As mentioned in my first review, I visited Recovery Agent’s office and met the agent two weeks ago.(for any help pl email dineshca@in.com) Following are the main points of discussion:
1) He confirmed that there are 99% chances of recovery and 1% chance of no recovery
2) He will charge Rs. 50, 000 initially before start of work. This is based on amount of outstanding dues. My dues are Rs. 8-9 lacs.
3) total fees would be Rs. 1 lac including first 50 K as above. Balance 50 K on recovery.
4) It will take about 2-3 months to recover amount.
5) Person seems to be genuine.
6) Initial 50 K is towards meeting Director’s advocates and finding how much time would be required for the case to be settled, whether party has the funds or not etc.
Now I am of the opinion that if every person like me goes to him, he may charge 50 k from every body. So why pay 50 K to him by each person. If we pool the fund from investors who want to avail services from him then we all would be able to get the work done at cheaper rate.
After getting preliminary information, when Recovery agent will do efforts for actual recovery then we can negotiate separately with him for second instalment as the dues of each investor will be different and each one should pay proportionately to his dues.
So friends pl think and share how best we can save our cost as well as recovery money faster.
best wishes
kumardck
Dear All
Now I have found one reputed Recovery Agent in Mumbai who is confident to recover our dues from City Limouzines ’s promoter / directors.
His fees is 20% of amount collected. This seems to be good considering long wait and little possibilities when we go for Court route. Instead we should use the Recovery Agent’s services.
I am meeting this Agent on saturday. If any one is interested to meet this for recovery, pl send me mails at dineshca@in.com
I feel one should meet recovery agent and then decide whether it is advisable or not. I request you to explore idea and verify independently competency of the person to fulfill his promise. Sincerly think it is best to consider this in addition to normal channel of redressing our problems.
Best of luck