Active petitions in over 75 countries Follow GoPetition

Investors seek return of capital and income

Petition published by ganeshvenkatachalam on Nov 03, 2009
414 Signatures 
Target: supreme court of india/company law board
Region: India

Petition Background (Preamble):

WE investors of M/s. city limousines, city real com group of companies denied our return on investment for the past three months. the com has collected several corers of rupees from hundred thousand of investors from all walks of life. the com on the cover of economic melt down/ harassment by govt agencies went underground and not coming with define repayment programs. THEY GAVE L0T OF FALSE HOPES FOR REOPENING THEIR OFFICES AND DRIFTING THE INVESTORS FROM PILLAR TO POST.

NOT KNOWING THE INTENTIONS OF THE COMPANY WE POOR INVESTORS ARE HARD PRESSED AND OUR DAILY LIFE HAS BECOME MISERABLE. WE WANT PEACEFUL NEGOTIATION WITH THE COM. TO END OUR HURDLE QUICKLY. PL HELP

Petition:

Honorable Chief JUSTICE OF India/RESPECTED CHAIRMAN, COMPANY LAW BOARD

Sir, it is with great respect to the Judiciary of India, I submit this appeal of ours on behalf of thousands of poor investors of M/S. CITY LIMOUSINES; CITY REAL COM GROUP OF COMPANIES, who are deprived of their monthly income from from the huge deposits collected by the company. The company stopped the return of income suddenly from AUG-09, stating organization/ regrouping/ inquiry by Govt.Authorities like FEMA /E.O.W/E.D.

Various cases field in Bombay H.c are moving in snail's space.and the party is applying transfer petition supreme court.all his bail application are rejected,and law & order is searching him. On the contrary he is applying for arbitration petition in mumbai court for a second time.the first approach as per summons for Directions by Hon. company Judge failed miserably with following discrepancies:
1) the prospectus issued by the masood were not registered with ROC
2) No AGM was called
3) That on Oct 13 or 14 when the so called meeting was held , on that
day one of the lawyers filed a petition in the court regarding the meeting being not conducted in an appropriate manner and the HC gave a verdict that all the proceedings that took place in the meeting stands null and void. Though it seems the intention of the company is not to run away, their lukewarm approach, and not informing the investors the factual position made the thousands of investor’s life miserable. Sorrowing tales of such customers are pouring in in so many web sites.

3. In view of the above i appeal MY LORD,/and high profile dignitaries to issue direction to to the Company to have a ONE TO ONE MEETING WITH A CHOSEN 25 REPRESENTATIVES OF THE INVESTORS ACCORDING TO VARIOUS PREVALENT SCHEMES OF THE COMPANY.

4. If the intention of the company is good and it really respects the feeling of the investors let them openly come out with an announcement in their website and have a arbitration procedure as per company law .

5. We investors feel in the ONE TO ONE MEET IF CONDUCTED WILL SOLVE THE PROBLEM.

SEEKING JUSTICE ON BEHALF OF INVESTORS.

The Investors seek return of capital and income petition to supreme court of india/company law board was written by ganeshvenkatachalam and is in the category Business at GoPetition. Contact author here. Petition tags:

Tell | Map | Signatures | Views | Bookmark | Banners | Link | Tip Jar | Sponsor
Click here to Like this petition or Add/View Comments