Hi ! Welcome to the world of the cheated investor. Let me say that this is hopefully the first of
many blogs to follow. This will be not because I have an overwhelming desire to blog but because the crooks out there who try to 'part the fool from his money' are so many that they will keep the desire and need to create such a blog alive.
This first blog is for those investors who invested in the Osian's Art Fund in 2006 and feel cheated by the way in which Neville Tuli has behaved. He has not only illegally delayed returning our initial capital for five months but has even now only returned 85% of it. This way he has held on to 15% of the initial capital and 7% of the appreciation.
He hides behind some excuse of delay in arriving an audited NAV but it has become clear that he has no intention of being transparent in spite of his loud protestations.
Let those of us who get together here at least start the process of identifying each other so that he is not able to take advantage of the fact that we are all alone in this battle against him. I would request that only those who invested in this fund write on this blog for now. More cheatedinvestor.... blogs will follow !!!!
Pankaj Butalia
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Today Tuli sent a mail that the balance capital as well as 'income' would be sent within 8-10 days. May as well wait another 10 days and see ...
ReplyDeleteMr. Butalia,
ReplyDeleteI congratulate your efforts to start a blog on this. But the same has not been updated since many months. The reason could be either you have got all your money back so you do not wish to pursue it further or you have lost faith in getting money back. Would like to know the status if you have got all the money with returns back.
Hi R,
ReplyDeleteI'm sorry I didn't respond for some time ... this was for two reasons ... mainly that no one responded ... I kept checking for almost five months and then it became a bit silly. The second reason is that I arm twisted Tuli into returning our money ... he didn't return it officially through Osians but sent a private cheque saying he had some problem with his account and that he would send the official money soon and then I could return his personal cash. Well, he never got in touch again so I thought that was that. Please tell me if you got your money finally ... otherwise I'll restart a campaign against him. He seems to have got away with his crooked acts. If you respond, I'll reactivise this blog.
I am also an Investor in this Fraud Art Fund investment. I had been talking with Tuli for quite sometime and he always use to talk with me as if he is going to make my payment within a few weeks but it is really very sad to say that he has given me 8.5 lakhs as he has given to others in the month of Jan 2010. Since then he has been giving us false promises for the remaining amount which till date has not been received by me.
ReplyDeleteFinally we should take the Harshest Actions against Tuli because it is really High Time.
Okay, now I can see many of you have got together and are deciding to do something ... I will suggest to everyone that they join in here and use this blog as a forum to decide on what plan of action they wish to follow.
ReplyDeleteI would suggest an immediate FIR in at least Delhi and Mumbai .... followed by action in High Courts seeking attachment of all his paintings. I will send an email to others that they can use this blog but if they choose not to, Mukesh, I would suggest you stay in touch with them in any forum that they are in. I wish you the best of luck !
Contact Details of Neville Tuli:
ReplyDeletent@osians.com
Mobile : 09810924411 / 09920713777