Sunday, April 10, 2011

latest City Limouzine fraud news

20th mar 2011
 FYI to all readers:

I met with all the authorities and the news is not good. There are 11 agencies in line for the funds available after liquidation. The liquidation process will take 5-7 years and there will be several applications in the court by various agencies including TN police, AP police, Delhi Police, ED etc.

The focus at present is to make sure Masood does not get out of Jaipur Jail and there are other authorities ready to take custody post Nov 2011. An advisory panel meeting is scheduled later this month to increase Masood's detention.

Each and everyone of you can certainly fill the forms requested by the liquidator but please do not have high hopes of getting funds back. The amound you receive back after many years will be less than 5%.

Once again I repeat, please do not fall prey to associations and groups that take money from you for fighting a case. I was at Mumbai EOW yesterday and the officers were telling me of various groups that have been formed over the last 2 years and they are one step ahead of Masood in terms of taking money from people who have already been cheated. Please exercise caution.

Another piece of news is that ED was able to freeze a few more bank accounts belonging to Chand and Masood in Switzerland but the process to bring those funds back to India is lengthy.

At this stage, I request everyone to continue the fight and make sure each and every person of the Masood family and the company directors are brought to justice.

Vedant
===================
Dear Vedant Sir,

I have realcom files. Shall i file the claim??

How do i send my claim?? By post or personally??

Please do reply fast. I am waiting...

Regards
===============

The liquidator is accepting both City Limouzine and City Realcom claims. You can file now or wait for the official notice in 4-6 months.

Vedant
=============
16th mar 2011
There will be a single liquidator for all of India.
======
Hello Inverters concerned
Cases relating to City Realcom for winding up is posted for 17/3/2011 with all the matter connected to Realcom Ltd.
Thanks
====================
2nd mar 2011.
As far as City Realcom matter, the same is listed for hearing on 3.3.11. We have to await for the decision. However, many of the investors have filed the claim forms for all the investments made. The Official Liquidator address can be collected by going through old messages. Your contention to use Rs.20/= non-judicial stamp paper is correct.
=====================
Saab,
Can you please be kind enough to give the address of the OFficial Liquidator in Mumbai to whom we have to send the filled Form-66. I understand from your below mail that the attached format must be typed in Rs.20/- stamp paper, duly filled and submitted to the official liquidator in Mumbai. Please let me know if my understanding is correct. I have invested in City Realcom. Please clarify. Await your reply. Regards,
==============

Dear City investors,

We have a formulated form 66 as per the attachment and many of us have sent the same to Official Liquidator, Mumbai on a stamp paper of Rs.20/= duly notarised. If the investors find the same OK they may may use the same. As far as Exhibit, you may enclose a separate statement giving the details of file no. amount invested, amount due as per the scheme, amount received and amount due, This is how some of us have prepared the form and filed.
============
17th feb 2011
Dear Vedant, Many Many Happy returns of the day, may god bless you with loads n loads of hapiness.
HAPPY BIRTHDAY VEDANT, GOD BLESSYOU, YOUR GLARES, YOUR KURTA, YOUR PAUNCH, YOUR FAMILY AND YOU WITH HEALTHYLONG LIFE AND FOR ALL THE GOOD WORK YOU ARE DOING FOR US FROM A FARAWAY PLACE.
========
7th feb 2011
Folks- everyone is asking about Form 66. Even if you fill the form and give it to the liquidator, this process is going to take a few years. Why don't you wait for instructions from the liquidator and then take steps? Nothing is going to happen today by filling out this form. Like I have said earlier, detailed instructions will be posted as soon as they are made available.

Some of you are sending the same email 5-10 times. Please stop sending emails so many times. It simply clogs inboxes.

Vedant
=========
1st feb 2011
Dear All, There is lot of news going on.But there is no official communication in any newspaper(in the form of ADVERTISEMENT) regarding the claims process. Also as told by Vedant please be looking into this link for all updates of the case.Thanks for continous updates.
http://bombayhighcourt.nic.in/site/company/dispnotice.html
We thank Mr.Ali for all the right postings and guidance he is giving to the Investors. Below mail from Mr.ALI is important and worth noting:
Dear only Provisional Liquidator was appointed in that order dated
8/10/2010. I have put full order copy also.
What you mean Provisional Liquidator:
A provisional liquidator may be appointed after a petition to
'wind-up' a company has been presented to the court. This may be
because there is concern that assets are at risk or because it is not
in the 'public interest' for the company to continue trading. The
assets and potential creditors are therefore protected until the court
hears the winding-up petition. Alternatively, a provisional liquidator
may be appointed to preserve a business until its financial affairs
can be brought into order. The provisional liquidator will carry out
duties as set out in the court's order in dealing with the company's
assets and affairs.

It is a First Stage only It can fall also if Application on which it
is made is not succeed.
Duties of the Official Receiver as Provisional Liquidator
During a provisional liquidation the Official Receiver carries out
duties as set out in the court order. These duties vary depending on
the company concerned but they usually involve:
• Protecting assets
• Safeguarding the company's records
• Investigating the company's affairs only in so far as it is
necessary to discover, protect and recover assets

What will happen if the Petition to put the Company in Liquidation has
been Dismissed:
The company will be returned to the control of the Director(s). All
property will be returned to the trading premises and any assets that
were being held by the Official Receiver will be released back to the
company.

So it is too early to say any thing, It is only Provisional Liquidator
not the Official liquidator, when any application for liquidation is
before High court , It is duty of High Court after hearing the matter
to appoint Provisional Liquidator to protect the interest of Investors
and Company assets from misused so they appoint provisional
Liquidator.
rest what people are doing in some cities that is their own thinking.
Thanks
Dr Zulfiqar Ali Khan
Advocate
High Court of Madras

27-01-2011
you are right.. when i was investing i did a thorough survey of the
company before investing as i was taking personal loans of 42 lakhs
from 13 banks and kotak was one of them!!
i was meeting geeta razzaki and that bastard anil dmello to allay my
fears in investing so much money and there were 2 guys from kotak with
her. she told them to tell me that her company was a safe bet. this
was when city grp stopped the cheques from idbi and dbs and the job
was given to kotak for printing of our cheques.
when i spoke to the kotak guys after the company closed, about this
fact, they told me that it is not their problem as their loan
documents clearly claim the money should not be invested in such
schemes...
=============
26-01-2011
We have located a shell company used by Masood in the Bahamas by the name of Wharf Corporation. This company was actively used by him in addition to City Trading LLC for all the money laundering carried out over the last 6-8 years.

We have also located the person/ company who is listed as the on paper purchaser of Chand Masood's properties in the US and that party is now being pursued.
Lastly, the one year detention of Masood in Jaipur Central Jail is going to converted to two years based on approval from the Central Government. This gets him locked up till Nov 2013 now.
Geeta Razzaki remains in custody in Tihar Jail.
As soon as I get information from the liquidator on the claim process, it will be posted here in detail.
Vedant

Form 66 City Limouzine Liquidator

22-01-2011
If Masood ever comes out of Custody he will use all his sources to escape & Once he escapes this time we better kiss our money Good Bye. So folks we just pray that he remains in Jail till we all Investors get our money back.
17-01-2011
For delhi investors only.

i visited eow, qutb instl area and met insp. sher singh. Registered
my complaint there. Post filing my complaint, i got my original papers
verified.
I believe he shall also file an FIR on my behalf in a format available with him.
I have also been asked by him to furnish a certificate from my bank
confirming the name of the beneficiary and the bank in whose favour
cheques issued by me have been honoured.

As per him it shall take around 6-8 months for liquidation and final
disbursal of payments.

Guys we have to be patient with this and keep on praying
========
Mr Vedanth information is an eye openner and informative for all city
investor groups like us. thanks for his efforts to keep informed the
group, it is also very lengthy process, and as u said only 10% might
have been came under Govt Scrutiny, Remaining 90% is big question
mark, people have seen the govt inability in earlier frauds , still
we are not carefull on the investments. Vinivinic Case came to
Disbursment stage almost after 7-8 yrs. that too only for very big
investors, powerfull investors are trying to get back their money, but
what about individual investors fate. it should be watched . Any how
my great salute to vednt for the informations.
=========
12th jan 2011
Its a good observation you've made. Citibank scam of Rs.300 cr occurred only in Gurgaon and has yet managed to grab attention of the entire media across India on a daily basis. City Grp scam of thousands of crores occurred across the country and yet is dying a slow death for the media. Sorry state of affairs I must say.

I guess this is only because Citibank is a global name far bigger is size & brand value than Citi Grp. So obviously the media has much more "masala" to bite on in the former's case. They very well know that people won't change the TV channel if its news of a bank scam because almost 75-80% of the population has a savings account in India but not necessarily this 75-80% invests hard-earned money in a fraud company. Hence majority of people watching the news will jump over to the next channel to find something more interesting. This simply means loss of TRP & revenue for the news channel. Doesn't make any commercial sense for them! General population will simply think of City Grp scam as any other normal scam happening in India.

Makes sense?
8th jan 2011
Dear members,

It just occurred to me after seeing reams in print on the Rs.300 cr
citibank scam. Contrast this with the thousands of crores swindled by
Masood; yet there has hardly been any sensational coverage by the
print or TV media. Other than Mr Unni no other journo even seems to be
bothered about the plight of lakhs of investors. But for the efforts
of Mr Vedant, our group wouldn't have got anywhere close to where we
are today, though there is still a long way before we see a fraction
of what we have invested back in our hands. On the other hand, today's
TOI says that the police have started taking action to attach Mr
Puri's (of the the Citibank scam) properties. Why this step-motherly
attitude by the authorities towards us?
============
Its a good observation you've made. Citibank scam of Rs.300 cr occurred only in Gurgaon and has yet managed to grab attention of the entire media across India on a daily basis. City Grp scam of thousands of crores occurred across the country and yet is dying a slow death for the media. Sorry state of affairs I must say.

I guess this is only because Citibank is a global name far bigger is size & brand value than Citi Grp. So obviously the media has much more "masala" to bite on in the former's case. They very well know that people won't change the TV channel if its news of a bank scam because almost 75-80% of the population has a savings account in India but not necessarily this 75-80% invests hard-earned money in a fraud company. Hence majority of people watching the news will jump over to the next channel to find something more interesting. This simply means loss of TRP & revenue for the news channel. Doesn't make any commercial sense for them! General population will simply think of City Grp scam as any other normal scam happening in India.

Makes sense?

7th jan 2011

City Limo chief will spend a year in jail: Enforcement Directorate

S M Masood, chairman of City Limouzines, will remain in jail for a year over foreign exchange violations, officials of the Enforcement Directorate (ED) told TOI. He has also been accused of duping thousands of small-time investors who put in their savings in his investment schemes that offered 48% returns.

ED, which investigates foreign exchange violations, had probed the company's alleged violations in connection with Rs 300-crore diamond exports to Dubai. Based on these investigations, over a month ago, the Union government detained him under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA). The Act is invoked against those who indulge in smuggling.

Masood will be lodged at Central Jail in Jaipur. ED officials said scrutiny of documents revealed that the buyer in Dubai and the party who has remitted the amount were different. The exports were effected in 2008 and the ED probe revealed that the suppliers of diamonds, as claimed by the company, denied any such transaction. Masood challenged the COFEPOSA order in the Delhi high court but it was dismissed, an ED official said.

Investors across the country have been duped by City Limouzines and its sister concern, City Realcom, promising huge returns on their investments. Investors were promised a return of 48% but in mid-2009, the cheques issued by the company started bouncing leading to panic among investors. Through loans and money collected from investors, the company bought vehicles and gave them on hire. According to the scheme, the investors were offered monthly returns for five years and at the end of the period, the vehicles were given to them.
==========
hello mr. vedant rajput, i saw today times of india, carrying the news article about the conman of the last decade, masood will be in jail for one more year, as previously told by you. i wish that permanently he should be in jail only, as he will have his free food and clothing there, provided by the goverment, again with taxpayers money. masoood is lucky one way. ne need not to earn for his livelihood. first he had our investment money and taken food with that money. now in jail he is again fed by the govt. with our money. what a nice situation. now, let us make one thing clear in this forum. he should not come out of jail, in his lifetime. ensure that.kv.
5th jan 2011
This is to inform everyone that the official liquidator attached to Bombay High Court, Mr. Rama Rao has retired. The person in his place is Mr. Pandian. He will be the one posting the notice for claims now.

Vedant
=========
3rd jan 2011

Filing claims with the Official Liquidator

A lot of you folks are asking the same questions. Please take note of the following points:

1. A detailed check list on how to file a claim for city limouzine, city realcom and city hospitality will be published by the official liquidator in the next few days. 2. There is no urgency to file a claim, however you must file a claim once the notice is posted on the bombay high court website. Please keep checking this link for details:
http://bombayhighcourt.nic.in/site/company/dispnotice.html
3. The claim process will take a very long time. If you are under the assumption, that by filing a claim, you will get your outstanding funds immediately, you are wrong. This process could take more than 5 years.
4. The official liquidator, with the help of investigating agencies has to liquidate all assets of the companies (auction off) and then pay proceeds to the investors, or in this case creditors to the company. As you all know, the amount of Sayed Masood families personal and City Group's corporate assets located in India is negligible to pay even 10% of the outstanding amounts back to investors after liquidation. We are in the process of locating hidden assets overseas and helping authorities in India and abroad with the investigation, so that the investors can get back as much as possible of their tainted investment in this company.
5. Hiring investigators in foreign countries is an extremely time consuming and expensive process which is still being done since we started about 1 year ago. This process will continue and we will keep locating bank accounts, foreign companies, assets disposed off illegally and more by the Masood family. Just today we received new leads from the Bahamas and Costa Rica that we are looking into.
6. The letter rogatory of ED has also been sent to Ministry of External Affairs to start official foreign investigations in the US and a few other countries.
7. Once again, this is a lengthy process but we will put a successful closure on this at some point. I know most of you want your money back today itself, as much as I do, but reality is far from that. Unless we don't fight for our money, we will get nothing. We have seen this for the last 1 year.
So, please do not keep asking the same questions. Any important and useful info will be posted on this group immediately. I am trying to see how investors across India can file claims in Mumbai by post or courier. I am trying to find answers on City Realcom, City Hospitality, City Limouzine and other City company claims as well. You will have answers in the due course. Please be patient and continue to monitor this group for updates.
Hope this update helps.
Vedant

29th Dec 2010
I can only caution investors. Rest is upto them. They have already lost enough, so if they want to blow away more money- who I am to stop them? There are such associations in mumbai, delhi, hyderabad and even in chennai. I have been doing this for over a year now but investors still fall in such traps. What can one do?

Vedant
=============
Dear Vedant,
It has been brought to our notice that few associations are charging 2,500 per file and promising that since they already had deal with official liquidator only those who give that money would get their investment money back.
My friend has 16 files and he was demanded 40,000 Rs/- with above words.I pity the investors(who are already cheated) who still become pray to these promises and giving the money to fill their stomachs and quench their thirst.
It's a serious cheating attempt as SMS to this effect to meet the association member to collect money has already been sent to all the investors here in Hyderabad.Please make a note of this.
Regards,
===========
25th dec 2010
Complaint is for the investigation to continue and prosecute all directors, masood, his wives etc! A liquidator is not going to find assets on his own. Police will have to do the job for him!
23rd dec 2010
So- I strongly suggest, all those who have not filed complaints, to do so at the earliest in your respective city.

Here is the list:
  • Mumbai EOW - Unit 5, Behind Azad Maidan Police Station, Fort. PI Wadhankar 24691377
  • Delhi EOW- , Qutub Institutional Area, New Delhi-110016 PI Sher Singh 26528165 (Geeta Razzaki currently in custody here)
  • Chennai EOW Chennai Economic Offences Wing CID. C 48, II- Avenue, TNHB, 3rd Floor,. Anna Nagar, Chennai-40. NA 04426220332
  • Pune - Police Commissioner's office, near Sadhu Vaswani Chowk, Pune PI Dage 26208346/26122202
  • Jaipur -Vinayakpuri Police station, PI Lo Likhama Ram 9928075080, 9024675080 (Masood currently in custody here)
  • Bangalore- Seshadripuram Police Station, Seshadripuram, Banglaore - 20 PI Manjunath 080-22942586
  • Hyderabad -Premises of DGP office 3rd floor Opposite Ravindra Bharathi Lakidi-ka pool Hyderabad PI Balaji Rao 23212814/23230456
  • Chandigarh - Home Guard Building Sector 17 Chandigarh DSP Baljeet Singh Chadha 2741900- 1420
Vedant.
=========================
==================

Complaints pour in against car rental firm - HT News

The number of complaints in the City Limouzine scam has swelled to over 40,000. The economic offences wing (EOW), which is investigating the case, says the the number of people coming forward is increasing every day. According to an investigator, a Class I civic officer approached the EOW on December 20 after he was told that those affected may get refund of their amount. The prime accused in the case, SM Masood, chairman of the group, has promised the court that he is willing to pay back the due amount.
“The civic official approached us as he believed that this would be true and if he doesn’t lodge his complaint then he may lose out on the money,” an officer said on condition of anonymity, as he is not authorised to speak to the media.
“We are taking every complaint and adding it to the FIR and we are getting fresh complaints frequently even now,” the officer said, adding, “We will file the second supplementary charge sheet in the case in a few days as we have gathered more evidence against the accused.”
Sanjay Saxena, additional commissioner of police, EOW, told Hindustan Times that the investigations were still going on in the case. “We have been feeding in all the complaints, it must have reached 40,000 by now,” he said.
The EOW had arrested Masood on February 4, 2010, from the outskirts of New Delhi. Masood had duped thousands of investors across the country of several crores of rupees by offering returns as high as 48% through several schemes. Two of the popular schemes were operated through City Limouzine and its sister concern City Realcom.
For instance, on an investment of Rs 97,000, the company offered depositors Rs 4,000 every month for five years. The amount collected by the company was to be used to buy Maruti Omnis, which were to be registered in the names of the investors.
The investors were to be paid the profit from the income generated by giving the vehicles on hire. At the end of the five-year period, the vehicles were to be returned to the investors.
However, after a couple of years, the cheques issued by the company started bouncing and the investors were not given their returns.
Masood is currently lodged in Jaipur jail. Five other accused, including his wife, have been arrested in the case.
=======================
22nd dec 2010
I am Investor from Bangalore and we didn't even complain in police station
but On 13/December/2010 a big tragedy occurred in my home like
each and every day we used to curse our self stating what a blunder we did investing in City Realcom, Mumbai Builder.
I lost my Mother on 14th/Dec/2010 at 12.10am she expired due to the heart attack.
the attack is for doctors and others
Actually It created in my Mother is our Investment In City Real and loosing it.
My Mother could not bear my debts, quarrels on roadside, my disturbances.

I never knew i will end up here loosing my great Mother Now I am Orphan

I don't find a way and know there is a way here.

I never know further what and all is awaiting for me to loose.

I deeply curse the City realcom............. Its owners......... Its executors etc.......
Mohammed - BGL
========
My deepest sympathies are with you. Stay strong- do remember one thing. What goes around- comes around and above all- nothing in this world lasts for ever- not even misery!
==============================
21st dec 2010
Shri Vedant ji. Congratulations and happy celebrations to U for
winning the case. Pl. don't leave city realcom investors alone for
taking them their money.We were thinging that the decision is for all
city schemes investors.Help us.
======================
The name of the official liquidator is Mr. Rama Rao. If a claim or a complaint has been filed with EOW's or police stations across India, no new claim with liquidator is necessary at present. There will be a newspaper ad outlining details. This is only for City Limouzine. Status for City Realcom is still the same.

The liquidator will take into consideration all property bought by Masood and the directors with investors funds.

US authorities have updated ED that Chand Masood has disposed off her properties to a shell company from Costa Rica. This development is being currently investigated as well.

They will be liquidated by the official liquidator. All assets attached by EOW and ED will come into the picture. There are a few overseas assets like property and cash with Chand and Jabeen Masood, diamond traders etc which will also be used.

They will not liquidate only city limouzine. They will group all companies and take all assets and liquidate. Does that answer your question?

City Realcom will follow the same fate is my guess and so will all the other City companies.
City Realcom will have to go into liquidation or will be pushed into it by ROC!
vedant
===============
Masood is in Jaipur and Geeta is in Delhi.

Investors across India will be handled by one liquidator, who is Mr. Rama Rao.
Most of you are asking the same questions. The ad will be published in Free Press Journal and Maharashtra Times. It will be posted on this group for everyone to see and take action.
An investor needs to file a similar petition in Mumbai High Court for wind up of City Realcom, City Hospitality, Ryewood Retreat, Kanu Reality, Andes Reality, City Airlines, City Money, Babasaheb Pratishthan etc. All flats, properties etc should be liquidated.
All those of you who have paid money to associations- should tell their leaders to use your money, which they have already taken and file these petitions.
Yes- you can file your complaint at EOW unit 5, behind Azad Maidan Police Station in Mumbai.

=====================
I have recived a SMS from Mathree from Bobay saying that,(Good news for all city Investers,we have wone the case,I have organised a meeting to inform about the further procedure,date and venue of the meetingis mentioned below .Attendeence ic compulsory,Pls get along friends and relatives who have Invested in the Company .Pls Bring your documents,Dt,19-12-2010 Time :2.00-5.00 Add:Arya Hall,Shop.No.6-9,Tambavala marg.Kalachowki.Chinchpokli
20th dec 2010

Madoff investor's widow to return $7.2bn

customers might recover 50% OF THEIR INVESTMENTs

London: THE estate of the late Jeffry Picower, a former investor in Bernard Madoff's Ponzi scheme, has agreed to hand over $7.2 billion.
It is by far the largest amount recovered by Irving Picard, the trustee acting for investors who got burned in Madoff's Ponzi scheme, and brings the total available to his victims to nearly $10b, roughly half the total thought to have been lost by investors. The settlement was arrived at after months of negotiations with lawyers for Picower's estate and the extraordinary intervention of his widow, Barbara, who said that her husband had been "committed to overcoming the devastation resulting from Bernard Madoff's fraud by reaching a fair and generous settlement".
US attorney Preet Bharaba announced that the seized billions would be distributed "as fast as humanly possible." Although 72-year-old Madoff squandered about 65billion dollars on paper, the actual cash losses amounted to about 20billion dollars. The windfall was recovered from the estate of philanthropist Jeffry Picower, who drowned after having a heart attack in the swimming pool of his beach front Palm Beach, Florida mansion in October, 2009.
Picower was a philanthropist and investor who died in 2009 of a heart attack while swimming at his home in Florida. He had been sued by special trustee Irving Picard for more than $7 billion, an amount Picard said represented improper profits taken from Madoff's operation. Federal officials said Picower invested a total of $619 million with Madoff and withdrew $7.8 billion starting in the 1970s until December 2008.
The $7.2billion figure is the estimated amount of bogus profits he drew from his Madoff accounts in the two decades since he first invested with the company. The money was supposedly made from stock trades, but investigators maintain it was simply stolen from other investors.
===============
19th dec 2010
Do not lose your faith to god. Leave all your problems towards him. All work done by him , he explain in Geeta. We are his employee and work according to his direction. Whate ever you did it was definetely his wish to do that job by you. He will look after all these issue. You have to do one thing and just calm and rethink what are the options you have in which you can earn money for your EMI. If you will think deeply round about you definetely there will be solution but you have to search it. Don't talk to sell any part of body to someone for money. God given you beautiful body parts to do good job, not to sell his creation. That much emi is not more , If you see the businessman they have to pay more than that but slowly build your faith and do somebusiness oppurtunityand something work in which you can earn money without investment and fast. God Bless you
10th dec 2010.
Yes Keep trying and there are not just this forums people but many uneducated people are also trapped in this scam. I have seen people like 60-70 yr old age went and gave out there life earning to this guy in exchange of some good money support at such age and this Maniac is responsible for making there life worse at this age.

So when ur doing this thing is not just for yourself but its for social cause.

I am with you people and My profession is Software Developer so if i can help you anything let me know.

Anna Hazare should support us in that case.
============
Let me see what can be done on this angle.
vedant.
============

7th dec 2010
Everyone is asking the same questions again and again- what about pune investorsn hyd investorsn delhi investers etc. Pls note that the liquidator will be for all investors across India.
Vedant.
=============
Mr. Vedant,
Is there a way to contact them? Since we are in delhi and my father
has invested quite an amount. We wants to know how to go about it and
what's the next step. Will we have to come to bombay to get in touch
with the official liquidator?
==========

4th dec 2010
Dear Friends,
Yet no liquidator has been appointed, Once the court appoint the liquidator we all need to submit our docuement copies with the liquidator for the refund process.
First lets see when court is going to appoint liquidator.
PcJain.Bangalore.
=======
3rd dec 2010
Dear Vedant ji, Need your inputs Sir.. Should Bangalore investors contact anybody. I have neither got a letter or any kind of intimation from anybody. I am totally dependent on your advice. Please let me know whats Ramesh saying below. Regards,
======
2nd dec 2010
Dear Investor,
This is with reference to your Grievance ID’s: K-9C1D4006-NTB, K-9C1D3249-NTJ, K-9C1D2643-NTL, K-9C1D1908-NTJ and K-9C1D0832-NTL please note that in the matter of City Limouzines (India) Limited, Registrar of Companies, Mumbai has intimated us that City Limouzines (India) Limited has gone into Liquidation (Prov.) vide High Court order dated 08.10.2010. Investors may contact Official liquidator, High Court, Mumbai at Bank of India Building, 5th Floor, M.G. Road, Fort, Mumbai – 400023.
Regards,
Administrator-Ramesh <rameshktrr@gmail.com>

========
It's not bank,it is under ROC
========

1st dec 2010.
Dear bangalore investers (as per mr suresh muttanna) please come to
mayo hall court mg road bangalore at 10am to 4pm on tomarow for sign
AFDVT FORM and bring your copy of docs with notary expenses for any
further information please call mr suresh muttanna

==========
Dear Delhi Investor of Citylimo,

There will be a hearing on 30 Nov 10 (Tuesday) at 1000 hrs at Patiala House Court, Court Romm No 30 against Citylimouzine. All the accused namely
Masood, Seema and Geeta Razaki may also be present.

The case is under Sec IPC 138 (Fraud & Ceating Case) Cheque bounce case.

Total odd 98 Citylimo investors filed the case and it is a repeated hearing. All those investors of Citylimo are interested kindly attend the same. All are requested to contact Mr Kapil Ahuja for further details. Thanking U all and hope for good news ahead soon.

Thanks.

Bijan
N Delh
i==============
Dear Cityylimo Investors, Here is the current location of the Citylimo culprits :- Masood is currently at Jaipur Jail. Geeta Razaki is in Delhi, EOW custody. Seema will be brought back to Delhi on 30 Nov for hearing. All Delhi investors are requested to attend the hearing at Patiala House Court Room No 30, at 1000hrs as its the case under section IPC-138 (Fraud & ceating) Cheque bounce case. Thanks Bijan N Delhi
===================
Hi, I was totally fed up with 9 banks harassing me for emi's. You dont know what it feels like to have so many pple coming to your door asking for their money and making court cases--without the neighbours knowing--I have managed to do this and even prevented them going to my wife's office and getting her salary attached-the loans are mostly in her name. My close family has given me interest free loans of almost 12 lakhs with which I have managed to settle and now 6 banks remain--my total outstanding in August 2009 was 32 lakhs --today it stands at 15.50 lakhs. In this one horrible year I have sold everything of value to pay the banks back--I have lost interst in EVERYTHING that I used to like, I never smile, I get angry on my wife and kids, I haven't had sex from August 2009!!, etc etc. This is all my stupid fault--I even went to kill my self 3 times , but God pulled me back all 3 times. The pressure on the banks wanting to attach my house and fearing my wife's office wud come to know (shes in a major fin co -in which it is illegal to invest in such schemes)- she cud lose her job, etc--so u see the pressure on my self has just been too much!! That is why i decided to end it all by selling my body parts---but at last the situation has slightly improved and i have (by the grace of my Lord Jesus ) given up that stupid idea. So at least now u can believe me. p.s.How can u say do not pay the banks? Pls give advice on this. Thanks for your concern.
Regards James.
28th nov 2010
This is a very long shot. However I have given the info to Abhimanyu. Lets see what transpires. Masood's extended family from Saudi is in the picture and till this does not stop, Masood will be distributing currency to every police officer that comes his way. The good thing is police will take his money and at the same time not extend any privileges to him, as the police themselves have invested in his tainted company.
Vedant
have filed more than 35 cheque bounce case till date on few companies and one was on a politician as well.I have won
all the cases and recovered my money with interest and lawyer fees.Bank accounts are frozen and there are no other liquid
assets that doesn't mean masood doesn't have any money he must be paying bribe in jail and fees to his lawyers.I have filed
cases before expiry of cheques.my hearing for 9 cases(27 cheques) is on 19/01/2010 and 2 cases(6 cheques) is on 23/02/2010.
cheque bounce case take few time but i think bounced cheque amount can be recovered.The only help my lawyer need is masood
current location.He said if we can tell his current location to court then court will send saman to that particular jail and
its necessary for police to present him in court.can Anyone tell me his current location ??
you can call me as well for any information.

--
Thanks & Regards
Abhimanyu Singh
========
Abhimanyu,

Please called PI Likhama Ram in Vidhayakpuri Police Station in Jaipur at 9928075080, 9024675080. Masood is currently in custody there. Call soon, as he will be arrested by ED in the next few days and taken to Mumbai.
If you need Geeta Razzaki, she is with Delhi EOW.
I hope this helps.
Vedant
======
Mr Murty
Hello dear
I have gone through the full details of papers provided by one
investor from Hyderabad. I have already written on the subject just 5
or 6 days before. on CP 234 of 2010 which was posted for hearing
26/11/2010.

Dear only Provisional Liquidator was appointed in that order dated
8/10/2010. I have put full order copy also.
What you mean Provisional Liquidator:
A provisional liquidator may be appointed after a petition to
'wind-up' a company has been presented to the court. This may be
because there is concern that assets are at risk or because it is not
in the 'public interest' for the company to continue trading. The
assets and potential creditors are therefore protected until the court
hears the winding-up petition. Alternatively, a provisional liquidator
may be appointed to preserve a business until its financial affairs
can be brought into order. The provisional liquidator will carry out
duties as set out in the court's order in dealing with the company's
assets and affairs.

It is a First Stage only It can fall also if Application on which it
is made is not succeed.
Duties of the Official Receiver as Provisional Liquidator
During a provisional liquidation the Official Receiver carries out
duties as set out in the court order. These duties vary depending on
the company concerned but they usually involve:
• Protecting assets
• Safeguarding the company's records
• Investigating the company's affairs only in so far as it is
necessary to discover, protect and recover assets

What will happen if the Petition to put the Company in Liquidation has
been Dismissed:
The company will be returned to the control of the Director(s). All
property will be returned to the trading premises and any assets that
were being held by the Official Receiver will be released back to the
company.

So it is too early to say any thing, It is only Provisional Liquidator
not the Official liquidator, when any application for liquidation is
before High court , It is duty of High Court after hearing the matter
to appoint Provisional Liquidator to protect the interest of Investors
and Company assets from misused so they appoint provisional
Liquidator.
rest what people are doing in some cities that is their own thinking.
What is outcome of CP 234 of 2010 anybody who attended Court Today at
Mumbai high court can putup.

Thanks
Dr Zulfiqar Ali Khan
Advocate
High Court of Madras
======
26th nov 2010
Please do not pay anyone a penny. Human Rights cannot do anything in this case.
vedant
==========
Dear Mr. Vedantji,

In Bangalore one Mr. Muttanna has conducted meeting of all the investors in Bangalore on all the three preceeding Sundays and has suggested that we should again lodge complaint with the police though I have lodged in the month of April and have an acknowledgement from the police. Also a sum of Rs.200/- was charged for lodging the complaint through Human rights people over and a sum of Rs.100/- which was contributed on 7th of this month. To I received a SMS asking us to submit again all the papers with another sum of Rs.300/- towards the expenses per file so that the notarised application in the format received by him from Mumbai can be submitted. It is very unfortunate on my part that I have retired over 9 years and what ever life time savings of my family members including my old mother, sisters and other relatives were gradually brought to Citi over a period of three years. We all of are in great touble. For The present I Cannot afford to pay
Rs.300/- per file. Will you please throw some light on this issue immediately. The deadline for filling up the notarized format is today. Please comment on this subject immediately. Thanks.

(P.V.R. MURTY)
25th nov 2010
Dear Vedant,
got a mail from this association forwarding it to you see if it is any help to members, this association also wanted to coordinate with youpradeep nambiar









INVESTORS AND CONSUMER GUIDANCE SOCIETY
BJP OFFICE, KALINA CHOWK, KALINA, MUMBAI-29

DATED 22/11/10

To To
Cuffe Parade Police stn Azad Maidan Police Stn
Mumbai Mumbai

Sub: Gherao of Governor RBI and registrar of companies-Regional Director, Chairman SEBI on 30/11/10 at 3 pm

DEAR SIR,
1000'S OF INVESTORS WILL GHERAO GOVERNOR, RBI HQ, Registrar of companies, Regional Director and Chairman SEBI, ON 30/11/10 AT 3 PM, FAILURE OF RBI TO TAKE ACTION INSPITE OF REPEATED COMPLAINTS OF INVESTORS OF ILLEGAL DEPOSIT MOBILISATION BY VARIOUS COMPANIES .

EVERY DAY IN THE NEWSPAPERS WE HEAR OF COMPANIES CLOSING DOWN


1] City Limouzine-
2] Metro Cruize line
3] Aims Limouzine
4] Naik Ventures
5] Sigma
6] Aurum
7] Om Shri Sainath
8] Symbiosis
9] UNIQUE FINANCE
10] ARYARUP TOURISM AND CLUB RESORT
we would also highlight the complaints brought to your office fraud amounting to 1000's of crores

1] Sahara Group- even now doing illegal deposit mobilization to the tune of 1000's of crores - real estate bonds, housing bonds, fixed deposits, etc which matures beyond June,30 2011, even when Sahara India Finance is an RNBC registered with RBI and collecting illegal deposits in the name of other Group Companies believing the depositors to believe that they have RBI permissions as RNBC/NBFC ........... complaint with documents submitted in RBI on 15th Oct' 2010

2] Pearls Group -PACL doing illegal deposit mobilisation under the guise of selling agricultural land......... complaints with documents submitted to RBI on 15th Oct'2010

3] Pancard Club Ltd doing illegal deposit mobilization under the guise of selling room nights........ Complaint with documents submitted to RBI on 30th Sept' 2010

the above list is not exhaustive, there are around more than 25 companies that have closed down this year and investors have lost around 1000's of crores of their hard earned money. More than 50% of the investors form the most poorest of poor. All livelihood have been lost and they are reduced to penury.
A] We request that the CGM -DNBS take up the matter with Governor/ Vigilance/ CBI anti corruption as to how the name of the office bearer has been leaked to Pancard club Ltd, or 1000's of investors would protest outside RBI at a given date.
We wish to state the following
1] Complaints have come to the cell that Pancard club Ltd is indulging in illegal deposit mobilization running to the tune of 1000's of crores .
2] Matter was brought to the notice of RBI
3] CELL was asked to follow up with Mr Raj Gopalan GM- regional office-RBI
4] GM- Mr Raj Gopal informed the Cell that EOW Mumbai has been asked to investigate.
5] Subsequently an RTI was filed to get all copies concerning Pancard club ltd with RBI.
we request you to immediately take cognizance of the offence of leakage of names to the said company.
B] We would draw to your attention that investors have suffered a lot because of the indifference of concerned authorities where illegal deposit mobilization is concerned
1] City Limouzine-
2] Metro Cruize line
3] Aims Limouzine
4] Naik Ventures
5] Sigma
6] Aurum
7] Om Shri Sainath
8] Symbiosis
9] Unique finance
10] Aryarup tourism and club resorts
we would also highlight the complaints brought to your office fraud amounting to 1000's of crores

1] Sahara Group- even now doing illegal deposit mobilization to the tune of 1000's of crores - real estate bonds, fixed deposits, housing bonds etc which matures beyond June,30 2011, even when Sahara India Finance is an RNBC registered with RBI and collecting illegal deposits in the name of other Group Companies believing the depositors to believe that they have RBI permissions as RNBC/NBFC ........... complaint with documents submitted in RBI on 15th Oct' 2010

2] Pearls Group -PACL doing illegal deposit mobilisation under the guise of selling agricultural land......... complaints with documents submitted to RBI on 15th Oct'2010

3] Pancard Club Ltd doing illegal deposit mobilization under the guise of selling room nights........ Complaint with documents submitted to RBI on 30th Sept' 2010

the above list is not exhaustive, there are around more than 25 companies that have closed down this year and investors have lost around 1000's of crores of their hard earned money. More than 50% of the investors form the most poorest of poor. All livelihood have been lost and they are reduced to penury.
All this when RBI could have taken cognizance of illegal deposit mobilization and could have informed the concerned State officials to take penal action against such companies.
The RBI -DNBS itself portrays what should be done to protect the small and gullible investors. most of the agents of these companies who do deposit mobilization claim that they have got RBI and SEBI approvals. Even when the investors have brought it to the notice of the RBI. The RBI has failed to protect the investors or take appropriate actions against such companies.
C] We would draw your attention to the following powers drawn by RBI
Regulatory and Supervisory Framework
The RBI Act as amended in January 1997 provides for, among other things,
· Entry norms for Non-Banking Financial Companies (NBFCs) and prohibition of deposit acceptance by unincorporated bodies with some exceptions
· Powers of the Bank to issue asset side regulations
· Compulsory registration, maintenance of liquid assets and reserve fund
· Directions on acceptance of deposits and prudential regulation
· Comprehensive regulation of deposit taking NBFCs
· Punitive action like cancellation of Certificate of Registration, prohibition from acceptance of deposits and alienation of assets, filing criminal complaints and winding up petitions in extreme cases, appointment of RBI observers in certain cases
Developmental Activities
· Co-ordination with State Governments for State Legislations to curb unauthorised and fraudulent activities in this sector
· Publicity for depositors' education and awareness, workshops / seminars of trade and industry organizations, depositors' associations
· Informal Advisory Group as an aid to decision making
· Promotion of Self-Regulatory Organization (SRO) of NBFCs
· Training programmes for personnel of NBFCs, State Governments and Police Officials

shocking to mention that RBI -DNBS has failed to correct , coordinate implement all the inherent power it draws to protect the rights of the investors

It has not even informed the state Police-EOW etc, failed to warn the depositors through the media nor taken deterrent steps to penalize the fraudulent companies , nor formulate and initiate the winding up operations of such fraudulent companies.



request you to immediately act failing which the 1000's of investors would resort protest outside RBI HQ SHORTLY on 30/11/10 at 3 pm



Anil Upadhyay Pappu singh
9322295889 9987335159

cc…………… GOVERNOR , RBI
CC…… EOW


18th nov 2010
I live in Buffalo, NY. My brother invested in Delhi. I have given 3 interviews with USA Today and they are most likely carrying the story about this ponzi scheme on Friday or the weekend edition. I will post a link when its published. I have also received your phone number and will call this evening regarding Fin Agency. I also plan to visit the Buffalo F B I Field office and file an official report against the Miami company and Masood's family in this country. We need to kick them out of here.
17th nov 2010
What good will building online reputation do for her? Instead of coming out clean, she is using every possible tactic to clear her name. What better way that to call herself a yoga enthusiast. By the way, where are you based?
Just yesterday I received a call from Agency about this and I have provided them with all the information on this family including the names of Eagle Softwares etc which feeded black commissions to Chand Masood. They wanted to know if there were more US investors and I gave them a list of about 35 people. They are going to take video statements from all local investors, so you can certainly help. Let me know if you are from the US.
Vedant
12th nov 2010
No separate official liquidator will be appointed for any city
Investors. Mumbai official Liquidator will only deal this matter if
any appointed by High Court of Mumbai , It is not yet confirmed
whether Official liquidator appointed or not.
Thanks
Dr Zulfiqar Ali Khan
=========
People who have filed complaints with ROC are receiving the letters. I am trying to get in touch with the appropriate person to get details.

If the company is in liquidation, media should have picked up this info.
Vedant.
==========
This letter has been sent to many investors, especially those from this group who filed complaints with ROC.

I am trying to figure out the next course of action. I know that ROC is working on starting a legal action against the company and its directors.
vedant
==========
Shri vedant ji,

As we are hearing Company liquidatior being fixed and some persons
receiving intimation to contact the said liquidator for submission of
documents.I am investor from Delhi.In such situation what should be
the action taken by delhi investors.Whether a seperate representative
of company liquidator will be appointed for Delhi investor. I shall be
thankful if clarity is given on the issue for further actiob by
investors of delhi.

Regards,

5 comments:

  1. Dear Investor ,
    Beware from Some People Targeting to Who Had invest in City Limouzine ( Their Say We are from Economic Offense Department) what to refund your Money & Demanding Commission Money,
    They Say we are from Army People His Name Is Colonel.Sanjeev Ahuja His Mobile No is 09748834799. fisrt He will do A friendships with You & He will play With Your Emotion & Demant Money
    There Work in Group
    Plz Forward To your Friends & relative Ho Had Loss Money In City Limouzine
    For More Feel free to Call or Mail Me
    Harvinder Singh
    9223445653
    harvvinder@gamil.com

    ReplyDelete
  2. Hi,

    Can someone give me the name and address of official liquidators to whom form 66 can be sent

    Ram

    ReplyDelete
  3. Dear Vedant,

    Is there any latest update on refund process, Where should delhi investor submit request/document to liquidator for refund process?

    Thanks,
    -Rishi

    ReplyDelete
  4. Dear Vedant Sir,

    I have City realcom files. Shall i file the claim??

    How do i send my claim?? By post or personally??

    Please do reply fast. I am waiting...

    Email -- sridharbhoga@gmail.com



    Regards

    ReplyDelete
  5. Sir
    Is there any latest update on refund process, Where should delhi investor submit request/document to liquidator for refund process?

    Prasana Kumar
    9810412738
    E-mail: prasanaindia@gmail.com

    ReplyDelete

Search here anything you like

Loading...