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I think we all need to be positive and try to be with the company so that they are able to come out of this problem. City officials should have come forward and posted update on their web site that all cheq will be cleared on presentation after 5/9/9, They need to do this atleast.
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I AM WITH THIS COMPANY FOR LAST 5-6 YRS, THEY NEVER HAD ANY INTENTION OF CHEATING BUT PERSONS LIKE MR PANSARE HAS CREATED MESS FOR EVERYONE. WHETHER YOU GET CAR OR MONEY IN LIEU IT IS ALL SAME AS LONG AS YOU ARE GETTING SOMETHING.
I FEEL PITTY ON PEOPLE AND EOW/POLICE/GOVT THAT THEY ARE UNABLE TO DO ANYTHING TO HELP INVESTORS OF FRAUD COMPANY LIKE UNIQUE, SIGMA WHO RAN AWAY WITH THE MONEY.
AS WITH ANY BOLLYWOOD MOVIE STYLE, THE TRUE MAN ALWAYS LANGUISH AND ILL TREATED BUT NOT REALLY CONMEN. THIS COMPANY WITH THE GRACE OF GOD HAS GIVEN INVESTOR TO BUY HOUSE, FLATS, CARS ETC, AND GOD WILL CERTAINLY BLESS THEM IN THIER MOTIVE, LET US ALL STAND WITH COMPANY IN THEIR BAD TIMES, AND SEEK BLESSINGS FROM GOD THAT THE COMPANY IS FREE FROM CLUCTHES OF THIS CORRUPT GOVT SYSTEM WHO HAS FAILED TO NAIL BOFORS KICKBACKS AND 70000 LAKH CRORES OF MONEY STASHED AWAY IN SWISS BANKS BY THIS OFFICIALS.THE CBI ALSO ASSISTED IN MR QUATROCCHI RUN AWAY WITH GOVT MONEY.SO WHY TO BLAME COMPANY WHICH IS AT LEAST COMMITTED, ANOTHER EXAMPLE WAS DHIRUBHAI AMBANI, WHO WHEN GAVE MONEY TO CORRUPT POLITICIANS AND GOVT OFFICIALS EVERYTHING BECAME ALL RIGHT.
CAPT JSC
I FEEL PITTY ON PEOPLE AND EOW/POLICE/GOVT THAT THEY ARE UNABLE TO DO ANYTHING TO HELP INVESTORS OF FRAUD COMPANY LIKE UNIQUE, SIGMA WHO RAN AWAY WITH THE MONEY.
AS WITH ANY BOLLYWOOD MOVIE STYLE, THE TRUE MAN ALWAYS LANGUISH AND ILL TREATED BUT NOT REALLY CONMEN. THIS COMPANY WITH THE GRACE OF GOD HAS GIVEN INVESTOR TO BUY HOUSE, FLATS, CARS ETC, AND GOD WILL CERTAINLY BLESS THEM IN THIER MOTIVE, LET US ALL STAND WITH COMPANY IN THEIR BAD TIMES, AND SEEK BLESSINGS FROM GOD THAT THE COMPANY IS FREE FROM CLUCTHES OF THIS CORRUPT GOVT SYSTEM WHO HAS FAILED TO NAIL BOFORS KICKBACKS AND 70000 LAKH CRORES OF MONEY STASHED AWAY IN SWISS BANKS BY THIS OFFICIALS.THE CBI ALSO ASSISTED IN MR QUATROCCHI RUN AWAY WITH GOVT MONEY.SO WHY TO BLAME COMPANY WHICH IS AT LEAST COMMITTED, ANOTHER EXAMPLE WAS DHIRUBHAI AMBANI, WHO WHEN GAVE MONEY TO CORRUPT POLITICIANS AND GOVT OFFICIALS EVERYTHING BECAME ALL RIGHT.
CAPT JSC
I agree with the above. To me it is not the 'intention' of the company that is not giving us our returns. It is someone stupid like Pansare who made his full money, and instead of taking the money and buying a car (if he was so much in need of one) or negotiating with the company to come to a win-win situation, he has put everyone (company and the investors) in a soup. Who knows, he must be having a wicked smile on his face if he is reading this just now!
I know two of my close relatives who faced the same problem. First they were told to present the same bounced cheque again on 5th Sept 09. The latest development is that now they have been asked to call on 5th Sept morning and only then present the cheque in the bank. Though the company is giving false excuses of "Audit being conducted at their offices because of which the cheques were not cleared" they perhaps forgot that all Indian consumers are not stupid enough to accept their lame excuse on its face value. We should be in touch thru this forum and inform all if the cheque was indeed honoured when presented again.
Hi All,
I happened to have a Cheque Stop Payment made by CITY REALCOM. comments on the Cheque bounce is that "STOP PAYMENT BY DRAWER". I called up today and got a confirmation that there accounts are frozen due to the Income Tax raid. They are telling us to present the cheque on 8th Sep 09. Hope everything will be fine and all have to pray the god that our money has to come back as planned.
Regards
Prakash.
I happened to have a Cheque Stop Payment made by CITY REALCOM. comments on the Cheque bounce is that "STOP PAYMENT BY DRAWER". I called up today and got a confirmation that there accounts are frozen due to the Income Tax raid. They are telling us to present the cheque on 8th Sep 09. Hope everything will be fine and all have to pray the god that our money has to come back as planned.
Regards
Prakash.
MUMBAI: City Limouzine, which offered 48% returns to investors on their deposits, is in trouble after the interest cheques issued bounced due to
lack of adequate funds.
The city-based company, already being investigated by the economic offences wing (EOW) on allegations of cheating and the Enforcement Directorate for alleged foreign exchange violations, has written to the investors not to deposit the cheques till September 5.
The letter says that a search was conducted by a central government agency on Citi Group (the group company) and its transactions are under scrutiny. A company official, who refused to be identified, told TOI that they have been asked not to carry out any transaction. He, however, refused to elaborate. But the investigating agencies said their probe is on but no specific instructions to stop the company from carrying out its business have been issued.
TOI has been reporting on the investigations and has received several emails from investors saying they were worried after the company's letter.
Following a recent Supreme Court order, the EOW has restarted its investigations on a complaint of cheating lodged by one of the investors. The Bombay high court had earlier quashed the FIR. On an investment of Rs 97, 000, City Limouzine - promoted by Sayed Masood - promised a return of Rs 4, 000 every month for five years. The amount collected by the company was to be used to purchase Maruti Omni cars, which were to be registered in the name of investors. Around 22, 000 persons invested in the scheme in Mumbai, according to EOW.
One of the investors, Jalandhar Pansare, complained to the EOW, saying he was not handed over the vehicle as promised. According to EOW, the company has duped several hundred investors by not handing over the vehicle at the end of the agreed period. According to the police, this scheme is not financially viable
lack of adequate funds.
The city-based company, already being investigated by the economic offences wing (EOW) on allegations of cheating and the Enforcement Directorate for alleged foreign exchange violations, has written to the investors not to deposit the cheques till September 5.
The letter says that a search was conducted by a central government agency on Citi Group (the group company) and its transactions are under scrutiny. A company official, who refused to be identified, told TOI that they have been asked not to carry out any transaction. He, however, refused to elaborate. But the investigating agencies said their probe is on but no specific instructions to stop the company from carrying out its business have been issued.
TOI has been reporting on the investigations and has received several emails from investors saying they were worried after the company's letter.
Following a recent Supreme Court order, the EOW has restarted its investigations on a complaint of cheating lodged by one of the investors. The Bombay high court had earlier quashed the FIR. On an investment of Rs 97, 000, City Limouzine - promoted by Sayed Masood - promised a return of Rs 4, 000 every month for five years. The amount collected by the company was to be used to purchase Maruti Omni cars, which were to be registered in the name of investors. Around 22, 000 persons invested in the scheme in Mumbai, according to EOW.
One of the investors, Jalandhar Pansare, complained to the EOW, saying he was not handed over the vehicle as promised. According to EOW, the company has duped several hundred investors by not handing over the vehicle at the end of the agreed period. According to the police, this scheme is not financially viable
Hi all,
I am also an invester like you with City.. just spoken to their delhi office and I have been adviced to deposit the cheque on 7th.. I crosschecked with them that if I still have to check woth them on 07th before depositing but they were confident in saying that please deposit the same and you dont have to confirm from us !!
Reason cited was that it was due to income tax department enquiry and the IT people were in their office and hence frozed the accounts during the enquiry period.
Just to keep you all posted. Would write again if I get an update.
Cheers
Mr. Singh
I am also an invester like you with City.. just spoken to their delhi office and I have been adviced to deposit the cheque on 7th.. I crosschecked with them that if I still have to check woth them on 07th before depositing but they were confident in saying that please deposit the same and you dont have to confirm from us !!
Reason cited was that it was due to income tax department enquiry and the IT people were in their office and hence frozed the accounts during the enquiry period.
Just to keep you all posted. Would write again if I get an update.
Cheers
Mr. Singh
Hi, Yesterday one of my friend (an investor) visited City Realcom office at Mittal Tower, Mumbai. They gave a notice that says 'If your cheque is returned for insufficient fund then use same cheque, and cheque is return for stopped payment you need to submit cheque to City Realcom office and take replacement cheque after 5 th Sept.'. I have a scanned copy of the notice but cant post it in here. But feel free to contact me for a copy of the same.
I think we should have patience. If we all start complaining it will put the company in more scrutiny and complicate problems fro them and for us. Our Payments will only be delayed. They are probably telling the truth, so let us give them a chance to prove themselves.
And, as someone pointed out in this forum - pray that we get all our money back!!!
I think we should have patience. If we all start complaining it will put the company in more scrutiny and complicate problems fro them and for us. Our Payments will only be delayed. They are probably telling the truth, so let us give them a chance to prove themselves.
And, as someone pointed out in this forum - pray that we get all our money back!!!
kya yeh company run toh nhi kr jayegi
Hi,
(According to EOW, the company has duped several hundred investors by not handing over the vehicle at the end of the agreed period. According to the police, this scheme is not financially viable.)
This paragraph has intrigued me a lot. From the replies that I have seen majority of the investors in this company's schemes are more than satisfied.
Is there way to find out who are these several hundred investors that the EOW is talking about?
I have been investing in this company for the past 5 years and profited a lot and I would surely like to know if the above paragraph is true or just hot air expelled by EOW to justify their actions.
(According to EOW, the company has duped several hundred investors by not handing over the vehicle at the end of the agreed period. According to the police, this scheme is not financially viable.)
This paragraph has intrigued me a lot. From the replies that I have seen majority of the investors in this company's schemes are more than satisfied.
Is there way to find out who are these several hundred investors that the EOW is talking about?
I have been investing in this company for the past 5 years and profited a lot and I would surely like to know if the above paragraph is true or just hot air expelled by EOW to justify their actions.
We should not panic; have positive mind frame; wait till at least 10th Sept for any further action; and have faith on Him!
Hi,
I am glad that this matter has gone to Supreme Court. When the Supreme Court clears this company of any wrongdoing Mr. Jallandar Pansare (is this a genuine name) can go [censored] himself for all the tension he created for the company and other investors.
I am glad that this matter has gone to Supreme Court. When the Supreme Court clears this company of any wrongdoing Mr. Jallandar Pansare (is this a genuine name) can go [censored] himself for all the tension he created for the company and other investors.
He is not Jallandar, He is a big Dalindar for all the investors
mr jallandar pansare is a greedy man i don't know a single persone besides this who say he has been duped.
city will come out of this soon and we will start gettine our pmts too.god bless all investors and city.
as far as mr pansare is concerned balls to him
city will come out of this soon and we will start gettine our pmts too.god bless all investors and city.
as far as mr pansare is concerned balls to him
Yes the same had happend to me...their last cheque got bounce and no one is picking up the phones in Delhi office.
Hi,
earlier the date of redeposit of cheque was 5 sep but now it seems to be around 10 sep this again leads to the suspicioun any body updated on this?
earlier the date of redeposit of cheque was 5 sep but now it seems to be around 10 sep this again leads to the suspicioun any body updated on this?
Hi Amar,
The date told by City is of 07th September only.
Hi Devinder,
Delhi branch is picking the phones. I had spoken to them yesterday only.
Lets c the outcome !!
The date told by City is of 07th September only.
Hi Devinder,
Delhi branch is picking the phones. I had spoken to them yesterday only.
Lets c the outcome !!
Just now i called the Chennai Branch and i was told to deposit Sep 8th onwards. Chennai office is running without any mess and they are clarifying all the phone calls and i belive that this bizz will run succesful without any problem. Also i request all the investor wait don't get frustrate and make any complaint. This will lead a great problem. For your information last year Bombay hight court has given a clear statement that City is a Genuine!!! Once again we will get the same statement by Supremecourt!!
SOME ADVISE I FOUND WRITTEN BY SOMEONE ON OTHER WEBSITE WHICH I THOUGHT WITH SHARE WITH ALL.
If you go for any complaints you wont' get anything if the police or CBI enters in it. They will sieze all the happenings and will handover to the court. Then you should wait atlest a 5-10 yrs to clear the case. If you see the questnet case, wht happened, till now one got their investment.
In chennai office they have clearly stated all the issue will be cleared by end of this month and can deposit cheque after Sep 5. Therefore no one need to be panic and create unncessary rumours.
According to my knowledge, my friends are getting the regular income for 7 years, and this the first time the Cheque has been bounced and the customer care informing to all the customers not to deposit any cheques until Sep 5. Why can't you people wait for another couple of weeks?
This will create unncessary panic around the investors and don't worry we will get good result and everyone van earn good income from this bizz
If you go for any complaints you wont' get anything if the police or CBI enters in it. They will sieze all the happenings and will handover to the court. Then you should wait atlest a 5-10 yrs to clear the case. If you see the questnet case, wht happened, till now one got their investment.
In chennai office they have clearly stated all the issue will be cleared by end of this month and can deposit cheque after Sep 5. Therefore no one need to be panic and create unncessary rumours.
According to my knowledge, my friends are getting the regular income for 7 years, and this the first time the Cheque has been bounced and the customer care informing to all the customers not to deposit any cheques until Sep 5. Why can't you people wait for another couple of weeks?
This will create unncessary panic around the investors and don't worry we will get good result and everyone van earn good income from this bizz
to day[protected].40am am call to [protected] mumbai office they toll my before deposit cheq tommaro must call city office. this telphone also mostly engage