Comments
I m agreed with himansu, It is time 4 panic as our hard cash going 2 invain. who invested in the company for long time they are recover more than his principle amount. thats why they r happy.pl just think those people who r entring new or 6-7 months back.
Reply
To, Mr. Deepak Jaiswal & Neeraj Kaushik,
Yes, I have been investing in this company from back 2005 and I have profited a lot, but we are in the same dock, because I recently invested a large some of money again in the Combo Scheme. I have patience and I have faith in Mr. Masood that he won't let down any of his investors.
Yes, I have been investing in this company from back 2005 and I have profited a lot, but we are in the same dock, because I recently invested a large some of money again in the Combo Scheme. I have patience and I have faith in Mr. Masood that he won't let down any of his investors.
Dear Sir/Madam
I had invest in City Real com and City Hospitalities
My Cheque has bounced of value 7000/- and 7025 and 3690/- for the first time in last 2 yrs but the problem is that we and many of the family from my group has invested because of me and their cheque has also started bouncing i am afraid that if city is not going to pay then there will a major problem for our lives.
Pls do the need full.
I had invest my last 5 yrs saving, which is hard earned !! so what steps we can take me out.
I had invest in City Real com and City Hospitalities
My Cheque has bounced of value 7000/- and 7025 and 3690/- for the first time in last 2 yrs but the problem is that we and many of the family from my group has invested because of me and their cheque has also started bouncing i am afraid that if city is not going to pay then there will a major problem for our lives.
Pls do the need full.
I had invest my last 5 yrs saving, which is hard earned !! so what steps we can take me out.
hi friend
i am vivek from delhi, i along with my friends have invested a huge amount in the company i was and i am still positive about the company but the main problem is this that no won knows anything and every one knows every thingh company official in bombay office are saying that the case has gone in our favour, same are saying that they have got the next date of 16th sept. i am unable to understand the meening of ( IN OUR FAVOUR ).Today i had a long conversation with there bombay office, i gave them a suggestion that as your delhi office is closed people are coming in more trouble because first the main staff member of the company along with the director which used to intract with people left the company all of a sudden, they were there till 4th oct.i suggested them why dont you yourself give some details of court case and your ACTUAL future planing on your website. what actully happining is people have invested huge amount, they dont get the clear picture then the start searching on net from there they get some true information and some they gather fron friends and some from consumer complaint which may and may not be true. so i request some of my friend who is in bombay to go to the company office and narrate the actual positon thanks
i am vivek from delhi, i along with my friends have invested a huge amount in the company i was and i am still positive about the company but the main problem is this that no won knows anything and every one knows every thingh company official in bombay office are saying that the case has gone in our favour, same are saying that they have got the next date of 16th sept. i am unable to understand the meening of ( IN OUR FAVOUR ).Today i had a long conversation with there bombay office, i gave them a suggestion that as your delhi office is closed people are coming in more trouble because first the main staff member of the company along with the director which used to intract with people left the company all of a sudden, they were there till 4th oct.i suggested them why dont you yourself give some details of court case and your ACTUAL future planing on your website. what actully happining is people have invested huge amount, they dont get the clear picture then the start searching on net from there they get some true information and some they gather fron friends and some from consumer complaint which may and may not be true. so i request some of my friend who is in bombay to go to the company office and narrate the actual positon thanks
To, Mr. Deepak Jaiswal & Neeraj Kaushik,
I have been investing in this company from back 2004 and I have profited a lot, but we are in the same dock, because I recently invested a large some of money again in the Combo Scheme. I have patience Please do not spread rumors if you are not sure because most o[censored]s are depending on the company.
you can check the bombay high courts website where the case is pending and they have extended the date to 16th sept 2009. The Compony won't let down any of its investors.
I have been investing in this company from back 2004 and I have profited a lot, but we are in the same dock, because I recently invested a large some of money again in the Combo Scheme. I have patience Please do not spread rumors if you are not sure because most o[censored]s are depending on the company.
you can check the bombay high courts website where the case is pending and they have extended the date to 16th sept 2009. The Compony won't let down any of its investors.
Dear Mr. Intelguy, Rnb, Raj, Shashank Nagaraja, Manish Taneja,
I am not pressing the PANIC button. This is to inform, educate & prepare the people about WORST which could happen. Even I am waiting & praying for the best for all o[censored]s.
Mr. Raj, I am not paid for doing all this. What will I do with the database of INVESTORS who have been already hitted & disheartened to see their bounced cheques. We all had faith in the company that is why we had invested. But, now we have already seen the words of company men, which proved us wrong. We were given one date of 5th Sept' 09 for depositing the cheques which were kept pending for last 20 days. They all got bounced due to INSUFFICIENT FUNDS.
If any Investigation is going on, Why the banks didn't write like A/c freezed / Services Temporarily Withdrawn / Re-Present on Date ??? etc...
Why Do the Banks / EOW / High - Court / Police Dept. give a NOTICE in the newspapers, to wait till a specified date. No one has got the right to stop somebody ( a company / a individual) to pay an overdue amount to it's creditors / investors.
Please answer the following :
1.) Why Mr. Masood has not yet come publically to answer his INVESTORS ?
2.) If Mr. Masood wants to give money can't he find any other way ?
3.) How his company was running since last decade without basic approvals from RBI for collecting money ?
4.) Which will be the last day of clearing of our cheques 10, 15, 16, 25 Sept'09. Every office has it's own dates.
I agree, with your positive attitude. But, do you think that the case will be cleared in one day. If Mr. Masood have the intentions to pay his investors nobody can stop him from doing so. The dates are just sweeteners given to us.
Let's all UNITE together & take the company out of this mess. My intentions are not to go against them but to just get our commitments completed before it get delayed. Let's talk & take time for a meeting with Mr. Masood asap.
I am not pressing the PANIC button. This is to inform, educate & prepare the people about WORST which could happen. Even I am waiting & praying for the best for all o[censored]s.
Mr. Raj, I am not paid for doing all this. What will I do with the database of INVESTORS who have been already hitted & disheartened to see their bounced cheques. We all had faith in the company that is why we had invested. But, now we have already seen the words of company men, which proved us wrong. We were given one date of 5th Sept' 09 for depositing the cheques which were kept pending for last 20 days. They all got bounced due to INSUFFICIENT FUNDS.
If any Investigation is going on, Why the banks didn't write like A/c freezed / Services Temporarily Withdrawn / Re-Present on Date ??? etc...
Why Do the Banks / EOW / High - Court / Police Dept. give a NOTICE in the newspapers, to wait till a specified date. No one has got the right to stop somebody ( a company / a individual) to pay an overdue amount to it's creditors / investors.
Please answer the following :
1.) Why Mr. Masood has not yet come publically to answer his INVESTORS ?
2.) If Mr. Masood wants to give money can't he find any other way ?
3.) How his company was running since last decade without basic approvals from RBI for collecting money ?
4.) Which will be the last day of clearing of our cheques 10, 15, 16, 25 Sept'09. Every office has it's own dates.
I agree, with your positive attitude. But, do you think that the case will be cleared in one day. If Mr. Masood have the intentions to pay his investors nobody can stop him from doing so. The dates are just sweeteners given to us.
Let's all UNITE together & take the company out of this mess. My intentions are not to go against them but to just get our commitments completed before it get delayed. Let's talk & take time for a meeting with Mr. Masood asap.
ALL INVESTORS FROM DELHI ARE REQUESTED TO MEET AT THEIR NEHRU PLACE OFFICE TOMORROW IN SECOND HALF.
KINDLY CONFIRM BY POSTING REPLIES OR CALL[protected]
KINDLY CONFIRM BY POSTING REPLIES OR CALL[protected]
My investment is from the Delhi branch. I had long conversation with Mumbai Office. I asked them first why Delhi Office was closed - they said that the crowds had become huge and were threatening all the employees so all the employees were scared and wont come to office. I checked with some friends in other cities and there also they have the same problem. The mumbai office is open. They are saying that they were happy in paying the customers but because of government action they cannot, they also said that they didnt run away and that mostly the company is going to be paying the principal and some interest as decided by the government courts. They say matter is out of there hands but they didnt run away because for last 10 years they have been paying cheques. I think it is sad and I have a loss but I am not angry. I am still hoping court allows this company to run. I also check on the internet and with lawyer about getting the money back. The lawyer said that once court closes the company then they appoint a administrator like some bank. Then this bank takes customer paperwork and gives them the due money. I hope this works out well for everyone
Differenet branch office of City group give diffeent dates for deposiing the cheques, making the whole design of City group fishy.If City group were to maintain that they are bonafide in their business transaction except for the the litigation that is presently going on which they can legally foungt with, Mr.Masood in all fairness should releases a press note explaining their position and give an account as to how his group company is going to protect the investors and how long should the investor to bear with.
P.Senthilkumar
P.Senthilkumar
I have just spoken to them & they they said that the problem is solved & we should get a message between 16th & 20th with a message about when to deposit the cheque. I probed on what do they mean by "problem solved" & whether I can speak to any higher authorities; they said we can walk in to the office & speak to any of the directors as all of them are present in the office today.
I am just hopeful that this is just one of the step towards normalcy. I am planning to visit them in the next two days. If one of you manages to visit them, please update the latest status. I pray we get out of the as soon as possible
I am just hopeful that this is just one of the step towards normalcy. I am planning to visit them in the next two days. If one of you manages to visit them, please update the latest status. I pray we get out of the as soon as possible
Can anybody has latest updated from citygroups?. I has invested huge amount in this group(CiyRealcom as well as citylemouzine).this the first time that their cheques are bounced. As i had just called then but they told me that they will let me know after 16th.Now they cann't say anything.
we are all ont he same boat, all said and done would sum 1 kindky suggest what all we can do at this juncture where in the matter is with the courts - apert from lining up in front of closed offices? I agree tha masood shd have come forward...but he has not! (negetive aspect) we can raise our voices thru similar channels and atleast TRY!. But at the same tome atleast sum1 is answering our phone calls(positive aspect!). plz see that the final judgement(s) are yet to take place. Court dates dont cum in easy. So all that the co is doing is buying time. It s all so clear. If they tell you thaty dont know when the matter will get sorted out u, for that matter all o[censored]s may go over board...guys...it a court matter ...it will take time...i am not even banking on the 26th date...but atleast the scenario so far is favouring our side...if there is sumthing we can do concrete..which I cant think of...then let me know...and yeah i read sum where that thos who have filed individual complaints for chque bouncing have no option, but to wait until the matter goes through the legal channel...that means more litigation and more muck. So guys lets not file any complaint r such till EOM...PS I AM NO COMPANY DALAL I have 3 lakhs plus invested this july and i havent even received the cheques yet...so please...
My cheque for Rs.7775 has been returned twice stating insufficient funds.
Is there any new update from CityRealcom or City Lemousine? Please share the same with other member.
information from Bombay office that Bombay High Court has given City Limouzine the order to meet the clients on 7th October, 2009 to tell them about the future of the company.
City
Limouzine offices across the country are telling big big lies to the clients that They have won a case on 09/09/09.
But its a dam lie. The truth is we, the investors from all parts of India have to go to Bombay to meet the city limouzine officials on 7th October, 2009
That simply means, till 7th October, no cheques would be cleared.
So guys forget about getting ur payments on or after 15th September.
City
Limouzine offices across the country are telling big big lies to the clients that They have won a case on 09/09/09.
But its a dam lie. The truth is we, the investors from all parts of India have to go to Bombay to meet the city limouzine officials on 7th October, 2009
That simply means, till 7th October, no cheques would be cleared.
So guys forget about getting ur payments on or after 15th September.
court order on 9.9.09.heiring
THE HIGH COURT OF JUDICATURE OF BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPLICATION NO.932 OF 2009
In the matter of Companies Act, 1956
And
In the matter of Sections 391 of
the
Companies Act, 1956;
And
In the matter of Scheme of Compromise
between City Realcom Ltd. having its
registered Head office at 96, B-wing, 9th
Floor, Mittal Towers, Nariman Point,
Mumbai 400021
And
Its Creditors
City Realcom Ltd. a Limited
Company registered under the
Companies Act, 1956 having its
Registered office at 96, B-wing,
9th Floor, Mittal Towers,
Nariman Point, Mumbai 400021
through its Director Manoj
Vighe, Adult, Indian Inhabitant
having Addresss at 96 “B” Wing,
Mittal Towers, Nariman Point,
Mumbai 400021
))))
)
)
)
))))
…. Applicant Company
CALLED SUMMONS FOR DIRECTIONS:
Coram : S. J. Kathawalla J.
Date: 9th September 2009
Mrs. Alpana Ghone alongwith Mr. Simil Purohit with Adv. Virendra Maurya
and Adv. Nirmala Bhosale i/b V. N. Associates, for Applicant
1
MINUTES OF THE ORDER
UPON the Application of the Applicant Company abovenamed by the
Summons for Directions AND UPON HEARING Mr. Simil Purohit, Council
with Mr. Virendra Maurya i/b. V. N. Associates Advocates, for the Applicant
Company, AND UPON READING the Affidavit dated 21st August 2009 of
Manoj Vighe, the Director of the Applicant Company in support of Summons
for Directions and the Exhibits therein referred to; IT IS ORDERED:
1. That a meeting of Class “A” Creditors (as defined in the Proposed
Scheme) of the Applicant Company be convened and held on
Wednesday, the 7th day of October 2009 at 11:00 O’ clock, for the
purpose of considering and, if though fit, approving, with or without
modification, the proposed scheme of arrangement of Applicant
company with its creditors at Garware Club, (Wankhade Stadium), DRoad,
Churchgate, Mumbai 400 020.
2. That a separate meeting of Class “B” Creditors (as defined in the
Proposed Scheme) of the Applicant Company be convened and held
on Wednesday, the 7th day of October 2009 at 3:00 p.m., for the
purpose of considering and, if though fit, approving, with or without
modification, the proposed scheme of arrangement of the Applicant
company with its Creditors at Garware Club, (Wankhade Stadium),
D- Road, Churchgate, Mumbai 400 020.
2
3. That at least 21 clear days before the date of the aforesaid two
respective meetings to be held as aforesaid, an advertisement
convening the said meetings, indicating the day, the date, the place
and time aforesaid stating that copies of the Scheme, Notice, the
Explanatory Statement required to be furnished pursuant to section
393 of the Companies Act 1956 and Forms of Proxy can be obtained
free of charge at the Registered Office of the Applicant Company, be
published once each in two local newspaper, viz, “Free Press Journal”
in English and in “Maharashtra Times” in the Marathi both having
circulation in Mumbai. The publication of the Advertisement in the
Maharashtra Government Gazette is dispensed with.
4. That, in addition, at least 21 clear days before the date of the
aforesaid two respective meetings to be held as aforesaid, a notice
convening the said meetings indicating the day, the date, the place
and time aforesaid, together with a copy of the said Scheme, a copy
of the Explanatory Statement required to be furnished pursuant to
Section 393 of the Companies Act 1956 and the prescribed Forms of
Proxy, shall be sent by pre-paid letter under Certificate of Posting
addressed to each of the Class “A” and Class “B” Creditors of the
Applicant Company at their respective registered or last known
addresses.
3
5. That the settling and approving of the form of advertisement, Form of
proxy, the form of notice, the Explanatory Statement required to be
furnished pursuant to Section 393 of the Companies Act, 1956 to
accompany the notice by the Company Registrar of this Court is
dispensed with. The Applicant Company undertakes to:
a. Advertise the Notice convening Meetings as per Form
No.38 (Rule 74)
b. Issue statement containing all the particulars as per
Section 393 and other applicable provisions, if any, of
the Companies Act, 1956
c. Issue Form of Proxy as per Form No.37
d. Issue Notice convening meeting as per Form No.36
(Rule 73)
The undertaking is accepted.
6. Mr. Kesar Baig, Accountant, failing him, Ms. Nirmala K. Bhosale,
Advocate, failing him, Mr. Akram Khan, Sales Manager, failing him,
Mr. Rajiv Lamba, Executive Director, is appointed as the Chairman of
the both meetings of Class “A” and Class “B” Creditors, to be held on
7th October 2009.
7. The quorum of the meeting of Class “A” Creditors is fixed at 20 Class
“A” Creditors present in person or by proxy or through Authorised
Representative.
4
8. The quorum of the meeting of Class “B” Creditors is fixed at 20 Class
“B” Creditors present in person or by proxy or through Authorised
Representative.
9. That the Chairman appointed for the aforesaid two meetings to issue
advertisement and sent out notices of the aforesaid meetings referred
to above. The Chairman is free to avail the services of the Applicant
Company or any agency for carrying out the said directions. It is
further directed that the Chairman of the meetings shall have all
powers under the Articles of Association of the Applicant and the
under the Companies (Court) Rules 1959 in relation to the conduct for
the meetings including an amendment to the Scheme or Resolution if
any, proposed at the meetings by any person(s) and to ascertain the
decision of the meetings on a poll.
10. That voting by proxy/authorized representative is permitted, provided
that the proxy in the prescribed form / authorization duly signed by the
person entitled to attend and vote at the aforesaid meetings or by his
authorized representative, is filed with the Applicant at its Registered
officer at 102, B-wing, 10th Floor, Mittal Towers, Nariman Point,
Mumbai 400021, not later than 48 hours before the said respective
meetings as per Rule 70 of the Company (Court) Rules 1959.
11. That the value of the each creditor shall be in accordance with the
records or registers of the Applicant Company and where the entries
5
in the books are disputed the Chairman shall determine the value for
the purpose of the meetings.
12. That the Chairman shall report to this Court the result of the said
meetings within 14 days of the conclusion of the respective meetings
and the said report shall be verified by his Affidavit.
13. In view of the averments made in paragraph No.10 of the Affidavit in
Support of Summons for Directions, the convening and holding of the
meetings of the Shareholders and the Un-Secured Creditors of the
Applicant Company are dispensed with.
14. Certified copy be expedited
Company Judge
6
THE HIGH COURT OF JUDICATURE OF BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPLICATION NO.932 OF 2009
In the matter of Companies Act, 1956
And
In the matter of Sections 391 of
the
Companies Act, 1956;
And
In the matter of Scheme of Compromise
between City Realcom Ltd. having its
registered Head office at 96, B-wing, 9th
Floor, Mittal Towers, Nariman Point,
Mumbai 400021
And
Its Creditors
City Realcom Ltd. a Limited
Company registered under the
Companies Act, 1956 having its
Registered office at 96, B-wing,
9th Floor, Mittal Towers,
Nariman Point, Mumbai 400021
through its Director Manoj
Vighe, Adult, Indian Inhabitant
having Addresss at 96 “B” Wing,
Mittal Towers, Nariman Point,
Mumbai 400021
))))
)
)
)
))))
…. Applicant Company
CALLED SUMMONS FOR DIRECTIONS:
Coram : S. J. Kathawalla J.
Date: 9th September 2009
Mrs. Alpana Ghone alongwith Mr. Simil Purohit with Adv. Virendra Maurya
and Adv. Nirmala Bhosale i/b V. N. Associates, for Applicant
1
MINUTES OF THE ORDER
UPON the Application of the Applicant Company abovenamed by the
Summons for Directions AND UPON HEARING Mr. Simil Purohit, Council
with Mr. Virendra Maurya i/b. V. N. Associates Advocates, for the Applicant
Company, AND UPON READING the Affidavit dated 21st August 2009 of
Manoj Vighe, the Director of the Applicant Company in support of Summons
for Directions and the Exhibits therein referred to; IT IS ORDERED:
1. That a meeting of Class “A” Creditors (as defined in the Proposed
Scheme) of the Applicant Company be convened and held on
Wednesday, the 7th day of October 2009 at 11:00 O’ clock, for the
purpose of considering and, if though fit, approving, with or without
modification, the proposed scheme of arrangement of Applicant
company with its creditors at Garware Club, (Wankhade Stadium), DRoad,
Churchgate, Mumbai 400 020.
2. That a separate meeting of Class “B” Creditors (as defined in the
Proposed Scheme) of the Applicant Company be convened and held
on Wednesday, the 7th day of October 2009 at 3:00 p.m., for the
purpose of considering and, if though fit, approving, with or without
modification, the proposed scheme of arrangement of the Applicant
company with its Creditors at Garware Club, (Wankhade Stadium),
D- Road, Churchgate, Mumbai 400 020.
2
3. That at least 21 clear days before the date of the aforesaid two
respective meetings to be held as aforesaid, an advertisement
convening the said meetings, indicating the day, the date, the place
and time aforesaid stating that copies of the Scheme, Notice, the
Explanatory Statement required to be furnished pursuant to section
393 of the Companies Act 1956 and Forms of Proxy can be obtained
free of charge at the Registered Office of the Applicant Company, be
published once each in two local newspaper, viz, “Free Press Journal”
in English and in “Maharashtra Times” in the Marathi both having
circulation in Mumbai. The publication of the Advertisement in the
Maharashtra Government Gazette is dispensed with.
4. That, in addition, at least 21 clear days before the date of the
aforesaid two respective meetings to be held as aforesaid, a notice
convening the said meetings indicating the day, the date, the place
and time aforesaid, together with a copy of the said Scheme, a copy
of the Explanatory Statement required to be furnished pursuant to
Section 393 of the Companies Act 1956 and the prescribed Forms of
Proxy, shall be sent by pre-paid letter under Certificate of Posting
addressed to each of the Class “A” and Class “B” Creditors of the
Applicant Company at their respective registered or last known
addresses.
3
5. That the settling and approving of the form of advertisement, Form of
proxy, the form of notice, the Explanatory Statement required to be
furnished pursuant to Section 393 of the Companies Act, 1956 to
accompany the notice by the Company Registrar of this Court is
dispensed with. The Applicant Company undertakes to:
a. Advertise the Notice convening Meetings as per Form
No.38 (Rule 74)
b. Issue statement containing all the particulars as per
Section 393 and other applicable provisions, if any, of
the Companies Act, 1956
c. Issue Form of Proxy as per Form No.37
d. Issue Notice convening meeting as per Form No.36
(Rule 73)
The undertaking is accepted.
6. Mr. Kesar Baig, Accountant, failing him, Ms. Nirmala K. Bhosale,
Advocate, failing him, Mr. Akram Khan, Sales Manager, failing him,
Mr. Rajiv Lamba, Executive Director, is appointed as the Chairman of
the both meetings of Class “A” and Class “B” Creditors, to be held on
7th October 2009.
7. The quorum of the meeting of Class “A” Creditors is fixed at 20 Class
“A” Creditors present in person or by proxy or through Authorised
Representative.
4
8. The quorum of the meeting of Class “B” Creditors is fixed at 20 Class
“B” Creditors present in person or by proxy or through Authorised
Representative.
9. That the Chairman appointed for the aforesaid two meetings to issue
advertisement and sent out notices of the aforesaid meetings referred
to above. The Chairman is free to avail the services of the Applicant
Company or any agency for carrying out the said directions. It is
further directed that the Chairman of the meetings shall have all
powers under the Articles of Association of the Applicant and the
under the Companies (Court) Rules 1959 in relation to the conduct for
the meetings including an amendment to the Scheme or Resolution if
any, proposed at the meetings by any person(s) and to ascertain the
decision of the meetings on a poll.
10. That voting by proxy/authorized representative is permitted, provided
that the proxy in the prescribed form / authorization duly signed by the
person entitled to attend and vote at the aforesaid meetings or by his
authorized representative, is filed with the Applicant at its Registered
officer at 102, B-wing, 10th Floor, Mittal Towers, Nariman Point,
Mumbai 400021, not later than 48 hours before the said respective
meetings as per Rule 70 of the Company (Court) Rules 1959.
11. That the value of the each creditor shall be in accordance with the
records or registers of the Applicant Company and where the entries
5
in the books are disputed the Chairman shall determine the value for
the purpose of the meetings.
12. That the Chairman shall report to this Court the result of the said
meetings within 14 days of the conclusion of the respective meetings
and the said report shall be verified by his Affidavit.
13. In view of the averments made in paragraph No.10 of the Affidavit in
Support of Summons for Directions, the convening and holding of the
meetings of the Shareholders and the Un-Secured Creditors of the
Applicant Company are dispensed with.
14. Certified copy be expedited
Company Judge
6
By reading this i found that, , , they have got order for a meeting with creditors of class A and class B. and hearing of their stay order will be on 16 th sep. now as we are the creditors. so after 15th they will told us about the meeting and extend the date to 7th October or 10th of October.
on the other hand if they get stay on 16 th sep, then we cannot do any thing . the company is saying the stay is taking to carry on company works without further delay.
but look at the other side, no one can file a case of check bouncing after the stay, , and after this they start restructuring the company, , and by taking advantage of restructuring, thay can file a bankruptcy petition, if this happen then we will surly get nothing.
on the other hand if they get stay on 16 th sep, then we cannot do any thing . the company is saying the stay is taking to carry on company works without further delay.
but look at the other side, no one can file a case of check bouncing after the stay, , and after this they start restructuring the company, , and by taking advantage of restructuring, thay can file a bankruptcy petition, if this happen then we will surly get nothing.
To all felllow investors
This is the order passed by Hon;ble High Court on the City Limouzines and
City Real application for merging the two company in to one in which 21 days
before the 07 Oct 2009 Notice to be issued to all Cretidors of A category
and Cat B.
*Big question is who are Class "A" and Class "B" investors in these two
company Only their original application which filed in court can reveal
this.
Another point is what after 07 Oct 2009 again 14 days with amalgamation
Chairman. It means full Oct 2009 is gone.
Now exactly one month passed no statement has come from company for
Investors. What they are speaking now it is well settled they speaking
false.
With this amalgamation case Cheque bounce is not concerned. All are sister
companies and all are set up by our investors of City Limouzines and City
real Com they have been established.
If company is not insolvent and Bankrupty, why company is not issuing any
statement.
What Mr. Masood is checking the patience of the Investors, enough is enough.
Mr. masood and All company directors wake up that will be better for your
future.
U/s 138 who are having bounce checques please it is my personal opinion to
issue the notice to Company and file the cases. because time is lapsing and
closing to one month.
*It is also coming to knowledge that some people are collecting the money
for fighting the case for paying lawyer fees. remember one thing first set a
date of Each city people and meet together and discuss and decide next
course of action.
Now complain can be filed U/s 415 against the company is Company is not
coming out with any statement.
*Today one person ring me from Bombay and said that they are going to pay
new Costumers money back with 07% interest. I don not whether it is right or
wrong what will be old customers those who are 02 yrs old .
If any body who is near to Advocate Maurya can get the Original petition and
from that we can come to Know who is Class A and class B creditors. please
try best to get it.
This is the order passed by Hon;ble High Court on the City Limouzines and
City Real application for merging the two company in to one in which 21 days
before the 07 Oct 2009 Notice to be issued to all Cretidors of A category
and Cat B.
*Big question is who are Class "A" and Class "B" investors in these two
company Only their original application which filed in court can reveal
this.
Another point is what after 07 Oct 2009 again 14 days with amalgamation
Chairman. It means full Oct 2009 is gone.
Now exactly one month passed no statement has come from company for
Investors. What they are speaking now it is well settled they speaking
false.
With this amalgamation case Cheque bounce is not concerned. All are sister
companies and all are set up by our investors of City Limouzines and City
real Com they have been established.
If company is not insolvent and Bankrupty, why company is not issuing any
statement.
What Mr. Masood is checking the patience of the Investors, enough is enough.
Mr. masood and All company directors wake up that will be better for your
future.
U/s 138 who are having bounce checques please it is my personal opinion to
issue the notice to Company and file the cases. because time is lapsing and
closing to one month.
*It is also coming to knowledge that some people are collecting the money
for fighting the case for paying lawyer fees. remember one thing first set a
date of Each city people and meet together and discuss and decide next
course of action.
Now complain can be filed U/s 415 against the company is Company is not
coming out with any statement.
*Today one person ring me from Bombay and said that they are going to pay
new Costumers money back with 07% interest. I don not whether it is right or
wrong what will be old customers those who are 02 yrs old .
If any body who is near to Advocate Maurya can get the Original petition and
from that we can come to Know who is Class A and class B creditors. please
try best to get it.
As per the information I have received from Pune Director, that Class
A creditor are old investors who have completed more than a year or
so.., Class B creditors are who has been less than a year and not
recoverd their principal (or this could be vice-a-versa)
Actual information we can obtain from petition, I hope you might be
having some source at Bombay high court, to get a copy of petition.
A creditor are old investors who have completed more than a year or
so.., Class B creditors are who has been less than a year and not
recoverd their principal (or this could be vice-a-versa)
Actual information we can obtain from petition, I hope you might be
having some source at Bombay high court, to get a copy of petition.
Dear colleagues
I am to request you all that kindly be patient and at the same time let us get together and show city group that we stand united...I am also an investor from 2 years and I have also invested a huge amount...the very fact that the company has ran away is rubbish as you can see they are very much here and facing the court and its proceedings
what i personally feel that some of the investors are getting panicked as some of them have taken loans and advances from credit cards and have made an investment and dont know how to repay...I have offcourse a lot of sympathy with them but at the same time let us not be driven by emotions at this time.
So here I am not saying that we should not get together and take action but we need to have patience and look into it with cool minds .Me as a doctor have seen my young kids joining call centers and having salary at early stages of life standing is city group offices...so plzz dont be immature and make hasty decisions
We should let the company run and should not unnecessarily file FIR or Petitions in Courts as it will unnecessary delay the matter.
What i could get the information that they have a meeting on 7th oct and they will talk to us ...so lets hope for the best to get our money with reduced profits or atleast principle amount back...thats what we all want...
Regarding offices being shut ...guys Indian mentality ...we all like going to the weakest link and shouting yelling and harasshing a employee or a receptionist who merely may be earning 10000 rupees a month ...so we dont leave them a choice ...do we?
But i also am annoyed by the fact that the representatives of the company should come forward and ascertain the investors about the real situation
hope i make sense
I am to request you all that kindly be patient and at the same time let us get together and show city group that we stand united...I am also an investor from 2 years and I have also invested a huge amount...the very fact that the company has ran away is rubbish as you can see they are very much here and facing the court and its proceedings
what i personally feel that some of the investors are getting panicked as some of them have taken loans and advances from credit cards and have made an investment and dont know how to repay...I have offcourse a lot of sympathy with them but at the same time let us not be driven by emotions at this time.
So here I am not saying that we should not get together and take action but we need to have patience and look into it with cool minds .Me as a doctor have seen my young kids joining call centers and having salary at early stages of life standing is city group offices...so plzz dont be immature and make hasty decisions
We should let the company run and should not unnecessarily file FIR or Petitions in Courts as it will unnecessary delay the matter.
What i could get the information that they have a meeting on 7th oct and they will talk to us ...so lets hope for the best to get our money with reduced profits or atleast principle amount back...thats what we all want...
Regarding offices being shut ...guys Indian mentality ...we all like going to the weakest link and shouting yelling and harasshing a employee or a receptionist who merely may be earning 10000 rupees a month ...so we dont leave them a choice ...do we?
But i also am annoyed by the fact that the representatives of the company should come forward and ascertain the investors about the real situation
hope i make sense