[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 | |
Comments
I am a victim of asimilar scam commited by TranscityTravels Pvt. Ltd.Same thing is being repeated in the case of City Limousine also.High level Govt. personnels also seem to be co-conspirators.I can bet nothing will happen in this case also & investors will continue to suffer as usual.
I have been an investor in the company since last 3 yrs. the time when i had invested my money, there were hardly any ppl in there office to invest money in the company but recently, it was like a long que of ppl in delhi office with there files in hand. looking at this, i was superstitious that something doesn't seem right. they are getting investments at a pace that they had never dreamed of. even if had no plans of doing any fraud or something, this kind of money may have made them think about doing that. lord knows what will happen. hoping for some relief :(
let us share the information please
Don't spread panic and give them some time to restructure their company, as I believe they have to make new cheques with reduced amount. Be patient, everything will turn out fine and please don't panic.
i recently invested in this company i have recieve only three cheques till date and im going to crazy, this was my total saving i invest here for my future and i think i lost my money pls give me call regarding this case on [protected]
I had invested in the month of April.I had got the returns for three months upto July..When i contacted frnds in Delhi they told me that the office is closed...the date the coy had given was today.But I came 2 knw frm my Bangalore friend that they had not cleared the matter till nw.He told me that the coy called investors on 7th Oct. I dont knw the fact about their case in mumbai high court under foreign exchange act.I request mumbai investors to track the case from mumbai officials.I didnt feel that the coy is closed. it is something tricky to reduce the returns...
Hi, this is a piece of info from Chennai reg the case details.
When I spoke to one of the officials in chennai, he told that The company itself has approached the court to give a suggestion as how to run the company further since the accounts have been freezed due to the FEMA issue. So the court has given orders to conduct a meeting with the investors on 7th and 8th of october and submit the minutes of meeting and based on that if the Court is satisfied it will close the case it seems.
For the ppl who don't know abt the FEMA issue, it is when there was a raid in the company, the CBCID have given a checklist of 26 rules which needs to be followed while getting the investments from the public, but it has not been properly followed. So the court has asked the company to give a report about the source of income of the investor (ie. how did the investor get the cash that he has invested) but the company refused to give. that is why this case is not yet closed.
This is the info i got, hope things turn up well soon.
Do keep us posted on the further details
Thanks!
When I spoke to one of the officials in chennai, he told that The company itself has approached the court to give a suggestion as how to run the company further since the accounts have been freezed due to the FEMA issue. So the court has given orders to conduct a meeting with the investors on 7th and 8th of october and submit the minutes of meeting and based on that if the Court is satisfied it will close the case it seems.
For the ppl who don't know abt the FEMA issue, it is when there was a raid in the company, the CBCID have given a checklist of 26 rules which needs to be followed while getting the investments from the public, but it has not been properly followed. So the court has asked the company to give a report about the source of income of the investor (ie. how did the investor get the cash that he has invested) but the company refused to give. that is why this case is not yet closed.
This is the info i got, hope things turn up well soon.
Do keep us posted on the further details
Thanks!
my file no.1325 amt. invested 250000/- I have recieved cheques for rs.6000/ p.m. dt.13th every month. now they are giving massage not to drop cheques till 15/sep/2009. I think that this is a fraud . I want to register a complaint against them.
Now the hyderabad office of city limouzine is also closed since two days, what is the further information about the co.let me know.
hi all investors,
Just think logically, if the company wants to run away with the money, y should the company be indulged in Income Tax / CBCID CASES or FEMA case?
THEY ARE ACTUALLY HELD UP BY GOVT FILES CASES REGARDING CASH INVESTMENTS MADE BY MORE THAN 22000 INVESTORS AND THE HUGE RETURNS GIVEN BY THEM WHICH THE GOVT CANT EVEN THINK TO DO SO FOR THE INDIANS.
All investors should think positively instead of going on negative rumours... I have just invested three months ago, but still i know the company for last 6 years. Not a single cheque bounce nor a single cheque delayed to reach the investor through post. Just think ... All because of one stupid individual named JALANDHAR PASARE from MUMBAI who filed a case against CITI LIMOUZINES for getting 70000/- hot cash instead of a OMNI car after his harvest of ripened fruit of 05 years solid income of Rs. 4000/- per month, that stupid got his money all 05 years and after that he has created problem for all other investors.
IF THE COMPANY WANTS TO CHEAT THE INVESTORS:-
1.IT WOULD HAVE RAN AWAY WITHOUT TRACE
2.IT WOULD NOT REPLY ABOUT THE CHEQUE DEPOSITING DATES
3.IT WONT CONDUCT MEETING WITH INVESTORS ON 07 TH OCT
Just think logically, if the company wants to run away with the money, y should the company be indulged in Income Tax / CBCID CASES or FEMA case?
THEY ARE ACTUALLY HELD UP BY GOVT FILES CASES REGARDING CASH INVESTMENTS MADE BY MORE THAN 22000 INVESTORS AND THE HUGE RETURNS GIVEN BY THEM WHICH THE GOVT CANT EVEN THINK TO DO SO FOR THE INDIANS.
All investors should think positively instead of going on negative rumours... I have just invested three months ago, but still i know the company for last 6 years. Not a single cheque bounce nor a single cheque delayed to reach the investor through post. Just think ... All because of one stupid individual named JALANDHAR PASARE from MUMBAI who filed a case against CITI LIMOUZINES for getting 70000/- hot cash instead of a OMNI car after his harvest of ripened fruit of 05 years solid income of Rs. 4000/- per month, that stupid got his money all 05 years and after that he has created problem for all other investors.
IF THE COMPANY WANTS TO CHEAT THE INVESTORS:-
1.IT WOULD HAVE RAN AWAY WITHOUT TRACE
2.IT WOULD NOT REPLY ABOUT THE CHEQUE DEPOSITING DATES
3.IT WONT CONDUCT MEETING WITH INVESTORS ON 07 TH OCT
i too agree...hope things will turn out good. if we all create a havoc, things might get bitter. we should wait for the company`s answer to us on 7th. just pray people.hope things will start moving smoothly as they did till july...----ganpati bappa morya.
thanks for the information vinesh and tks.
I HAVE INVEST LAST 3 MONTH BACK& ON 7th SEP CHEQUE WILL BOUNCE.WHEN IREACHED
DELHI OFF NO BODY WAS THEIR &OFF WAS LOK I REQUST 2 U PLS TELL US RIGHT INFOMATION AS SOON AS POSSIBLE.IHOPE THAT COUPLE OF DAYS THINGS R GOOOING RIGHT.
DELHI OFF NO BODY WAS THEIR &OFF WAS LOK I REQUST 2 U PLS TELL US RIGHT INFOMATION AS SOON AS POSSIBLE.IHOPE THAT COUPLE OF DAYS THINGS R GOOOING RIGHT.
Hi Everybody,
Iam also sailing in same boat. Iam also invester in City Limozine co. and now my cheaque also bounced.My sister is also invested in that firm and same thing happened with them. I ring up in Bombay office the reply given by person is total negative towad customer, he told me that people beaten their staff in Delhi that is reason to close the office now case is in court hearing date is 7 Oct.
after that you will know co. will pay or not, and he cut the line. It clear shows that now they are in mood of to collect the money and run away, because if they are innocent why they are not conduct meeting with public? why they are not arranging any press confrece or media channel to keep their views infront of public? My contact no.is [protected], Email Id anil.[protected]@yahoo.co.in
Iam also sailing in same boat. Iam also invester in City Limozine co. and now my cheaque also bounced.My sister is also invested in that firm and same thing happened with them. I ring up in Bombay office the reply given by person is total negative towad customer, he told me that people beaten their staff in Delhi that is reason to close the office now case is in court hearing date is 7 Oct.
after that you will know co. will pay or not, and he cut the line. It clear shows that now they are in mood of to collect the money and run away, because if they are innocent why they are not conduct meeting with public? why they are not arranging any press confrece or media channel to keep their views infront of public? My contact no.is [protected], Email Id anil.[protected]@yahoo.co.in
Hi, this is Gokul. I am an investor from chennai. Yesterday I went to the Nungambakkan branch for an enquiry, the office was closed and I saw a notice on the door, saying that all investors have some meeting on 17th Sept'09 at 10:00 AM( I think this notice was posted by an Investor like us). Please come and we all will take a concise decision. My contact : [protected].
Dear All, yes day to day the news are upsetting. The worst part is non of the official are coming forward to explain the problem. The latest news what I heard is that their is a voting on october 7th. I dodnt know how far its true,
Hi all, one more piece of info, when I called up one of the officials in chennai reg the offices being closed, he told me that the officials from head office have asked to keep the office closed till Oct 7th meeting gets over since there were few violences reported in several branches.
Thus, I request uU all not to panic..
Thanks!
Thus, I request uU all not to panic..
Thanks!
hello investors, city limouzines has a case hearing today, but even though the case is favorable to them, the point is they cannot run there business no more because no one trust this company anymore, basically iam invested in this company too, when i met sayed massod in chennai office in july, and told about the grievence he was laughing wickedly, i was thinking why he was laughing at me like that and today i can feel why he laughed like that, he changed his hair colour and his attitude completely changed, he went for IPL season to south africa and spend lot of money out there (from authentic source from his collegues) no wonder he had a lady seceratary she looked very immoral women and from the few people who knows they saw him wondering in the five star hotels and drinking alcohal and he claim he as muslim which he is not . This women looks like she was holding his knob. IN chennai office he was having briyani with leisure, i hope its all our money, see sayed massod is a person like he knows what he was doing and he can get away with this very easily . its so easy for him to fool us because he has done it very professionally, this case and all other things or drama just for the eyes of investors, please do think logically . This company is no more in business all the people disappear from the respective places .
see actually for ur reference this is been published in HINDU november 5 2008 in karnataka edition but many of them where not aware of it . PLS READ THE BELOW
City Limouzines slams on the brakes
Staff Reporter
BANGALORE: The City Limouzines India Ltd., which claims to be an official sponsor of the Indian Hockey Federation, will not to collect deposits from the public till it gets licence from the Reserve Bank of India to conduct financial activities.
The firm had announced several attractive schemes on its website and invited deposits from the public. But following complaints from the public, City Police Commissioner Shankar M. Bidari wrote to the Corps of Detectives (CoD), Reserve Bank of India, Registrar of Cooperative Societies in Karnataka and the Department of Income Tax and urged them to look into the firm’s financial activities. The Police Commissioner also advised the public, through the media, to be cautious while depositing money.
“In response to our efforts, Chairman of the firm, Mr. S.M. Masood, and (his) advocates met me here on October 30, 2008 and accepted their mistake. They also assured me they would stop accepting deposits from the public, ” Mr. Bidari told presspersons here on Tuesday.
“The company has not obtained licences from the regulatory bodies under the Non Banking Finance Company Act. The police department took some initiatives … as this company too should not go the way of Viniv Inc, Darshanika, Quest or similar enterprise where people have lost heavily after investing money, ” he said.
people like us dont know this very well, just think if it is a proffessional and honest company they might have hold and organise a investors meeting in the beginning and spoke to all and convience about the situation but they have never done that, so now its impossible for them to do, its too late, now only third parties will contact us because they dont have guts to face . so its a day dream that we will meet sayed massod and his co .
THis person has actually done illegal business withour opting licence from RBI, so iam damn sure RBI will ruin there life . so obiviously this company has ruined many peoples life and in chennai they are worst hit, many people are going to die in debt and also thretened to fire themselves if they dont get there money, so many o[censored]s have invested money through getting loan from the banks and cant afford to repay it back many of them trusted this people whole heartedly but god forbids many people life will change after the catistrope. i pray to god for all those people who has invested there hard earn money and i wish god will punish those who are responsible and it definately going to effect there family and childrens who are really innocent, and definately god will make them to pay for there sins .
but i want to say something sayeed masood, literaly u have fooled and cheated all people but think u have done a big crime, you know u can make easy money in india rather than anyother country because u know the loophole in indian law but u cannot escape from god punishment, i[censored] cheat us, you will die with the pain where no one ever died before . so u have time to think, but do remember god is there and u have to pay for ur sins.
see actually for ur reference this is been published in HINDU november 5 2008 in karnataka edition but many of them where not aware of it . PLS READ THE BELOW
City Limouzines slams on the brakes
Staff Reporter
BANGALORE: The City Limouzines India Ltd., which claims to be an official sponsor of the Indian Hockey Federation, will not to collect deposits from the public till it gets licence from the Reserve Bank of India to conduct financial activities.
The firm had announced several attractive schemes on its website and invited deposits from the public. But following complaints from the public, City Police Commissioner Shankar M. Bidari wrote to the Corps of Detectives (CoD), Reserve Bank of India, Registrar of Cooperative Societies in Karnataka and the Department of Income Tax and urged them to look into the firm’s financial activities. The Police Commissioner also advised the public, through the media, to be cautious while depositing money.
“In response to our efforts, Chairman of the firm, Mr. S.M. Masood, and (his) advocates met me here on October 30, 2008 and accepted their mistake. They also assured me they would stop accepting deposits from the public, ” Mr. Bidari told presspersons here on Tuesday.
“The company has not obtained licences from the regulatory bodies under the Non Banking Finance Company Act. The police department took some initiatives … as this company too should not go the way of Viniv Inc, Darshanika, Quest or similar enterprise where people have lost heavily after investing money, ” he said.
people like us dont know this very well, just think if it is a proffessional and honest company they might have hold and organise a investors meeting in the beginning and spoke to all and convience about the situation but they have never done that, so now its impossible for them to do, its too late, now only third parties will contact us because they dont have guts to face . so its a day dream that we will meet sayed massod and his co .
THis person has actually done illegal business withour opting licence from RBI, so iam damn sure RBI will ruin there life . so obiviously this company has ruined many peoples life and in chennai they are worst hit, many people are going to die in debt and also thretened to fire themselves if they dont get there money, so many o[censored]s have invested money through getting loan from the banks and cant afford to repay it back many of them trusted this people whole heartedly but god forbids many people life will change after the catistrope. i pray to god for all those people who has invested there hard earn money and i wish god will punish those who are responsible and it definately going to effect there family and childrens who are really innocent, and definately god will make them to pay for there sins .
but i want to say something sayeed masood, literaly u have fooled and cheated all people but think u have done a big crime, you know u can make easy money in india rather than anyother country because u know the loophole in indian law but u cannot escape from god punishment, i[censored] cheat us, you will die with the pain where no one ever died before . so u have time to think, but do remember god is there and u have to pay for ur sins.
i hav invested 4lakhs in city limozonus...bt nw they didnt return d money and the cheques r bouncing...finally d company was in a fraud...plss...i want d solution 4dis...finally friends wat ru dng further...i want d help...plss suggest me. . . . . .plss...plsss...
Today there is article in TOI also