The issue for Masood and his family is such that even if he pays all investors tomorrow, he will still be locked up for a few years to face justice in all his wrong doings. The rest has to be paid after the court and the state finance department ratify the bid.
They have filed complaints in EOW on the behalf of investors and taken rs from each. Investors Are Requested to Attend.
The prime accused in the case, SM Masood, chairman of the group, has promised the court that he is willing to pay back the due amount. So, please exercise caution from such associations.
The EOW had objected, saying the government order will pave the way for the SC to take a view that since chargesheets are being submitted under IPC, there was no need to restore the Act, a move that will benefit the companies. Seema is in Delhi EOW custody as of today.
The arrested people were 'money mules' — people recruited by cyber criminals to transfer money stolen through phishing. Thanks once again for your wonderful investigation. Companies collectively mobilised over Rs 1, crore from the public during the periodwhen the act was struck down by the Bombay high court.
They have collected enough from investors. Investors were encouraged to let their gains compound and to recruit new members into a "forced matrix" to increase their returns.
They stopped all incoming transfers, so the cash deposits that were already sent out, could not come in and hence cheques bounced. This is in itself a gamble as poor timing may result in a total loss of all money invested.
A liquidator is not going to find assets on his own. Rama Rao has retired. Over 7 lakh investors collectively invested in the various schemes floated by the fly-by-night operators. Once they are in Delhi, Seema Razzaki will be taken to Chennai. The Supreme Court hearing was deleted by the registrar, meaning it did not happen as the agencies were not compliant in their responses.
I hope this clarifies a few issues for you James!
Citibank scam of Rs. Pls see live at 10pm. Mind you there is no limit on how many tweets you can send.
Additional commissioner of police economic offences wing Sanjay Saxena refused to comment. I will let everyone know about the next date, if it ever comes up again!
James I do very well understand your situation. The decision comes seven months after the government issued orders, saying that since the Bombay high court had struck down MPIDA and its appeal was yet to be decided by the Supreme Court, it made no sense to wait for the ruling to chargesheet cases in which investigations were over.
You are a genius!Jan 03, · City Realcom Limited: Find Latest Stories, Special Reports, News & Pictures on City Realcom Limited. Read expert opinions, top news, insights and trends on The Economic Times. No relief for City Group head Masood in money laundering case 9 Jan,PM IST.
Nov 03, · City Limouzine scam News: Latest and Breaking News on City Limouzine scam. Explore City Limouzine scam profile at Times of India for photos, videos.
City Limouzines scam: HC clears way to liquidate all assets You are in an offline mode By Sunil Baghel Sunil Baghel, Mumbai Mirror | Updated: Jun 10,IST. URS 31 March City Title What is a city? People often confuse a city for a town. Merriam-Webster definition of a city is “A place where people live that is larger or more important than a town: an area where many people live and work.” (Merriam Webster definition).
I appeal all the investors of city limousine/realcom that we must all come together and file complaint individually against this fraudulent company on Gov. Grie. Fraud by citi limouzine. Jun 06, city limouzines reviews, rmp infotec biz reviews, 3/5(). @BDUTTof us are suffering because of the City Limouzine Scandal.
Help! @BDUTT Its been almost a year and still no justice in the City Limouzine Scam. Why? @BDUTT You cover Harshad Mehta and Telgi Scams- then why not City Limouzine? I have already sent in my TWEETS. Mind you there is no limit on how many tweets you can send.Download