SUGGESTED PROCEDURE FOR FILING CITY REALCOM CLAIM WITH LIQUIDATOR.
Only one claim per individual, irrespective of the number of files (of investments) may be filed. So a consolidated claim for all the investments in City Realcom Ltd. needs to be made. This should be filed in the prescribed format to the Liquidator appointed by Court, to qualify for any final settlement in favour of the investors by the Court. Please note if no Claim is lodged with the Official Liquidator, then no share of such investor in the final outcome of the settlement/official winding up of the Co., will be entertained later since such investor will not be considered an official creditor of City Realcom Ltd.
I will take the example of a Combo Scheme case and explain the procedure, as below:
FOR FILING CLAIM IN RESPECT OF CITY REALCOM LTD.
1. You have been issued 3 Receipts in respect of the Combo Scheme. 1st receipt is from City Limouzines (India) Ltd., 2nd Receipt is from City Realcom Ltd. and the 3rd Receipt is from City Co-Operative Credit Society Ltd. Take the value of City Realcom Ltd. receipt only for filing claim with City Realcom Ltd.
2. Fill in the file No. in column "B" of Exhibit - A forming part of Form No. 66.
3. Fill in File date in column "C"
4. Fill in the City Realcom Ltd. receipt number & date in column "D".
5. Fill in the City Realcom Ltd. receipt amount in column "E".
6. Take your copy of the Agreement on Stamp Paper of City Realcom Ltd. The details of payout are given in Annexure 'A' attached with the City Realcom Ltd. agreement. The payout amounts are increasing every year. For an example, In the Combo scheme dated 17.4.2008, the yearly payouts are as under:
1ST year – Rs. 8374/- P.M.
2ND year – Rs. 8695/- P.M.
3RD year – Rs. 9048/- P.M.
4TH year – Rs. 9437/- P.M.
5TH year – Rs. 9864/- P.M.
The totals of all payments adds upto Rs. 5,45,016/- This figure should be filled in column "F".
NOTE: The above figures are for a typical Combo scheme dated 17.4.2008. The payout amounts may vary from file to file as revisions were made by the Company from time to time. So please take the individual figures from your agreement documents.
7. Consider only payments received by you from City Realcom Ltd. account using City Realcom Ltd. cheque book.
8. Take a total of all the cheques received from City Realcom Ltd. account using City Realcom Ltd. cheque book. That is the amount paid by City Realcom Ltd. to us. Fill this amount in column "G".
NOTE: I have not received even a single cheque from City Realcom Ltd. Cheque book. So the payments received by me from City Realcom Ltd. are zero. Please check up your records before filling this information.
9. Add amounts in column "E" & column "F" and subtract the amount from column "G" and fill the result in column "H".
10. Form No. 66 should have an appropriate court fee stamp affixed on the top and it needs to be Notarized by Govt. appointed Notary Public. Form 66 can be on white legal size paper. Don't forget to attach Exhibit – A forming part of Form No. 66 with Notary Public seal.
11. Attach photocopies of all City Realcom Ltd. receipts entered by you in column "D" of Exhibit-A which forms part of attachment with Form No. 66.
12. Form No. 66 (partly filled) with Exhibit-A is attached with this mail. In case you cannot see the attachments here, please go to the following link and follow the steps. You will be directed to a page where you can see and download all the attachments.
13. Address a letter to the Liquidator enclosing the original as well as photocopy of Form 66 and Exhibit-A (Draft of covering letter attached) requesting the Liquidator to return the photocopy of Form 66 together with Exhibit - A as proof of receipt. Please enclose a stamped self-addressed envelope for this purpose.
14. The attachments with this document are (a) Procedure for filing claim with Liquidator in word format, (b) Form No. 66 with Exhibit-A in word format, (c) Exhibit-A in Excel format for ease of preparing your statement, (d) Covering letter in word format.
All the above documents can be sent by Registered Post Acknowledgement Due/ Speed Post (keep all receipts with you as proof of dispatch) or through Courier (obtain delivery proof ) to:
(City Realcom Ltd.)
High Court, Mumbai,
5th Floor, Bank of India Building,
Mahatma Gandhi Road, Fort,
Mumbai – 400023.
When and if you receive the acknowledgement from Liquidator's office, please keep that receipt very carefully along with all original documents.
I HAVE PREPARED THE ABOVE INSTRUCTIONS AS A MATTER OF SOCIAL SERVICE FOR THE BENEFIT OF THE UNFORTUNATE INVESTORS, INCLUDING MYSELF.
I TAKE NO RESPONSIBILITY FOR THE CORRECTNESS OR OTHERWISE OF THE ABOVE PROCEDURE. HOWEVER, I MAY MENTION HERE THAT I INTENT TO FOLLOW THE ABOVE PROCEDURE MYSELF. YOU ARE REQUESTED TO USE YOUR OWN JUDGEMENT AND DISCRETION WHILE FILING THE DOCUMENTS. PLEASE CONSULT YOUR LEGAL ADVISOR/CA FOR FURTHER CLARIFICATIONS AND ADVICE.PLEASE KEEP FOLLOWING THE GOOGLE GROUPS FORUM FOR MORE DETAILS.