[Resolved]  City Limouzines — financial fraud

plz report the mattter to SFIO and RBI urgently
Was this information helpful?
No (0)
Yes (0)
Aug 14, 2020
Complaint marked as Resolved 
Complaint comments 

Comments

dear investors, instead of still having hopes in the co. or claimig to b a complete fraud, it is high time to know what exactly is the matter.some say there is a meeting on 7th oct & if there is a meeeting where & at what time. i wish we meet  all together at the earlest. i & many invest. r paying there bank emi 4 there rented car which actually is running on road even today.we need need to clear the matter at earliest.
thanx.
Hi all, this issue is being covered in Sun News it seems.. check out!
I think u are all right!! my cheque has also bounced and the company seems to be completly fraud


Please at least give me a call if you get any news about it:
AT
[protected]
Hi all,

I too have invested in this company in the Hyderabad branch. Pls let me know is any progress in this regard.

Thanks
pl ger together all investors of citi limo. and form a investor forum who will represent all investors.
please be informed about the devolpments to all
hi everyone, its time to think about the decision we made to invest in a coy like this. its about risk which we have taken. now its time to come together and get that in prison as soon as possible. on the other hand i must advise all the investors to keep their fingers crossed and start looking to recover their money from other sources and let this be a lesson to all o[censored]s who did this investment in greed. all the best!!!
in Chennai sun TV showed the pictures of angry customers, and views in their regional news.some said there is a meeting of investors tomorrow at 10 am, at the ground floor, Rianz garden, whee the branch office is located.

any body from mumbai say about the judgment of case no cal/939/09 which came for final hearing today. in website no orders are posted.
my account number-17555. i have deposited Rs.1, 28, 010 in city realcom limited .I have four posted cheques . No proper response from chennai branch. I have watched SUN NEWS CHANNEL that your company is closed. This is for your kind information and neccessary favourable action please.
my account number-10293. i have deposited Rs.131000 in city realcom. I have five post dated cheques. what should i do? i am disappointed about information got from SUN NEWA CHANNEL. what is your reply? this is for your kind information.please take further actions. ph:[protected]
sir what position pl inform sir [protected] my phone no.
todays newspaper times of india, mumbai said tht ---

;"passport of massood sayeed, the chairman of city limo, an investment firm being probed by ENFORCEMENT DIRECTORATE(ED), has been impounded on request of ED.
city limo is being investigated for alleged foreign exchange violations in connection with a rs. 300 crore export of diamonds to dubai.sources said the buyer of dubai and the party who has remitted the amount were different.they said exports were effected last year and the suppliers of diamonds as claimed by the company denied any such transaction.
the ECONOMIC OFFENCES WING (EOW) of the city police which ws investigating a case of cheating lodged against the company has started receiving more complaints in the last two days.
the investors are planning to meet on shivaji park ground, mumbai on september 17th.
on tuesday, EOW AND ED and some of the investors opposed an application filed by massood in the metropolitan magistrate court seeking permission to go abroad.
ED inits reply said that masood`s family is settled in the USand hence he may not return.the company said that massood is required to travel out of the country on wednesdaybut thecourt adjourned the matter to september 22nd saying it wanted to consider the application on merits."
Hi,
I have invested in this company in june 09 because my cousin told me and he is getting regular cheques from last couple of yrs. I got only 1 cheque cleared and after that i got call from city limouzines saying some audit is going on till sep 5 so i waited till 5th sept.since the news broke out of cheque bounce i m worried. I m hoping things will be back on track
Hi
I invested 128000 on 24/06/09 and got 7 post dated cheque after 20 days for 8800. I deposited my 1st cheque on july 24th and got it cleared. i got a call from city limouzine sometime in august before 24 th and they said not to deposit cheque because some audit is going on, at that very moment i was sceptical abt the fraud. so guys anyone who have better information to share plz call me on cell no.[protected]

City Limouzines — company failed to pay monthly installments

citi limouzines mumbai. we invested lot of money with this company. company offices were closed at hyderabad. and they were not responding to our calls. media news is that the company closed. please investigate on this company. and recover our money as early as possible.
times of india website states-
MUMBAI: The office of the registrar of cooperatives has begun an inspection into the accounts of City Cooperative Credit Society, a sister
concern of City Limouzines.
"There is a web of transactions which we are trying to figure out. The credit society financed the vehicles that were purchased by City Limouzines and given on hire. It also financed the properties purchased through City Realcom. Of the investments collected from the public, a part was deposited as fixed deposits in the credit society, '' said an official from the registrar of cooperatives.

City Limouzines, a part of the City Group, is being investigated by the economic offences wing (EOW) of the city police for cheating and by the Enforcement Directorate for foreign exchange violations. The cheques issued by the company as returns on investments have started bouncing, causing panic among thousands of investors.

Meanwhile, EOW will file an application in the Bombay high court to modify a December 2007 order which imposed certain conditions on the company's chief Sayeed Masood and two directors while going abroad. "There was only one complaint then but now several investors have come forward. Hence, those conditions need to be modified, '' said additional commissioner of police (EOW) Sanjay Saxena. The HC had asked the directors to deposit Rs 55, 000, make an application in the Esplanade Court and provide their travel itinerary before leaving the country.

One of the investors, Kirti Patel has filed a PIL urging the court to direct EOW to register fresh FIRs against the company. "The police have registered only one FIR. Our complaints should also be registered, '' he said.
Wake up people !!!

They have shut shops... and we have lost the money !!!

Read this article posted on news-relay.com... for further details, check this site.. there are several other sites that have posted similar news.

********* CITY LIMOUZINES India Limited, a finance company, shuts the doors of business in Hyderabad on Tuesday by cheating counts of customers.

A case has been filed in Abids police station against the company under section 420 (cheating) of IPC.

Approx 50 clients, who either experienced the fraud or came to know of the fraud from the secondary sources, hurried to the city branch office of the firm at Abids.

But they found that the office was closed, on the span of minute they approached the Abids police station.

The police filed a case against the company at around 8.30 pm

The company had also issued preference shares in the name of City Realcom Limited, and attracted credulous investors by asking them to invest a minimum of Rs 1, 30, 000 with a promise that the investor would get a monthly return of Rs 7775 per Rs 1.30 lakh.

The company paid interest every month for three years, but their cheque got dishonoring since August********

Tough luck.. looks like i will go mad !!!
Pop, Please dont jump into any conclusions, I have been following up with the things going around and Im quiet confident that we shall defntly get our money back. The news which you have posted here is just based on what ppl say and it is not the fact and also keep in mind that it is just from media and not from the Court.

Please have faith.. And one more piece of info is that one of my friend who went 2 mumbai a couple of days back, met the directors and even Masood and he told like he got a very positive reply and they are ready to continue the business with reduced returns and duration.

I request you all to please wait till oct 7th and if possible plan to attend the meeting which is scheduled in mumbai..

Thanks!
I am from chennai and have invested in city group since 2007 and also in 2009 I was getting all my cheques cleared so far on Aug.11th 2009 I invested in combo schem and the problem started for cheque bounce I have not got any PDC for my last investments and now Chennai nugambakkam office is also closed and thousands of people are coming everyday to find out the mumbai office is still functioning but are not able to give clear picture it seems now they have come up with a meeting 0n 7th October at Wankhade Stadium mumbai and the management are going to give clarification towards the problem please who ever are in mumbai attend the meeting and let us know the outcome of the same as the company person are saying that the investor money will be refunded but how, when and why the delay is not clear. Hope this problem is cleared as crores of person have invested their hard earn money in this company and now all other location offices are closed accept mumbai HO. lets all take a collective action towards the whole issue and the government, police should protect our hard earn money. All the best to all investors
Jimmy Fitter ( Chennai )
I have also invested in the company. Does anybody have any latest information on the company.

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit

    Contact Information

    India
    File a Complaint