Nab City Limo accused: HC

MUMBAI: The HC on Wednesday questioned the state about 12 of the 13 accused absconding in the City Limouzines fraud case. "We have a serious grouse about arrests," said a bench headed by Justice Ranjana Desai.
"People are being informed that they are going to be arrested so that they can run away. Don't say you (police) cannot arrest them," the court stated. The City Group Investors Association (CGIA) had filed a criminal PIL seeking action against the company, City Limouzines (India) Limited. The company was accused of defrauding thousands of people by offering 48 per cent returns on their investments. Its lawyer Mubin Solkar said that the state government should attach the properties owned by the company to recover the money of the investors.
As per the scheme floated by the allegedly fraudulent company in 2007-08, each investor was made to pay Rs 97,907 and a Maruti Omni would be purchased under his/her name. Although the vehicle would be handed over to the investor only after five years, he/she would earn a fixed sum of Rs 4,000 every month as the vehicle would be rented out by City Limouzines until the 5 year period was up.
Those arrested by the police so far include only the chairperson of the company Sayed Massod Jamadar while 12 other accused have been absconding, Solkar told the court.
The court summoned the officers of the Nagpada police station and asked them to file an affidavit regarding the progress of investigations in two weeks. The court however said if the police arrested the acused instead, there would be "nothing like it." Justice Desai said, "Get hold of them. If the Mumbai police want, they can arrest. That much I know from my experience."