I have invested approx 7.5 lacs so far into city realcom. And recovered approx 4 lacs. My bad luck I had invested 1.35 lacs on 8th aug. After 4-5 days only these issues of cheque bounces came into picture.
Anyways.. Two days back there was an SMS on my mobile from city requesting to hold the cheque till 15th Sep. On contacting the delhi office regarding my new investment they asked me to come after 15th. They are going to return the money to all the new investors whose installments are not yet started. Also there will be choice for old investors to either take their balance principal amount with interest or to continue with their schemes. They will be having a meeting afer 15th (i think after hearing court judgement) in which they will plan to re-issue new cheques to investors. They told us there was a major fraud from one of their employee coz of that their ABN bank accout is seized by income tax dept. Also it will take 1-2 weeks more to issue the cheques and make necessary arrangement for amount. City employess are very positive in running the company the same way as before.
They may not be fraud because they are still opened and few employess are still coming to office and replying us. Also they are in contact with investors through SMS in delhi. Lets not put them into more trouble and give them few more days. Otherwise due to our behaviour we will definately be losers if these charges and court cases continues.
I saw so many people who really benefitted with the company. My close relative invested 5 lacs 3 years back and married his 3 daughers in approx 14 lacs which he got from City. That's y I still have good hope from this company. Definately loosers are maximum those who greeded for more money after reinvestment and took loans and even sold their property and invested in this company knowing the risk involved. I am also one from them. My hard earned 3.5 lacs are still with the company but I hope everything will be fine soon. If the company is fraud then they would have closed the offices and run away without informing anybody like other companies did. So lets wait and prey for better. Lets not be panic. Being panic and arousing people to do anything against company will lead us to nowhere but to loose our own investment.
