Today i visited City Office at Nehru Place to confirm whether should i deposit the cheque on Monday 7th Sept or not. I came to know that the final judgement of the court will be at 4 pm today i.e. on Saturday 4th Sept. So please call on Monday. All the staff run away from the office. So the Director came from Mumbai to answer our queries. They are continuosly satisfying everyone’s answer from morning to evening. I also came to know that some senior people (one Mr. Ameen) at Delhi Branch did a scam, just becoz of that it all happening and they have also lodge FIR against them. They said and showed a copy of DD given to Govt. amounting to Rs. 2225 crore to show that they have so much money and they intended to give it to public so clear the judgement at earliest so that we can give relief to our investors. They also said that minimum v can give you the principal amount. And if you give us some time then the City will go as earlier. Even before 2 days they had issued cheques to their customers. So if they have intention to run away with our money they will not come from Mumbai and sit and answer our queries. Company is genuine, believe in it and trust god. Give the company some time in bad times. I will again visit on Monday at Nehru Place.
Took reference from one of my friend who already completed his 01st year. He advised me that the company is genuine and proud sponsor of Indian Women's hockey team.
Accordingly I invested, and my two cheques already got cleared. However I have been advised by the staff not to deposit the cheque till 05th sep 2009. I recieved the call on 26th Aug. As my cheque clearing date was 22nd I deposited and my bank advised that due to insufficient fund my cheque got bounce and will chargebel 250 Rs. Who will be responsible for this debit???
Have faith in this company as per their profile. Hope I will be benefitted with my investment plans.
Anyway am crossing my fingers till monday as the investment money was all hard worked money.
Sir, My cheque date is 24.08.09, but company adivse me to submitt cheque after 5th Sept. but now company again requested to submited cheque afte 15th sept '09. Sir ; i can not understand about the company is cheating ;me or otherwise.
My brother also invested like many others in Chennai and running into same problem. He has several loan commitments which are at stake now. Chennai office seems to be shutdown and queries are directed to Mumbai office. Anybody knows any progress, please reply here.
Even I have invested in this company as I had an experience of this company of min 8 years. Initially my frnd invested in the year 1999 he got back the whole amount as committed by the company in five years, my father also invested in 2004 and he got all returns in the committed time. So, looking to the past of this company we can wait till what time they tell us. Today I had a word with one of their officials who have conveyed that we should wait till 15th September 09 and then deposit our cheques as normal.
So lets have patience till all legalities are done. We knew the risks involved and we should be ready for whatever happens. Lets hope for the best...
I along with my brother invested a huge amount in the month of Feb'2009, after a month we submitted the relevent documents and therein received postdated cheques. All our cheques had been honoured till july. When we deposited our by cheques for the month of August, we got the blow of our lifetime, ou cheque got " BOUNCED". When we called up at the Nariman point office, no one answere the call, hence we rushed to the office, at their office they told us that I don't have 2 warry but to depozite my cheques after 5th September, as there is govt. audite is going on in company.
hence i waited till 7th od sep'09.
Today on the 7th of Sep'09, when i called up city office one staff named Shubadha they said that the enquiry is still on and i can deposit my cheque on the 15th of sep'09
i dont know what to do know... any one plz guide us...
This is Mohit Agarwal from Agra ( U.P.). I & my friends had invested more than 25 lac in the csheme & from the first month we are receivinng all payments on commitment dates. but as all of you know from August cheques are bounced. I think payment problem is not so much problem on the basis of previous record of co. but branch officess of city limozioun situated at different places are excusing with different words.
like Jaipur office say, principal amount will be refund with interest. Mumbai office say wait, Delhi office does not attand phones ets that all things will belongs to woorryness of investors.
As many other we in our family also invested, instead of getting SMS confirmation for the money deposited in my account this time(august) got the SMS confirmation for the dishour of cheque.
Jus putting my fingers crossed and praying to God that every thing go's smooth as commited by the company other wise :(
Even i have invested some schemes in City, i am waiting for the positive out put from City Real.Com. Let's hope for the best and we will pray to GOD the issue to be resolved at the earliest and we should not face these kind of issue in the next 5 yrs.
My father has appox invested abv 3 lakhs i actually dont no the figure...bt since our cheque was bounced and we were told to wait till 5th of september...till 5 th of september the ppl working in city grp told us to wait bt no result came...their office telephone number was also coming as in valid, , , , , , , , , , suddenly after few days a message comes on to cell of my dad, , , , , , , A message containing new numbers of city realcom and in another message the information was that the cheques u have u can deposit them at 15 th of september...
Every costumer(investor) has been given different reasons ...for dishonour of cheques
THe reasons given to my dad and few frnds of mine are
(2)If you are an investor u must be knowing that city ppl gives cheque for 6 months and after 6 months a new set of cheques...so for such ppl whom cheques were to be given after 6 months ...a foolish reason of lack of stationery material was given.
Then suddenly on 10th & 11th sept something abt company comes in news papers like The times of india, lokmat etc
some gave reasons regarding issues of company with foreign exchange...
After this news a lot of panic was created in mumbai and even in minds of me and my father, so we decided to visit Mittal towers office
...when we went we were not 1st to go with our complaints, there was a huge crowd there with same problem of cheque being bounced ...The officials there told to some people not to panic and they will be gathering a meeting on oct 7 2009 on some stadium for the investor
But this is not all we investors want...
some questions like
(1)What about our money?
(2)will our payment would be started as b4?
we are more concerd abt our money
and no1 knows specific reasons abt this situation
so plz if any 1 having any info or any updat plz reply here
if i get any updates i ll keep u all aware...good luck
I had invested rs.2.52 lacs in this company, my a/c was debited on 27th of july and I had no news after that, as whenever i had enquired the reason given to me by delhi office was that an Audit was going on and the cheques would be issued till 5th september.
however when on 5th I again called up, I came to know about the entire incident.
After rushing for Delhi I found the company officials are not there and some so called officials from bombay are there to answer the queries.
I am not at all satisfied with the answer provided to me by those officials.
Lets wait till 15th as this is the date provided by the officials from Bombay.
I pray to god that our hard earned money is not wasted like this and things come back to normalcy again
Yaa ur write 1 st they told us to wait till 5th of septtember n then till 15th of september...
bt nw they told one of my frnd who has also invested to wait till 7th of oct...
i dont understand whats the reason for making investors wait for such a long time..
i m really worried that is our money safe?????I just pray to god that all things go well and we ppl get our intrest as we use to get acc to their promise till 5 yrs...
plz keep updating this forum and keep ppl aware abt tehe situation...if i come to know anything even i will post the latest news...
Had a word with Mr. Ajit (pune office) a while back. He says there'll be a creditors meeting on 7th October '09 in Mumbai. All investors are required to attend the same. For those who cant attend, a proxy attendance form needs to be filled and sent along with representative to Mumbai. The deal is - Court will take the decision based on what the investor wants - refund or restrcuture of schemes. I guess there 'll be some kind of voting for the same. The proxy form is expected to come in newspapers maharastra times & the city website by next monday. thats all i ve got for now.
I am also one of the invistor of City Limozine. I have invested way back in 2003 i.e; about 6 years back. I have invested about 1 laks rupees & I got regular income of Rs. 4000/- p.m. on regular basis for 5 years. On expirey of contract I have also recd. Rs. 70000/- as promised by them.
With increased faith, again I have invested in City Real Com (2 Nos.) & Combo (1) No. Even few of my relatives, friends & brothers have invested in the same.
But none of us really bother to know, what is the core business of City. As they say they are into Car hiring & property development. But I doubt, as we have rarely seen the City Limozine Car on hire.