City Limouzines(India)Ltd
I. Gist of the Case: -
On 19.09.2009 one Tmt. Subulakshmi, F/Age.49, W/o. Sambandam, Manapakkam, Chennai -116 presented a petition to the Commissioner of Police, Chennai alleging that she had deposited a sum of Rs. 4, 20, 000/- in City Real Com and the cheques issued by the company had bounced from the month of August 2009. She further stated that having believed the advertisements given by this company, about 35, 000 depositors had deposited money to tune of Rs.735 crores with the company. In this connection, a case in CCB Cr.No.456/09, u/s. 409, 420 IPC and Sec.5 of TNPID Act was registered. As per the proceedings of the Director General of Police in Rc.No.159733/Crime I(1)/09, dated 22.09.09, this case was transferred to Economic Offences Wing and the same was re-registered in Economic Offences Wing-II Cr.No.2/09, u/s. 409, 420 IPC and Sec.5 of TNPID Act and taken up for investigation on 23.09.2009.
II. Accused Details: -
Accused Arrested
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1.
Syed Mohammed Masood
2.
Geetha Umar Razakki
3.
Mohammed
III. High Lights:-
1.Cr.No, 2/09 u/s 409, 420 IPC r/w 5 of TNPID Act
2.Total amount involved: Rs.735 Crores
3.Total No. of depositors: Rs.35000
4.Police complaints: 5357 depositors
5.Amount involved in Police complaints: Rs.59 Crores.
6.Amount settled: Nil
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IV. Efforts taken by EOW-II:-
1. Proposal for Ad-interim attachment of Rs.74, 98, 31, 400.99 was sent to Government on 25.01.2011 and is pending in the Law Department.
V. Details of Property: -
1. 18 immovable properties worth about Rs. 31 Crores
2. Cash Rs.5, 000/- is available with DRO.
3. Freezed 11 banks amount Rs. 74 crores
4. Movable properties worth Rs. 3, 61, 370/-
VI. Latest Development:== -==
The Hon’ble High Court in Mumbai has passed orders of liquidation of City Limouzines(India)Ltd High Court of Bombay in Company winding petition No.234/10 winding ordered dated 03.12.2011. Official Liquidator /Mumbai Dr. T. Pandian, dated 01.10.2010.Investors can contact the Liquidators office at Official Liquidator(attached to High Court of Mumbai) bank of India Building, 5th Floor, M.G. Road, Mumbai-400 023 Ph.No.022-22671851