums, part of the Financial Services category; Hi, I have not received any intimation from City Limousine about check deposits. It is only today when I called ...
- 09-07-2009, 10:14 PM #31Unregistered Guest
City Limouzines Issue
I have not received any intimation from City Limousine about check deposits. It is only today when I called up the Chennai office to know the reason why all 3 checks of mine dated 29aug09 were bounced, they asked me to wait until sep 15 to redeposit. I don't know anything about the issue. what do I do? I have 3 checks dated 24th each month and 2 checks dated 2nd each month. Totaling an EMI amount of 20,000 per month. Somebody tell me what is the issue and kindly suggest anything that you think might be helpful in resolving the problem. My mother survives on this EMI as this was the investment of my late father with all his life savings.
- 09-07-2009, 10:32 PM #32Unregistered Guest
every body when u dont know anything, u should not post your precious (you think its precious), then u tell me have u any other investments that can give u good returns?
look at the advertisings here (life insurance n mutual funds n bla bla bla), they r smart, they took their profit n share (huge one) at the start of investment from u n then play with your money, then let whatever happens to their NAV.
withouth knowing the final stauts dont post such stupid quotes
if any investment company keep their profit low n give investors then high returns are always possible but............
let it be indian public... kya samzane se koi fayada hota hai
there are many topics which need to be attended by people like u who just interfere others,
but no guts to fight againts, n posting their review here
bhai log gandhigiri se kuch nahi hota hai.....everybody knows that
- 09-07-2009, 11:14 PM #33Administrator
- Join Date
- Sep 2008
- 09-07-2009, 11:37 PM #34Ann Delorme. Guest
I am an investor in City Realcomm I would like to know what action I can take for a
bounced cheque and for breach of the Agreement I signed with the company.They have
stopped payment of interest on the five and a half lakh rupees I invested.
Acccording to an e-mail I received from another investor, the company has moved the
court to protect itself from its creditors under section 391,392,393,394 of the
Companies Act 1956.
I will also consult my lawyer. Please help with sound advice. Thanking you, Ann
- 09-08-2009, 12:42 PM #35Unregistered Guest
City Investment case details
Please find below the case details.
"IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPLICATION (L) NO.871 OF 2009 .
City Realcom Ltd. ..Applicant.
COMPANY APPLICATION (L) NO.872 OF 2009 .
City Limouzines (India) Ltd. ..Applicant.
Mr. Simil Purohit, i/b. VN Associates, for Applicant, in both
CORAM : S.J.KATHAWALLA, J.
DATE : 29TH AUGUST 2009.
Not on Board. Taken on Board.
2. The applicants are seeking urgent ad*interim reliefs in
terms of prayer clause (b) which reads thus :*
that pending the hearing and final disposal of the
company petition, all proceedings, civil and criminal arising out of
the dues of the class A and class B creditors including but not limited
to the proceedings under the Negotiable Instruments Act be stayed
against the applicant company and its Director/s.
3. The Company Registrar has submitted a list of 27
objections which the applicants are required to comply, after which
both the applications will be numbered.
4. The applicants shall remove the said objections and only
thereafter move this Court for urgent reliefs. In view thereof, no
orders are passed in the company applications.
Court has given permission on 04.09.2009 to run company only. Regarding the payment relif decision court hearing is on 09.09.2009. All investors should wait till 9th Sep-09 for payment relif order by the court.
- 09-08-2009, 12:58 PM #36Unregistered Guest
City Realcom Limited - Bounced cheques
I am also a victim at Chennai. Pl let me know whether any meeting is beeing convened to discuss the issues.
- 09-09-2009, 02:42 AM #37Junior Member
- Join Date
- Aug 2009
city limouzine trying to get a stay order!
The applicants, i.e city Realcom Ltd and City Limouzine India Ltd are seeking urgent adinterim reliefs in terms of prayer clause (b) which reads thus :
“that pending the hearing and final disposal of the company petition, all proceedings, civil and criminal arising out of
the dues of the class A and class B creditors including but not limited to the proceedings under the Negotiable Instruments Act be stayed
against the applicant company and its Director/s.”.
This means they are looking for a stay on all potential suits from us investors that may happen as a result of cheque bouncing or even non payment.
This has nothing to do with FEMA. What we are being told by City employees is not true, that today's court decision will solve all problems. It will only tie our hands. I hope you folks are understanding what we are in for this morning in court.
Our prayer should be that judge does not give a stay but instead orders city to tell us everything clear cut and start making payments before any further petition is heard.
- 09-09-2009, 02:43 AM #38Junior Member
- Join Date
- Aug 2009
- 09-09-2009, 07:10 AM #39Junior Member
- Join Date
- Aug 2009
another city limouzine court date
Now, to make matters more interesting just found out that there is a hearing on Sep 15th as well, where city has filed a petition in court against the state of maharashta, and this is as per the criminal code act of India. Those who want to see details- please go to the bombay high court website, click on case status, then case number wise, then go to side= criminal, stamp= register, type= criminal written petition, No = 2406, Year = 2009. See what you get there.
Lets see what happens today at the Bombay High Court. There are two different hearings!
- 09-09-2009, 03:12 PM #40Unregistered Guest
Please Dont Panic - Our money is safe
Hi, I am arun from chennai, I have invested some of rs 1.4 lakh towards city realcom two years go. Unfortunately my last cheque (August 2009) payment got stopped. When i am phoned city group chennai branch today (09/Sep/2009) Ph: +(91-44) 2823 0400 they said case against city group filed in the court. we suppose to get judegement today or tomorrow. If we have received positive judegement we will continue city groups else we will return your capital amount.
Letz wait..... I will keep positing you the queries.
- 09-09-2009, 03:54 PM #41Unregistered Guest
What's happenning? How can we protect ourselves against non payment by the company ?
These people can use our hard earned money to protect themselves. We invested because we were in need of money to survive and not to run amok for fun.
Please think of doing something from our side collectively before it is too late.
- 09-09-2009, 04:01 PM #42Junior Member
- Join Date
- Sep 2009
Hi this message is to no particular person .sorry to hear about City limouzine india ltd company i have been a investor in this company since many years and so far the company was doing good.many of the ppl have invested their hard earned money in this company but the case that EOW has registered against the company is not a new one earlier cases like these have been registered against companies like Unique finance,JM freight ,sigma autolink .i myself have been a witness to majority of the cases of JM freight company which took 7 months to clear themself from all the cases.my only appeal to the ppl is that even if u register a case its not gonna help u as u urself will be delaying the court proceedings.i spoke to the staff from the mumbai branch and they too gave me assurance that everything will be cleared they havent yet got their salary since 2 months but still they are working cos they believe that everything will be cleared.so i request all the members not to panic .
- 09-09-2009, 07:03 PM #43Unregistered Guest
i called chennai office by 5.45 pm today and i was told that the city have cleared the case and will receive the order for the same buy 2-3 days. Director will also come to chennai office for repesenting the same.
Also told to deposit cheque after Sep 15th.
I hope we are getting some positive response and hope City goes well
- 09-09-2009, 07:41 PM #44Unregistered Guest
Bad news guys about CITI Limousine
Today i got to know that they have closed their Delhi(Nehru place) office.
No idea whts goin on.....complete dark....
I have around 8-9 friends who have invested in Citi.
Today i got to know that the hearing is pending in court & will get the judgement from court tommarow(Bombay high court).
- 09-09-2009, 08:58 PM #45Unregistered Guest
if i file the case tomorrow will some on support me.
can i sell the shares certificate given by them i got 500 shares.if the company is closed who will interfere in this will the government or any comapany will buy this company or what the same happened to mahindra satyam.
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