Since last few days now we have talked only about the possible worst outcome of the investigation. Which in nutshell is we all will lose the remaining portion of our investments.
My relatives from Mumbai spoke to a senior executive from city limouzine. It is correct that not all city accounts are frozen. just as a precautionary measure they have put a stop payment on them (again we argue on the necessity of doing this).
The investigation authority have frozen some and not all of city accounts. so the information that we had that the govenment have not frozen city accounts to a certain degree is correct. Now according to government laws any company cannot collect unlimited cash to sell their products. There is an upper limit to it. since city limouzine went way up above that limit, they need certain licenses. So this is one more reason why the accounts are still frozen.
Again I can fill you with lot of informations and again there will be a long chain of emails debating about the authenticity of the details. I think the only thing that is going to satisfy us is when can we deposit our checks. I have realised one thing that we in current state cannot do much than having a positive hope (as we all know the worst case). If the company had any criminal motives they would have packed their bags already, no need to go through all this because they know that nothing is going to satisfy investors as a very soothing reason to close the company.
Even after all this media speculation there is no proven charge on city limouzine. It is now more than a month and they cannot even make allegations of any wrong doings by the company. All they have put is the current cheaque bounce episode in a bit negative tone. All the city offices except the one in Delhi are open. I don’t think a bunch of excited people on this blog can even put a dent in the company. Don’t forget we are investors. Just like buying stocks of a company.
If you read the agreement we are treated as stock holders. The company has no need to appease us. Just like we enjoy getting returns we have to share any loses. Still they are entertaining our phone calls means we can still have hope and that is the only thing we can have.I believe that there is still hope. Again to all those who will label me as a city employee. I am in USA. Manohar has spoken to me on USA number.