Considering the brief details of the case mentioned we notice that the petitioners are City Limouzines and City Realcom only
The company City Hospitalities is not a petitioner and most of the investors have been given cheques from this company with printed signatures
The company has prayed for a stay of action by it’s creditors among other things and therefore the court has asked them to comply with 27 conditions in the review of another person wherin the case details are given.
If the couurt grants a stay then all the investors money will be delayed. The most affected will be the persons who have invested recently and received less than 16 or 18 emi amounts which is the amount that will equal the investment.
The company can pay from the City Hospitalities Account and Investors can proceed against this company as this Company is not a petitioner in this case. But again This company is not directly liable to the Investors and the Inverstors claims and cases will not stand if challenged. If the investor has signed agreement with City Hospitality then Ok. If not they may consider to honour the cheques that they have issued and then say bye bye
If the group wants to keep up the name then they will pay god willing.
this is my opinion only
we will know tomorrow on the outcome of the case the true colours and our exact position on how to overcome our personal debts which were based on the EMI of this so long so good company