Sunday, April 8, 2012

Update for City realcom

Dear Sir,
I have invested Rs.128100/- in City Realcom and monthly payment of Rs.
8800/-. i got this amount two months only.
I invested on 05/06/2009.
i have receipt of 96000/- and 32010/-
and the agreement amount of Rs.528000/ -
i also invested in city hospitalizes Rs.60000/-
what should i have to do for my claim
first i lived in chennai and now i am working in Ramanathapuram.
what address should have mention now.
please clarify me a doubts.


Hello Investors
You can claim Co-operative society money not City Hospitalties. in my personal view. Though I have not concerned with City Hospitalties then also I wrote very Big mail on this City Hospitalties, This company is alive and submitted its balance sheet before Registar of Bhopal in June 2011. It is individaul choice there is no official order for City Hospitalties and City Co-operative society. I will say only for City Cc- operative society money to claim. It is my personal opinion, 


I was given cheques of Rs 8374/- for Combo scheme for 1st year. In my Agreement dated 22nd September 2008 the yearly payouts 
 shows as under:

a) The tentative owner is eligible for compensation/benefit from the owner Rs. 3210 for 1st year, Rs. 3531 for 2nd year, rs. 3884 for 3rd year, Rs.4273 for 4th year and Rs. 4700 for 5th year per month against the memmorandom of understanding.
b) The tentatvive owner shall also receive Rs. 3497 toward yearly profit of preference shares, redemption of preference shares and FD for the period of contract.
i.e 6707 for 1st year, 7028 for 2nd year, 7381 for 3rd year, 7770 for 4th year, 8197 for 5th year

How should I calculate my agreement amount when I was given cheques of Rs. 8374/- for 1st year .
The procedures has already been explained by Mr Ravi Puri-ji alongwith the four attachment in his mail earlier and follow the same.
  I have also posted mail the procedures for claiming of City Realcom amount invested by you. Also U can add the money invested with City-Coperative Society and City Hospitality alongwith Cityrealcom claim in  Form No 66, alongwith the full agreement amount.
  You can fill the details in Exhibit "A, also attested the same Exhibit A with Rs 5/- stamp from the NOTARY and send the form - 66 with the exhibit A in coverning note by registered post with acknowledgement due slip to the Official Liquidator at Mumbai address.
Drar Investors of City Realcom,
   All investors of India from any city can claim Cityrealcom to the Official Liquidator appointed at Mumbai. The Procedures have already been elaborated in the previous mail posted by various person in this group.
   Thanks and wish U ppl very good luck.
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.
In the procedure outlined by me earlier, the value of the Preferential Shares have already been taken while calculating the amount payable by the Company. Please read page VI of the Realcom Agreement where it says that the value of the shares is being paid on monthly basis and the shares stand redeemed as on ....  (date of final payment of last cheque - 5 years from the date of agreement)
You need not to fill company application no., You have to fill only company petition no . 326 of 2010

viz Order dated 9th March 2012.

Company application no is miscellaneous number which is to be put up by Court if required.
Rest you confirm from official liquidator office before submitting whether they receiving the claims for City Realcom Ltd.
I just came to know that  official liquidator clears the debts to Secured first (like Banks, financial instutuions where the company's papers, securities are mortgaged )then to unsecured debtors. and we inverstors does not fall under secured debtors category.
Secondly, Official liquidator send Notice to the debtors or it is published in a Newspaper. Did anybody find any notice.

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