Comments
Hi guys...
You and I know that the meeting is scheduled on the 13th and 14th of this month, and also we know that we have to either be present at the meeting, or send in a proxy.
However, what about the other hundreds of people who possibly may have no idea about this meeting, and hence their proxy is out of question.
Does anyone have any information about the fate of all such investors who can't log on to the internet to seek any update, investors who can't get the info from the HO or the Branch Offices for they're all closed, investors who are illiterate.
Any constructive piece of advice on this front is highly appreciable. (Pl just don't write anything only for the sake of commenting).
Thanks,
You and I know that the meeting is scheduled on the 13th and 14th of this month, and also we know that we have to either be present at the meeting, or send in a proxy.
However, what about the other hundreds of people who possibly may have no idea about this meeting, and hence their proxy is out of question.
Does anyone have any information about the fate of all such investors who can't log on to the internet to seek any update, investors who can't get the info from the HO or the Branch Offices for they're all closed, investors who are illiterate.
Any constructive piece of advice on this front is highly appreciable. (Pl just don't write anything only for the sake of commenting).
Thanks,
Probe-wary Limouzines group knocks on Supreme Courts door
C Unnikrishnan I TNN
Mumbai: The rising number of investor complaints and fear of a detailed probe has prompted the management of City Limouzines India Ltd to approach the Supreme Court. Chairman of City Group, Sayed Masood, has filed a criminal appeal seeking orders directing the economic offences wing (EOW) of the city police to limit the investigation only to the lone case of cheating registered on a complaint by Jalandhar Pansare way back in 2007.
The company has relied on the apex courts judgment restoring Pansares FIR. The Bombay high court had quashed the FIR, but the judgment was set aside by the Supreme Court. In its judgment of August 4 this year, the apex court said that the investigation will be conducted fairly and the company will be allowed to carry out its business without any hindrance.
Soon after obtaining the judgment, said Masood, the Enforcement Directorate (ED) on August 11 raided the City Groups office as well as his house. The ED is investigating alleged foreign exchange violations of the company. Since EOW could not have caused hindrance to the companys business owing to the Supreme Court order, they got the ED to carry out the raid, claimed Masood. However, both ED and EOW officials have denied the allegations.
Advocate Bhavesh Parmar who had filed a PIL seeking police action on complaints against City Limouzines told TOI said that the Supreme Courts observations were specific to a particular case and is not binding on the fresh FIRs registered against the company. If there are new cases, the police is bound to take action. For the investors, the only option is to approach the police said Parmar .
Masood has urged the court to issue directions to the state government to file an undertaking saying it will not indiscriminately raid the premises which has resulted in paralysing the business.
C Unnikrishnan I TNN
Mumbai: The rising number of investor complaints and fear of a detailed probe has prompted the management of City Limouzines India Ltd to approach the Supreme Court. Chairman of City Group, Sayed Masood, has filed a criminal appeal seeking orders directing the economic offences wing (EOW) of the city police to limit the investigation only to the lone case of cheating registered on a complaint by Jalandhar Pansare way back in 2007.
The company has relied on the apex courts judgment restoring Pansares FIR. The Bombay high court had quashed the FIR, but the judgment was set aside by the Supreme Court. In its judgment of August 4 this year, the apex court said that the investigation will be conducted fairly and the company will be allowed to carry out its business without any hindrance.
Soon after obtaining the judgment, said Masood, the Enforcement Directorate (ED) on August 11 raided the City Groups office as well as his house. The ED is investigating alleged foreign exchange violations of the company. Since EOW could not have caused hindrance to the companys business owing to the Supreme Court order, they got the ED to carry out the raid, claimed Masood. However, both ED and EOW officials have denied the allegations.
Advocate Bhavesh Parmar who had filed a PIL seeking police action on complaints against City Limouzines told TOI said that the Supreme Courts observations were specific to a particular case and is not binding on the fresh FIRs registered against the company. If there are new cases, the police is bound to take action. For the investors, the only option is to approach the police said Parmar .
Masood has urged the court to issue directions to the state government to file an undertaking saying it will not indiscriminately raid the premises which has resulted in paralysing the business.
where is the meeting held on 13 n 14th of this month..?
anyone with the latest information please inform us. and please tell me the venue for the meeting.
anyone with the latest information please inform us. and please tell me the venue for the meeting.
HI ALL SITY INVESTOR,
MY NAME IS SUNIL, MAI MUMBAI ME REHTA HU, MAI AAP LOGO KO EK ACHI KHABAR DENA CHAHTA HU, WO YE KE AAJ SE MEANS 03/10/2009 SE CITY GROUPS KE HEAD OFFICE PHIR SE SHURU HO GAYA HAI AUR WOH LOG INVITATION KA KAAM KAR RAHE HAI, SO PLEASE BE HAPPYYYYYYYYYYYYYYYYYY
FOR ANY DETAIL CONTACT ME ON
[protected]
MY NAME IS SUNIL, MAI MUMBAI ME REHTA HU, MAI AAP LOGO KO EK ACHI KHABAR DENA CHAHTA HU, WO YE KE AAJ SE MEANS 03/10/2009 SE CITY GROUPS KE HEAD OFFICE PHIR SE SHURU HO GAYA HAI AUR WOH LOG INVITATION KA KAAM KAR RAHE HAI, SO PLEASE BE HAPPYYYYYYYYYYYYYYYYYY
FOR ANY DETAIL CONTACT ME ON
[protected]
dear ones,
i was very happy to know that we will get good returns in 5years so i kept on investing and sudenly one fine day i was told all cheques are getting bounced.
i will surely go for meeting and will require a answer as what will be final conculsion we will get our money or not if get then when and how much
i was very happy to know that we will get good returns in 5years so i kept on investing and sudenly one fine day i was told all cheques are getting bounced.
i will surely go for meeting and will require a answer as what will be final conculsion we will get our money or not if get then when and how much
hi to all city investors,
there is some good news to all, i received the copy of orders and proxy form through post, relieving me from a great tension to some extent. Lets all wait till the meeting is held and agree to whatsoever return is proposed. Hope city is doing something to all investors. As sunil said, headoffice is open and r sending the proxy forms to all investors. Its a good sign ...
there is some good news to all, i received the copy of orders and proxy form through post, relieving me from a great tension to some extent. Lets all wait till the meeting is held and agree to whatsoever return is proposed. Hope city is doing something to all investors. As sunil said, headoffice is open and r sending the proxy forms to all investors. Its a good sign ...
Dear Suresh Gwalior,
Though I have proxy forms and other details downloaded from City Limouzine's website, can u please write full address of metting place, i.e., Wilson High School, date, time, documents to be taken along with and any other details you feel suitable to share with other investors. Also I wish to know if you are from Mumbai some other state.
Thanks
Ashish
Though I have proxy forms and other details downloaded from City Limouzine's website, can u please write full address of metting place, i.e., Wilson High School, date, time, documents to be taken along with and any other details you feel suitable to share with other investors. Also I wish to know if you are from Mumbai some other state.
Thanks
Ashish
i am also one on the elite group. tell me onething what happens if somebody is not able to get the proxy form and deposit with city...is there any disparity with city's dicision going to be taken...why are u people banging on the so called proxy form, let them take the decision ...will be applicable to all...is it so...please your opinion..
Hi, M Sunny from faridabad, i have invested 2, 62, 841/- in the month of July'09 and my cheque was
cleared on 31st of July till date i havn't recd. even a single penny and not even a cheque...kindly update what is going on in city limouzine and also what necessary step an investor has to make.
Sunny [protected]
cleared on 31st of July till date i havn't recd. even a single penny and not even a cheque...kindly update what is going on in city limouzine and also what necessary step an investor has to make.
Sunny [protected]
tell me frnd wht is the status of meeting held in mumbai, wannkhede stadium. my cell no. is [protected]
I have one suggestion to investors, wait till meeting likely to be held on 14-15th.Oct, see what emerges
and if you are dissatisfied lodge complaint with police.
and if you are dissatisfied lodge complaint with police.
i had invested appx 460000/- and the cheques had bounced
Pls help me out contact [protected], [protected], [protected]
Pls help me out contact [protected], [protected], [protected]
hi ashish roy
noting toworry, i[censored] want to attnd the meeting take ur documents alonfg with cheques. how long u r associated with city ? i have made a lot from city i have a 200% faith on city. dont worry. chor case nai face karega... wo baagne ki koshish mein rahega na ki off kol ke proxy form bejega...
noting toworry, i[censored] want to attnd the meeting take ur documents alonfg with cheques. how long u r associated with city ? i have made a lot from city i have a 200% faith on city. dont worry. chor case nai face karega... wo baagne ki koshish mein rahega na ki off kol ke proxy form bejega...
hi, hope started receiving scheme of arrangement + proxy forms.i am an investor in city limou. of 2006 and received 40 cheques so far. prior to the receipt of the said form i felt that i have received my principle, (45*6000=270000/-), and balance is my pref.share of rs.70000/- and so i am pref.share holder and comes under class "B".but i got form as class "A" creditors. how is it. here is the study
first upall i am unsecured creditor Class "A"- as per the new arrangement.
.1. as per the proposed scheme of arrangement -part B- s.no.3, the amt received- pref. share
i.e my case[protected]=80667 is my balance principle amt.
2. then who will be class"B" under the present arrangement. ans: those who has received full 60 cheques and waiting for encashment for pref share.and he has received his full principle amt of rs.80667/-
3. then what is balance principle amt in my case who received 40 cheques with a principle inv. of 80667/-
4. it is 80667/60*20( balance period )=20166.75. this is the balanceprinciple amt for remaining 20 months.
5.then divide this 20166.75/15=1344/- this amt will be the diminishing principle per month
6. cal culate in excel by putting 20166.75 as the first( !5th) principle amt and reduce 1344/ per month and go downupto ist month.u will get the diminishing principle for 15 remaining period. the cal int @ 7% for 15 months with excel help. y will get intt of rs.941.39 for entire 15 months.the add 20166.75+941.39=21108.14. this is total repaybable amt under new scheme of arrangement.
7. the 21108.14/12( TEWLVE inst as per arrangement) will give an EMI of 1759.01.
8. at the end of 12 months, all ur principle will be paid and will left with pref share of 70000/ anf y will
be CLASS "B" creditors.
9. over all pay out 12 emis +perf share will be 21108.14+70000= 91108.14
hi, friends, this what i infer from the scheme . any comments and clarification pl welcome.
REMEMBER AS PER MY AGREEMENT OF YR 2005, IT IS ONLY A RENTAL INCOME ON CAR LEASING . NEITHER PRINCIPLE OR INTT ELEMENT INVOLVED. THE PRESENT SCHEME OF ARRANGEMET IS DRAFTED IN SUCH A MANNER GUYS LIKE ME ARE BROUGHT UNDER PRINCIPLE AND INTT PAYOUT. THIS WHAT I FELL - PICK THE PEANUTS.
first upall i am unsecured creditor Class "A"- as per the new arrangement.
.1. as per the proposed scheme of arrangement -part B- s.no.3, the amt received- pref. share
i.e my case[protected]=80667 is my balance principle amt.
2. then who will be class"B" under the present arrangement. ans: those who has received full 60 cheques and waiting for encashment for pref share.and he has received his full principle amt of rs.80667/-
3. then what is balance principle amt in my case who received 40 cheques with a principle inv. of 80667/-
4. it is 80667/60*20( balance period )=20166.75. this is the balanceprinciple amt for remaining 20 months.
5.then divide this 20166.75/15=1344/- this amt will be the diminishing principle per month
6. cal culate in excel by putting 20166.75 as the first( !5th) principle amt and reduce 1344/ per month and go downupto ist month.u will get the diminishing principle for 15 remaining period. the cal int @ 7% for 15 months with excel help. y will get intt of rs.941.39 for entire 15 months.the add 20166.75+941.39=21108.14. this is total repaybable amt under new scheme of arrangement.
7. the 21108.14/12( TEWLVE inst as per arrangement) will give an EMI of 1759.01.
8. at the end of 12 months, all ur principle will be paid and will left with pref share of 70000/ anf y will
be CLASS "B" creditors.
9. over all pay out 12 emis +perf share will be 21108.14+70000= 91108.14
hi, friends, this what i infer from the scheme . any comments and clarification pl welcome.
REMEMBER AS PER MY AGREEMENT OF YR 2005, IT IS ONLY A RENTAL INCOME ON CAR LEASING . NEITHER PRINCIPLE OR INTT ELEMENT INVOLVED. THE PRESENT SCHEME OF ARRANGEMET IS DRAFTED IN SUCH A MANNER GUYS LIKE ME ARE BROUGHT UNDER PRINCIPLE AND INTT PAYOUT. THIS WHAT I FELL - PICK THE PEANUTS.
dear Ashish & Pankaj
My friend has recd proxy for city limozines; time, place & venue is mentioned as per limozines or realcom scheme and as per creditor A or creditor B i.e. whether u have recd ur principal amt or not. meeting is on 14th & 15th oct. As far as definition of principal amt is concerned, it is such a legal language that only a financial legal expert can tell.
Manoj
My friend has recd proxy for city limozines; time, place & venue is mentioned as per limozines or realcom scheme and as per creditor A or creditor B i.e. whether u have recd ur principal amt or not. meeting is on 14th & 15th oct. As far as definition of principal amt is concerned, it is such a legal language that only a financial legal expert can tell.
Manoj
city realcom — 2 Cheques are pending to deposit
my two cheques dt. 19.8.09 & 19.9.09 are pending to deposite. when I visited to Mittal Tower office they informed to wait up to 7th Oct. 09. hi
like all o[censored] i also invested in city realcom. i have a trust in company they well pay what they promise for us.. lets pray for god . i woudl like to attend the meeting held on 14 and 15 of oct, do i have to register my self any were,
rgs
kishore subramanyam
like all o[censored] i also invested in city realcom. i have a trust in company they well pay what they promise for us.. lets pray for god . i woudl like to attend the meeting held on 14 and 15 of oct, do i have to register my self any were,
rgs
kishore subramanyam
Hi all,
My Brother & sister invested in this about 270k, insisted me to invest, put together 330K has been invested
If any details or improvements, let me Know.
My Brother & sister invested in this about 270k, insisted me to invest, put together 330K has been invested
If any details or improvements, let me Know.
hi, let me know the improvements
Today meeting of investors was called at Mittal Tower at 11:30AM upon reaching there found four police vehicles guarding entrance of Mittal Tower, when inquired about the meeting they said the venue changed meeting will be held at Azad Maidan somehow when I reached there, around 200 investors in different groups were having loose talk, some in favour of City Limouzine some neutral and some just wearing worried looks on their faces.
This meeting was supposed to be addressed by City representative, nobody from City came to address the meeting, instead Mr Masood & Co took the help of Mr Mhatre & his goons followed by some other street smart ’’JHOOLA CHHAP’’ wheeler dealers took the centre stage and forcibly addressed the gathering with condition that nobody should ask any questions, he started with showering praise on Mr Masood & Co and criticising Times Of India reporter Mr Unnikrishnan, classic case of shooting the messenger.
person name Vivek who has the guts to interrupt Mhatre & his cronies to ask why this gathering which was suppose to be addressed by City representative is addressed by you, where is City representative, commotion broke out Mhatre was left speechless, conclusion Mr Masood & Co is now relying on GOONS strong arm tactics.
Conclusion Only Divine intervention can only help investors