[Resolved] City Limouzines — financial fraud | |
plz report the mattter to SFIO and RBI urgently Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 489 Comments | |
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ALL INVESTORS FROM DELHI ARE REQUESTED TO MEET AT THEIR NEHRU PLACE OFFICE TOMORROW IN SECOND HALF.
KINDLY CONFIRM BY POSTING REPLIES OR CALL[protected]
KINDLY CONFIRM BY POSTING REPLIES OR CALL[protected]
Dear all its a humble request to all investoers pls come in neru place o ffice and ivetigate the matter, why they stop our Cheques ...[protected]
Hi all, m here overseas n too much worrying about my investment, coz my last cheque got bounced, m requesting to all of investors that do something quickly i[censored] can, n grab the clear thing out, its our hard earned money and trust as well, no one is allowed to smash this. if anything comes up please email me, or post ur comment. thanks and best of luck to all.
The news that i heard from one of my friend here in chennai is that City limouzine has won the case and allowed to continue with the business, but the hearing for the City realcom case is on 16th Sept it seems. Ppl say that some restructuring is about to happen and im sure that our money will not go anywhere but the returns would be slashed. Lets keep our fingers crossed and wait for more updates.
In case if anyone has some other opinions on this please keep posted.
Thanks,
Vinesh
In case if anyone has some other opinions on this please keep posted.
Thanks,
Vinesh
I am an investor with CITYLIMOUZINES with the borrowd money from various CREDIT cards on EMIs since last one year. The sudden stoppage of payment since August 15 2009 has shocked me & put me in a great shocking status. I have lost my sleep on night thinking that what will happen if the problem persists further. I shall be unable to repay the EMIs of the cerdit card. Then what will happen thereafter. This month EMI has been paid by surrending my LIC policies. But how can I pay in Oct 09. What will happen to my dependents if I take any adverse step in life ??? Will any one advise me on the issue.
Anirudh
Anirudh
it seems that company has gone, it doesn't exist now, whatever may happen i feel it wont be able to generate and provide money of so many people, i hope it should return money but it seems impossible to me
Dear all one of our Investor send me mail today kindly check 10 spetmeber Times of india
Investment co seeks stay on cases of bounced cheques
C Unnikrishnan | TNN
Mumbai: City Limouzines (India) Ltd, which is being investigated by the police for cheating and the Enforcement Directorate for foreign exchange violations, urged the Bombay high court on Wednesday to stay cases of cheque bouncing registered against it.
The company’s advocate V K Maurya refused to disclose to TOI the details of its application before the court. Justice S J Kathawalla has kept the matter for hearing on September 16. The high court is also hearing two other applications by the firm’s sister concerns.
The company, which promised 48% returns, has run into trouble after the cheques it issued to its investors started bouncing. In some of the instances, the company has instructed the investors across the country not to deposit the cheques till further notice.
The economic offences wing of the city police is investigating a case of cheating on the complaint of one of the investors after the company reneged on one of its promises.
A group of investors turned up at the high court on Wednesday seeking details of the application filed by the company. One of the investors got into the witness box and apprised the judge of their worries. Justice Kathawalla said the court is not in a position to help as they were not party to the matter.
vikas [protected]
Investment co seeks stay on cases of bounced cheques
C Unnikrishnan | TNN
Mumbai: City Limouzines (India) Ltd, which is being investigated by the police for cheating and the Enforcement Directorate for foreign exchange violations, urged the Bombay high court on Wednesday to stay cases of cheque bouncing registered against it.
The company’s advocate V K Maurya refused to disclose to TOI the details of its application before the court. Justice S J Kathawalla has kept the matter for hearing on September 16. The high court is also hearing two other applications by the firm’s sister concerns.
The company, which promised 48% returns, has run into trouble after the cheques it issued to its investors started bouncing. In some of the instances, the company has instructed the investors across the country not to deposit the cheques till further notice.
The economic offences wing of the city police is investigating a case of cheating on the complaint of one of the investors after the company reneged on one of its promises.
A group of investors turned up at the high court on Wednesday seeking details of the application filed by the company. One of the investors got into the witness box and apprised the judge of their worries. Justice Kathawalla said the court is not in a position to help as they were not party to the matter.
vikas [protected]
Hi,
I am also investor in this company, why high level persons of this company are not comming out in open to remove the panic from all the investor's.
No clear cut message will lead to more chaos. Are they listining...?
I am also investor in this company, why high level persons of this company are not comming out in open to remove the panic from all the investor's.
No clear cut message will lead to more chaos. Are they listining...?
Dear all,
I have invested cobo plan on 27th July 2009 till now i have not recieved any cheques but i have seen the company dier situation every body feeling insecure wht is the situation delhi office is also closed
I think its very tention pls how any our Principal amount should be refund by the company for the God sake ...?
if any body have any information about it pls let me know?
mobile:- [protected]
I have invested cobo plan on 27th July 2009 till now i have not recieved any cheques but i have seen the company dier situation every body feeling insecure wht is the situation delhi office is also closed
I think its very tention pls how any our Principal amount should be refund by the company for the God sake ...?
if any body have any information about it pls let me know?
mobile:- [protected]
i am too totally confused about what to do after hearing the complaints on city limunozens... they are not at all replying for our messages .. atleast if they say us what's happening that would surely help us come out of tension.mob num :[protected]
THANK YOU
THANK YOU
Dear all i am coolect a information from times of india addition kindly read this...
MUMBAI: The Supreme Court on Tuesday set aside a Bombay HC order quashing the FIR registered against a private firm, City Limouzines, which had
failed to fulfil one of its promises made to investors while accepting money from them and assuring huge returns.
A division bench of Justices S B Sinha and Deepak Verma restored the FIR and allowed the economic offences wing (EOW) of the city police to continue with investigations against the company. The EOW case was that the firm had cheated investors and committed criminal breach of trust.
In September 2007, the EOW registered a case of cheating against Sayed Masood, promoter of the company, on a complaint by Jalandhar Pansare alleging that the firm had failed to keep its promise.
In 2002, City Limouzines advertised a scheme offering returns of 48% on investments. For instance, on an investment of Rs 97, 000, it offered investors Rs 4, 000 every month for five years. The amount collected by the company was to be used to buy Maruti Omnis, which were to be registered in the names of the investors.
The investors were to be paid the profit from the income generated by giving the vehicles on hire. At the end of the five-year period, the vehicles were to be returned to the investors. Around 22, 000 people invested in the scheme, said the EOW. The company also entered into an agreement with the investors.
Pansare lodged a complaint after he was not given a vehicle as promised. City Limouzines, however, did not default on the monthly payments.
Additional commissioner of EOW Sanjay Saxena said, "Our main argument was that the firm's business matrix was not sustainable. Our investigations will continue now.'' He expressed concern that some people still fell prey to such schemes.
On March 3 last year, a high court division bench of Bilal Nazki and S A Bobde quashed the FIR and observed that "the company had no intention to defraud at the time of inception of the agreement. It is a well-accepted principle that while interpreting a clause of the agreement, the whole of the agreement has to be taken into consideration''.
The bench further observed that applying the principles laid down by various judgments of the apex courts, "we do not think that in the facts and circumstances of the case, an offence of cheating is made out''.
The company's contention was that even if a dispute existed regarding the interpretation of a particular clause in the agreement, it would be a civil dispute and not a matter meant for criminal investigation. City Limouzines got around 22, 000 investors but bought only 4, 000-5, 000 cars.
unnikrishnan.[protected]@timesgroup.com
MUMBAI: The Supreme Court on Tuesday set aside a Bombay HC order quashing the FIR registered against a private firm, City Limouzines, which had
failed to fulfil one of its promises made to investors while accepting money from them and assuring huge returns.
A division bench of Justices S B Sinha and Deepak Verma restored the FIR and allowed the economic offences wing (EOW) of the city police to continue with investigations against the company. The EOW case was that the firm had cheated investors and committed criminal breach of trust.
In September 2007, the EOW registered a case of cheating against Sayed Masood, promoter of the company, on a complaint by Jalandhar Pansare alleging that the firm had failed to keep its promise.
In 2002, City Limouzines advertised a scheme offering returns of 48% on investments. For instance, on an investment of Rs 97, 000, it offered investors Rs 4, 000 every month for five years. The amount collected by the company was to be used to buy Maruti Omnis, which were to be registered in the names of the investors.
The investors were to be paid the profit from the income generated by giving the vehicles on hire. At the end of the five-year period, the vehicles were to be returned to the investors. Around 22, 000 people invested in the scheme, said the EOW. The company also entered into an agreement with the investors.
Pansare lodged a complaint after he was not given a vehicle as promised. City Limouzines, however, did not default on the monthly payments.
Additional commissioner of EOW Sanjay Saxena said, "Our main argument was that the firm's business matrix was not sustainable. Our investigations will continue now.'' He expressed concern that some people still fell prey to such schemes.
On March 3 last year, a high court division bench of Bilal Nazki and S A Bobde quashed the FIR and observed that "the company had no intention to defraud at the time of inception of the agreement. It is a well-accepted principle that while interpreting a clause of the agreement, the whole of the agreement has to be taken into consideration''.
The bench further observed that applying the principles laid down by various judgments of the apex courts, "we do not think that in the facts and circumstances of the case, an offence of cheating is made out''.
The company's contention was that even if a dispute existed regarding the interpretation of a particular clause in the agreement, it would be a civil dispute and not a matter meant for criminal investigation. City Limouzines got around 22, 000 investors but bought only 4, 000-5, 000 cars.
unnikrishnan.[protected]@timesgroup.com
I am the oldest member of Coty Limouzines plan. Please dnt get panic every thing will be fine in few days. You may get some less retursns in future but company will survive for long. I sure company will come up with new ideas
Sub:- Re-Fund against Tentative ownership of 20 sq.ft.
Ref:- Your Receipt No.20105 (City Realcom limited) and City co-op.credit society ltd, Mumbai
Of Rs.107515/- and Rs. 31000/- respectively on Dated 22/07/2009
Dear Sir,
With reference to above subject I have given Cheque No. 434459 HDFC Bank Nerul Branch of Rs. 75000/- and Cheque No. 062351 Axis bank Nerul Branch of Rs.63515/-In favour of City Realcom Mumbai. Above cheque given investment in your company. As per discussion While giving the the payment said within 20days you come to our office for agreement.After 20 days Call to your representative she told me our audit going that is you will come after10 days i.e. on Date 22.08.2009 . I spoken that date she told me till up to date audit going on.
Now I Several times call but not given proper answer from your side.
Ref:- Your Receipt No.20105 (City Realcom limited) and City co-op.credit society ltd, Mumbai
Of Rs.107515/- and Rs. 31000/- respectively on Dated 22/07/2009
Dear Sir,
With reference to above subject I have given Cheque No. 434459 HDFC Bank Nerul Branch of Rs. 75000/- and Cheque No. 062351 Axis bank Nerul Branch of Rs.63515/-In favour of City Realcom Mumbai. Above cheque given investment in your company. As per discussion While giving the the payment said within 20days you come to our office for agreement.After 20 days Call to your representative she told me our audit going that is you will come after10 days i.e. on Date 22.08.2009 . I spoken that date she told me till up to date audit going on.
Now I Several times call but not given proper answer from your side.
Dear Investors,
I have invested in 5 schemes of City Limouzine and till July all cheques get cleared.After that they call me not to deposite cheque till 5th Sept and again till 15th Sep.I dont know what will happen.If any information comes from the Mumbai Investors, pls let Delhi Investors should know or e-mail me or call me at [protected]. I would once again request all investors not to get panic, just pray to god for the speedy recovery of the company. The money we invested was hard earned money no body has right to grab it so simply.
P Chikkara
[protected]
I have invested in 5 schemes of City Limouzine and till July all cheques get cleared.After that they call me not to deposite cheque till 5th Sept and again till 15th Sep.I dont know what will happen.If any information comes from the Mumbai Investors, pls let Delhi Investors should know or e-mail me or call me at [protected]. I would once again request all investors not to get panic, just pray to god for the speedy recovery of the company. The money we invested was hard earned money no body has right to grab it so simply.
P Chikkara
[protected]
I am an investor with CITYLIMOUZINES with the borrowd money from various sources. The sudden stoppage of payment since August 15 2009 has shocked me & put me in a great shocking status. I have lost my sleep on night thinking that what will happen if the problem persists further. I shall be unable to repay the EMIs of borrower. Then what will happen thereafter. This month EMI has been paid by surrending my LIC policies. But how can I pay in Oct 09. What will happen to my dependents if I take any adverse step in life ??? Will any one advise me on the issue.Pls contact if any good news from Mumbai on [protected].
PLEASE LET US KNOW WHAT IS HAPPENING IN THE COMPANY
Please let me know the devolpment of the company
Hi,
Can please somebody know the status of the company and has anybody talked to any company offcials regarding the payments, if there is any update in any office, please update here.
Can please somebody know the status of the company and has anybody talked to any company offcials regarding the payments, if there is any update in any office, please update here.
The high officail from regional and head office should take suitable initiatives to to remove the fear and clouds of anxiety from the mind of customers. No one in the office is even takng notice of complaints and grievances. Postponting date from 5 Sep'09 to 9 Sep, then to 15 Sep, and now 7Oct'09 is causing a lot of worry about the very surval and functioning style of the company. The solution should be concrete, clear, and early for winning the lost faith and hearts of customers. The earlier the solution and resolution for the issues, the better for all.
If any official of the company takes a look on this message, please call me on the given number to brief about the facts of crisis.
Hoping against the hope.
Kantesh Kumar Singh
Chennai
[protected]
If any official of the company takes a look on this message, please call me on the given number to brief about the facts of crisis.
Hoping against the hope.
Kantesh Kumar Singh
Chennai
[protected]
KINDLY CONFIRM BY POSTING REPLIES OR CALL[protected]