Chennai
29-9.
From
K Perumal (Contact No. 9443209002)
No 35, 2nd Cross Street
Padmavathy Nagar, Selaiyur Post
Chennai – 73
To
1. The Chairman appointed for the Meeting
City Limouzines (India) Ltd
102, B wing, Mittal Towers
Nariman Point, Mumbai, 400 021.
2. Smt/Sri Nirmala Bhosle
Advocate
457/1 Dwarkia Das Mansion
S V P Road, Prathana Samaj, Mumbai – 4
And also at
117/334 Nehru Nagar, Kurla (E)
Mumbai – 400 24.
3. Managing Director,
City Limouzines (India) Ltd
102, B wing, Mittal Towers
Nariman Point, Mumbai, 400 021.
Dear Madam/Sirs
With great respect, I am writing this letter,
1. I understand that in Company Application No. 993 on the file of Hon’ble High Court of Judicature at Mumbai, in the matter of Scheme of arrangement between City Limouzines India Ltd and its Preferential Share Holders and unsecured creditors, You are appointed as Chairman to hold the meeting. I bonafidely understand that the meeting is scheduled to be held on 15-10, but there is no notice received by me till date. I am one of the preferential share holder and creditor of the Company.
2. I am sending this letter on going through the notice available in net. I am not able to understand the meaning of the word Principal amount and Principal sum as mentioned in the scheme of arrangement, can you kindly clarify meaning of the same. Further more at Sl No. 7, a point has been included to keep the Civil and Criminal proceedings in abeyance. Is it legally permissible and binding.
3. I am interested to move a resolution in the meeting for certain modification in the proposed scheme of arrangement, can you kindly keep a room for that and also can you kindly inform the procedure to move a resolution for modification.
4. I bonafidely understand that you are also the Counsel on record and hence there would not be any hurdle or difficulty for making a room for the modification proposal. Further more, I made the following investments
1. On 17-8 Rs 1, 50, 637 and in that the company agreed to pay me a monthly return of Rs. 6, 000 for the period of 60 months, The company also issued a Preferential Shares for Rs 1, 10, 947.
2. On 24-8 Rs 99, 831 and in that the company agreed to pay me a monthly return of Rs. 4000 for the period of 60 months, The company also issued a Preferential Shares for Rs 73, 515.
3. On 8-10 Rs 99, 831 and in that the company agreed to pay me a monthly return of Rs. 4, 000 for the period of 60 months, The company also issued a Preferential Shares for Rs 73515.This is a Combo deposit of Rs 21, 010 towards City Co Op Credit Society Ltd, Mumbai and the company promised to pay an additional sum of Rs 1, 000 for 60 months.
Kindly reply to the following Questions and clear my doubt.
a. Whether I am Class A Creditor or Class B Creditor?
b. What is the meaning of Principal amount, in my case?
c. What is the meaning of reducing balance?
d. Once the company decides to repay the amount, what is the difficulty in running the scheme as it is?
5. I trying to contact you and the company through email and other modes, but there is no response from your end, and hence I am forced to write this letter. I may be contacted at Cell No. 9443209002.
Thanking You
Yours Truly
K. PERUMAL
PREFERENTIAL SHRE HOLDER and Creditor.
Cell No. 9443209002.
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