Monday, March 26, 2012

Update for liquidation of City Realcom Ltd

i m from mumbai and as soon as i heard about the liquidation i went to the official liquidator's office but still they hav not yet started collecting papers as they are waiting for the orders from the court.


Thanks for the information. Please update on this group as soon as the official Liquidator starts accepting the claim forms, as this will help the investors to send the claim forms accordingly.

Thanks & Obliged,


I will post the procudure to be followed in respect of City Realcom Ltd. in a couple of days.
The clarifications in respect of this mail are as under:
1. Court fee stamp or stamp paper can be purchased from anywhere in India.
2. Any person appointed as "Notary Public" by the Govt. of India can notarize the documents from any part of India.
3. There is some confusion regarding the value of court fee stamps or stamp paper. The figures of Rs. 5, Rs. 10 and Rs. 20 are floating around. Please confirm the same from the Notary Public who is going to notarize your documents. in case of any doubt, fix Rs. 20 court fee stamps to be on the safe side.

Please avoid writing to me directly as I may not be able to acknowledge/reply to all the mails coming to my mail box. I will keep in touch through these columns whenever necessary.

Dear Investors of City Realcom Ltd
I am happy to inform you all that Order for winding up of City Realcom Ltd has been passed by Hon,ble High Court of Mumbai. on 09/03/2012, You can submit your claims to official liquidator.

                                                                 1                                                      79.cp-326-10
M/s. Sureshot Advertising. ..Petitioner.
City Realcom Limited. ..Respondent.
Mr. Milind K. Kadam, i/b. Ashoka Law Firm, for Petitioner.
None for Respondent.
DATE     :­ 9TH MARCH, 2012.
The above Company Petition was admitted by an order passed by this Court dated 28th   October 2010.  In paragraph 4 of the said order, it is recorded that “It is clear that the Defendant has abandoned its registered office and therefore the statutory notice as  well as the copy   of   the   Petition   is   returned   to   the   Petitioner   with   the   postal endorsement ‘unclaimed’.   The claim of the Petitioner   has remained
uncontroverted by the Company.   It is, therefore, established that an amount of Rs. 24,70,738/­ is due and payable by the Company to the Petitioner.  The Company Petition is therefore admitted.”

2. The   notice   sought   to   be   served   under   Rule   28   of   the Companies (Court) Rules, 1959 is also returned unclaimed.   None appear  for  the  Company even  at  this  stage though  the  Company Petition has  been advertised as  can be seen from the Affidavit  of Publication   dated   10 th   January   2011.     The   Company   Petition   is therefore allowed in terms of prayer clauses (a) and (b).

                                                                                               [ S.J.KATHAWALLA, J. ]

       ORDER in CP.235 of 2010                                                          1                                                    


Avinash Parshuram Jagtap. ..Petitioner.
City Realcom Limited. ..Respondent.
Mr. A. Davar, i/b. Mulani & Co., for Petitioner.
None for Respondent.
MARCH, 2012.
Since the Company is already wound up by an order of this Court in Company Petition No. 326 of 2010, the Petitioner shall file their claim before the Official Liquidator and get the same adjudicated. The Company Petition is accordingly disposed of.
                                                                                      [ S.J.KATHAWALLA, J. ]

So Now all City realcom investors can file their claims before official liquidator.
It is a very good news for the investors.  All the Realcom investors should start filing the claims with the Official Liquidator.  The investments made in City Hospitality and City Credit Co-op Society is to be decided.
previously we used to get information regarding cases what happened and next date information. but who organised this forum is not up dating any thing, i could not understand this why they are not updating about latest case position.

previously we used to get altest 10 to 15 mail for same, but now a days there is no information about city cases,

may be founder of this forum is lost hope or may be masood return his amount and ask him to keep quite and not do any thing about this case, may be i am not correct this statement but i lost my whole life saving in city limouzine due to this i am writing that statement.

but we have to think for same why no one is giving information about cases???? , why they are mom???? ,  why mr.puri and other members not pass on information????????????   are they lost hope ?????????? or masood retuned them invested amount so they are not involved ?????????????

if any one have latest information, pl. inform 
though i have  seen all the thing which happened.  Now no
investor is interested to fight any case, you are asking so much, you
tell me are you ready to file and contest the case. I am sure no.
Whatever cases were there for winding up not listed before High Court
from Sep 2011. Mostly they are settled under table.  I can not say
about settlement but some mumbai investors are settled that may be i
also heared but not sure. Now  nobody interest to fight if you are
interested, i will support you. If not then waite and watch for any
mircle. Though i am not interested in any mail replying nowadays. But
you have written such good mail some action may come . So replied
you are right in saying that most
of us are interested in knowing the latest status of cases only,no one
want to contest the case and want to present himself on the said
date.As far  as mumbai investors are concerned there must be
undertable settlements therefore they are not participting
actively.Thanks for your timely comments on the subject.
Thanks  for the mail in this group after very very long time now. Each one of us have lost their life's earning in City Group & are finding them self's helpless. Thanks once again to bring this issue to life again. Everybody needs their earned money back but are waiting for some miracles to happen. No one wants to spending time & money to get their money back hence are very reluctant about to file a case.
Moreover the main culprits are out & free by bribing our corrupt officials, thanks to these corrupt offcials because of them we are far from getting any Justice.
If some group of people from Mumbai in this Group are ready to file a case, Iam ready to join with them.
Just saying that we are ready to fight is not enough.
We have to get a proper Company Lawyer from Mumbai High Court who is aware of handling such case & that to very soon, as we have already lost considerate amount of time.
Why You people want to depend on Mumbai Investors. If your own city
Investors can come Together and ready to  Join and spend money after
contribution and talk to any Company lawyer of Mumbai High Court and
Put up a case for winding up by opening an association through an
association not by any individual name and attach the name of all of
your association memebrs  investors as one copy with petition of
winding up itself.
This refers to the undermentioned mail posted by you on the Google Groups Forum.  Although it is addressed to you, but it is meant for all the thousands of Investors all over India and abroad.
I had been contributing in a small way by putting together all the information which I would get from (i) Google Groups Forum (ii) from various Newspapers and (iii) from  Mr. Vedant Lohia alias Manohar.  I had, on my own, contacted a few advocates in New Delhi and prepared the procedure to be followed for filing our claims before the Official Liquidator. This I had posted on the Google Groups Forum as well as sent it to all the investors who had given their email addresses to me. I had also organized a few interviews in Newspapers as well as TV Media to highlight the issue for the Government agencies to act swiftly.
I have already filed mine as well as my family members claim with the Official Liquidator and received acknowledgement as I had enclosed an extra copy of my claim form covering letter along with self-addressed  and stamped envelope. I had mentioned this in the procedure to be followed and posted on Google Groups Forum a few times and those who have followed this procedure, must have received acknowledgement like me.
I am not aware of anyone having received any settlement under the table from City Group. However, these rumours have reached me but no one has been able to identify any one who has received any money under the table. I for one, have not received even a single new paisa from City Group or anyone else, but spent considerable amount of time and money just to ensure justice to all the investors.
It appears that no one is coming forward from Mumbai to form a group and file Winding-up proceedings against the other group companies of City Group. May I take the liberty of Proposing that Dr. Zulfiqar Ali Khan, Advocate practicing in Chennai High Court take the lead to form an Association on behalf of all the investors. The technicalities of forming the Association and funds to be collected can be worked out by him along with other local investors. If you agree with my suggestion, please endorse the same by posting your comments on the Google Groups forum and let us take this fight forward.
With prayers to the almighty to make the Government realize the suffering of thousands of investors and relieve them of their misery by taking quick action.
Proposing my name for forming an association is not a problem. It can
be  opened and registered but very big question is support and money.
I  contested as implead petitioner in 13 cases before High Court of
Madras and filed my objection on 14 Aug 2009 before High Court of
Mumbai in the form of an affidavit for arrangement of Scheme. Spend
more than my investment as an Advocate of High Court.

Another thing I do not have that much free time  from my profession .
that I can divert for this cause.
Any legal support required in the form of papers or advice required .
I am available. If Jurisdiction would have been in Chennai. Long back
I would have filed for winding up. I am always saying I am ready to
support for the cause but not to lead and not to involve in the
affairs of the city Investors Associations.
i lost my all whole life investment, and there is no response and no other investor statement so i felt very bad that we forgotten our money masood can't digest that amount like me there is so many investor is there they lost every thing. we should come again and fight again with full energy and enthusiasm.

i request to all investor they should combine to gather and fight again.

1 comment:

  1. Hello,

    Any progress or updates on City Limouzines & City Realcom court cases???

    Please share with all the investors too.


    Kishor Prabhu


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