[salilpawar1]

As far as I know, City Limouzines are sponsors to the Indian Women's (?) Hockey Team. So, they are definitely not fly-by-night operators.

[four_tire]

It would be ideal to check with the RTO, Insurance company and a good lawyer on what implications are there for owner when someone other than owner causes the liability. Such should be documented and agreed upon.

[rkavthekar]

The scheme is a trick to lure unsuspecting investors and are later duped. Similar case happened in Pune sometime back, where company will use your money to buy cars and use them to transport BPO employees of various organizations. The investors were duped. Finally the owners of the company were tracked (of course absconded after duping) and are currently cooling their heels in lockup.

Stay away from the scheme. Its too good to be true.

drivesafely

[saurabhb2000]

City Limouzines does not *seem* to be fly by night operator. They have a real estate company and were planning to launch a airline as well. Here's the url Welcome to City Limouzines (India) Ltd.
And of course they are official sponsors of Indian hockey federation.

The returns offered seem to be too attractive. I know a person who is already with them for about a year and has been getting regular payments so far. but the real concern is what will happen after say 1.5 years. (that's when you almost get your principle invested amount back). Will their cheques bounce thereafter? anyone heard of long term record of this company?

[swapnil.rahate]

A Friend of mine has invested in the same scheme and he is getting regular income for the last 1 year. The car is on your name and you will get the car back after 5 years.

[khan_sultan]

if it's too good to be true, then it sure is. STAY AWAY...

Don't know how many here would remember the 'teak plantation' schemes from the early/mid 90's. Even they were promoted by so called well known companies. none exists now.

[esteem_lover]

This company was very active here in chennai for a long time, but seems to have frittered away now.

[trinadha]

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Originally Posted by adityapd

Guys !!!

let you use the car for 2 - 3 days every 2to 3 months.

~A

are they sure when they are gonna let u use the vehicle or probably its a fraud....i am victim of a similar fraud ...iwas booked for two cheque bounce and one civilsuite
...guys most of such invest and get returns are mostly frauds ... and the legal systemin our country is itself corrupt so there may be justice delayed or no justice ..if u have money buy a car for urself or u dont have enough wait for time ...else we should learn to be happy....dont end up on victims side...neither on the opposite side

[trinadha]

i dont refrain taking names of fraudsters or flutes...we should be well aware of such kind of groups taking peple for a ride....

[RedMM340]

Originally Posted by adityapd

Guys !!!

close on the heels of my earlier post , there is this another concern ( which happens to be related to the trust mentioned earlier) which goes by the name of " City Limouzines " and has an office in the Maker towers - an upmarket area in south Mumbai.

They have a scheme which works out as follows :

You invest in 25 % of the car value and the company would not only invest in the balance amount but would also pay for the petrol , maintainance cost as well as the driver's salary !!! Apart from that you would also receive a fixed monthly income for 5 yrs. The company would rent out the car to government institutions etc and would let you use the car for 2 - 3 days every 2to 3 months.

The deal on a Honda City ZX worked out as follows :

You enter into a deal to pay 2,25,000 /- and receive a monthly sum of 8000 /- for 5 yrs. After which the car will be transferred to your name and available for your use.

Unlike the previous deal, this is more of an investment option and the company pays you for renting out the car of which you are a partial owner.


It seems they are in business for the last 11 years and also have offices in Delhi and Bangalore and have recently started an office in Hyderabad.

The contact numbers of the H.Qs in Mumbai are 022 22028093 / 22028182.

So guys do you think this is a good ( and more importantly safe) investment option ? Does anybody on the forum have any clue / feedback on what this thing is all about ?

keep those inputs coming

~A

City Limozines, etc. are crooks and cheats. If they were in any European country or the U.S. the owners would be in jail.

Their business model has nothing to do with cars. The cars are just a cover story to get unsuspecting (but greedy) people to invest money. They simply collect large amounts of money from the public and pay out huge interest payments, and will continue to do this as long as the number of investors continue to grow. As soon as the investments slow down, they will shut down and disappear.

And this is only half the bad news. These companies are also involved in all types of questionable business investments.

[GTO]

Originally Posted by GTO

Thats a return of 42.66% per annum. Sounds a bit fishy, eh?

As they say, if it seems too good to be true, it probably is. City limouzine cheques have started bouncing. And yes, the Economic Offences Wing investigations are concurrent.

One of the investors, Jalandhar Pansare, complained to the EOW, saying he was not handed over the vehicle as promised. According to EOW, the company has duped several hundred investors by not handing over the vehicle at the end of the agreed period. According to the police, this scheme is not financially viable.

Times of India News Link

[ashthedivx]

It had too be one day, but somehow people are still not understanding till date and investing their hard earned into such scams.

Other day I saw a "City Limouzine" Innova with a RJ Taxi number running on delhi roads, How I recognized it - It had big banner on boot mirror stating invest to earn

[Gansan]

I don't know how the numbers touted in the aforementioned scheme are even possible. A friend who runs a travels business recently offered to pay me Rs 7500 and Rs 12500 a month for an Indica / Tavera respectively, if I bought a vehicle and left it at his disposal. But he made it very clear that this amount will not be fixed each month, rather will be the average of what I can expect to make in a year. So there will be months with negligible return too. He was also very clear that I should not expect to meet emi payments from this. I can summon the car for my use from time to time based on need by informing in advance.

His words were "If you buy a car and don't want to keep it idle because of very less usage, you can opt for this. But don't take a loan and buy a car for this purpose, or at least don't expect me to pay for the emi each month".

I did not take up this offer as I felt the car will be ready to give up the ghost after 2 - 3 years of such usage.

[hari78]

There is one more link regarding the casehttp://courtnic.nic.in/supremecourt/...%20317608p.txt

[Sarvodaya]

Mods: Searched for this thread but could not find one. Did not know where to post. Please move this thread to the appropriate section

I came acrsoss this AD in the clasified section of Bangalore Mirror dated 10th September 2009, Page 14.

It states that after buying a car, the buyer earns 12,000 per month plus the company will take care of all the expenses for the next five years. Does that include petrol bills also. DP is Rs.85,000 for three years and 14,100 for five years. What is DP? How does this workout for the company as well as the buyer?