Times of India dated : 30-06-2015
Mumbai Edition
Page:7
Mumbai:
The Enforcement Directorate (ED) on Monday seized Rs.150 Crores that was parked in two bank accounts in Singapore by S M Masood, Chairmen of two City Group Firms- City Limouzines and City Realcom. The two Companies had promised lucrative returns on investments through various schemes but defaulted after few years.
City Limouzines and City Realcom had duped thousands across the country of over Rs.1000 crore by promising unrealistic returns on investments through various schemes. In one of the schemes, City Limouzines offered 48% returns on investment. City Realcom, in one such scheme , had promised Rs. 7775 every month for five years and Rs. 50,000 on maturity on an investment of Rs.1.39 lakh.
The ED has been investigating money laundering charges against company chairman Sayed Masood. The ED investigation concluded that after defrauding investors, Masood had transferred the money into two bank accounts in Singapore. Masood was arrested in 2012. TNN
http://epaperbeta.timesofindia.com/index.aspx
Thanks
Dr.Zulfiqar Ali Khan
Advocate
Chennai
MB: 9884102961
Mumbai Edition
Page:7
Mumbai:
The Enforcement Directorate (ED) on Monday seized Rs.150 Crores that was parked in two bank accounts in Singapore by S M Masood, Chairmen of two City Group Firms- City Limouzines and City Realcom. The two Companies had promised lucrative returns on investments through various schemes but defaulted after few years.
City Limouzines and City Realcom had duped thousands across the country of over Rs.1000 crore by promising unrealistic returns on investments through various schemes. In one of the schemes, City Limouzines offered 48% returns on investment. City Realcom, in one such scheme , had promised Rs. 7775 every month for five years and Rs. 50,000 on maturity on an investment of Rs.1.39 lakh.
The ED has been investigating money laundering charges against company chairman Sayed Masood. The ED investigation concluded that after defrauding investors, Masood had transferred the money into two bank accounts in Singapore. Masood was arrested in 2012. TNN
http://epaperbeta.timesofindia.com/index.aspx
Thanks
Dr.Zulfiqar Ali Khan
Advocate
Chennai
MB: 9884102961
Weldone sir thanks a lot for the useful information is provided in your best blog about the present situation of okay ,and expected legal to get back the money who are invested in city Group Firms -City Limouzines and City Realcom
ReplyDeleteThank you Sir.
ReplyDeleteI am also an investor. I am an ex-serviceman who invested in this.
Today I just googled up and found this information.
Pls help me sir
I am running in horrible debt. Only this money from City Limo will save me
Jeevachandran - Coimbatore
Cell No.+919047018384
Thank you Sir,
ReplyDeleteWhat is the legal process to recover money invested in this scheme? Can you please elaborate?
Thank you sir, can you advice us how to go about the process for recovering our investment. We have not filed any FIR or any case until now. How do we do it now since the long delay. My number 9980299992. Regards
ReplyDeleteDear if not submitted your claim and want to claim than Dear there are two ways either take permission from High Court by way of condone of delay petition or if you can make your documents in back date means before 30/4/2013 date make and send by Speed post or registered post.
Delete