PTI | 10:06 PM,Jun 22,2011
The Bombay High court today came down heavily on the city police and asked the Maharashtra government what action was being taken against 12 of the 13 accused who were absconding in the City Limouzines fraud case. "We have a serious grouse about arrests. People are being informed that they are going to be arrested so that they can run away. Don't say that you (police) cannot arrest these people," Justice Ranjana Desai of a division bench remarked. A criminal PIL was filed by the City Group Investors Association (CGIA) seeking action against Cuffe Parade-based company, City Limouzines (India) Ltd, accused of defrauding people by making them invest for a car in return. About 1700 members of the Association have invested at least Rs 2 lakh each on an average, in the scheme, said President of the CGIA Zainab Shaikh. CGIA lawyer Mubin Solkar pleaded that the state government should attach the properties owned by the company to recover the money of the investors. The firm owned 25 properties across Maharashtra, the CGIA members said. The only person arrested by the police is the chairman of the company Sayed Massod Jamadar, while 12 others accused are absconding. The court summoned Nagpada police officers and asked them to file an affidavit on the progress of investigations in two weeks. However, the court said it would appreciate if police arrested the absconding accused within this period. As per the scheme floated by the allegedly fraudulent company in 2007-08, each investor was made to pay Rs 97,907 and a Maruti Omni was promised to be purchased under his/her name. Although the vehicle would be handed over to the investor only after five years, he/she would earn a fixed sum of Rs 4,000 every month as the vehicle would be rented out by City Limouzines until the five year period was over.
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