Royal Twinkle Star Club & Citrus Check Inns: SEBI Issues Notice to Auction Properties at Alappuzha, Lower Parel, Bengaluru and Lonavala
Moneylife Digital Team 06 January 2020
Market regulator Securities and Exchange Board of India (SEBI) has released notice to auction properties of Royal Twinkle Star Club Ltd and Citrus Check Inns Ltd at Alappuzha, Lower Parel, Bengaluru and Lonavala. Both Royal Twinkle Star Club and Citrus Check Inns are involved in an alleged Ponzi scam worth Rs7,500 crore.
 
The property owned by the companies, and put up on the block includes 10,500 sq ft premises on the 17th floor of Trade World building in Lower Parel at Mumbai. This property has a reserve price of Rs25.60 crore. 
 
The property in Bengaluru is located at Bellandur village with an area of about 13,941 sq ft and hotel building with a built up area of 55,000 sq ft for which Rs32 crore is the reserve price.
 
Both Royal Twinkle Star Club and Citrus Check Inns also own land properties, some of which are mentioned in the auction. This includes about 1500 sq meter land in Lonavala with a building consisting 34 rooms, three conference rooms, kitchen, and restaurant standing on about  640.48 sq mt land. Another lands owned by the companies in the auction list include 1257.10 sq meter land with hotel building, land properties of 1195.66 sq meter and 4307.32 sq meter as well in Lonavala. The reserve prices for all these properties is Rs35.25 crore.
 
There are two plots of 1 Acre and 98 cents and 4.05 ares (one are is 100 sq meter) and 5.50 ares in block no 10 in Paravoor muri in Appappuzha district of Kerala that is being auctioned by SEBI. These plots carries a reserve price tag of Rs15.31 crore. 
 
The Supreme Court is monitoring a phase-wise sale of Royal Twinkle Star Club and Citrus Check Inns to protect the interests of investors. Last year in October, the apex court appointed senior counsel Shyam Divan as Amicus Curiae to assist the Court in this case. Mr Divan, who was counsel for one of the petitioners in the case, agreed to give up his brief (case) and take up the role of Amicus Curiae. An amicus curiae (literally, 'friend of the court') is one who assists a court by offering information, expertise, or insight that has a bearing on the issues in the case. 
 
Both the companies have raised about Rs7,500 crore from over 18 lakh investors through a collective investment scheme (CIS). This scheme was sold to investors by agents appointed by the companies. 
 
Citrus Check Inns is the new avatar of Royal Twinkle Star Club, infamous for selling holiday packages to gullible people on monthly instalment basis and promising high returns on their investment. Several agents of both these entities were found hard selling these as investment plans just to earn more commission and also recruiting new agents for marketing it.
 
In 2014, SEBI had barred Royal Twinkle Star Club and its directors from collecting money from investors, the company continues to collect money using a new name, Citrus Check Inn. In March that year, Moneylife had informed SEBI about this. (Read: MONEYLIFE IMPACT: SEBI bars Royal Twinkle Star Club from collecting money) 
 
Both RTSC and Citrus Check Inns are owned by Mumbai-based Mirah group, which runs hotels under the name Citrus and retail food chain restaurants such as Rajdhani, Mad Over Donuts and Falafels. Citrus Check Inns website claims that it gives freedom to its members to travel over 30 Indian and 3,000 overseas destinations.
 
Earlier in August 2015, market regulator Securities and Exchange Board of India (SEBI) has directed Royal Twinkle Star Club Ltd (RTSC) and its four directors to refund within three months, money collected from investors under its holiday package plans. The markets regulator also refused to lift a ban on Citrus Check Inns (new avatar of RTSC) and its directors in a 'collective investment scheme' (CIS) case promising returns on 'holiday plans'. (Read: Royal Twinkle Star Club, directors asked to wind up ‘holiday’ investment schemes)  
 
Comments
rajesh.vispute22
2 weeks ago
Here we will create first our group who really suffer from this Twinkle scam ?
Please reply me if we all are ready
rajesh.vispute22
2 weeks ago
Here we cant get our money only putting the messages here...we have to come together and then again fight to those peoples
rajesh.vispute22
2 weeks ago
Can we create a whats app group for those people who really suffer from this scam of Twinkle ?
reshmamange
3 weeks ago
Please give my money I am going to very critical condition
kavitashinde4527
3 months ago
You sell his property or no or sell his family ...or he die ,one thing is for sure he will never ever be happy nor his family because they have cheated innocent people ,it's be 10 years my mom is waiting for her money. My mom was investing. Govind prajhapati is the agent of citrus. His no. Is 88982 59332
He promised a lot, invest in Twinkle and you will get a return. Now he ran away. Still not gated the money .The entire earning of his life was spent in it.
Plzzz give money back. all I hv been reading is selling his property but till date to news of releasing funds.
Everything and every words to misslead people.
No one has contacted the investor for the return
Karma will devour your whole family....
rajesh.vispute22
Replied to kavitashinde4527 comment 2 weeks ago
Can we create a whats app group for those people who really suffer from this scam of Twinkle ?
socorita26
4 months ago
You sell his property or no or sell his family ...or he die ,one thing is for sure he will never ever be happy nor his family because they have cheated innocent people ,it's be 8 years I m waiting for my money along with my son.Due to covit many have died .So you the associate of Citru ejoy the cursed money of the people because all I hv been reading is selling his property but till date to news of releasing funds .Everything and every words to misslead people.Karma will devour your whole family....
vbhadawale4
4 months ago
Please give my money I am going to very critical condition
chandrashekhar.yadav.ext
4 months ago
kindly please return my money ,for my daughter operation
akshuheet
4 months ago
Kindly return my holiday plan money which is already matured. I am in need please do the needful.
praful.zodape
5 months ago
I have invest money in twinkle group plz give my money . I must need
praful.zodape
5 months ago
Please give my money I am going to very critical condition.
vishalgarde9
9 months ago
Plz give my money back as soon as possible......we work hard for the money we want it anyway.
vinodrajdevmishra
Replied to vishalgarde9 comment 8 months ago
Are you going to help people get their money back?
I'm calling you in the afternoon.
dineshnaidu0770
Replied to vinodrajdevmishra comment 7 months ago
The company has done scam they are not going to return us money
juberjinodee323
9 months ago
To the owners and government of india I have invested my money in Citrus group please I like to know when I will receive my money.i am in big problem as I don't have any money to spend I am totally bank rupt please I don't mind Even you sell his property including his house because this money my wife invested as the Agent promised him lots of fake please help me this is my 25 years of service
vishalgarde9
Replied to juberjinodee323 comment 9 months ago
same problem

contact me :- 8796122501
will talk
rajesh.vispute22
Replied to vishalgarde9 comment 2 weeks ago
Can we create a whats app group for those people who really suffer from this scam of Twinkle ?
meninofernandesmaria
12 months ago
To the owners and government of india I have invested my money in Citrus group please I like to know when I will receive my money.i am in big problem as I don't have any money to spend I am totally bank rupt please I don't mind Even you sell his property including his house because this money my wife invested as the Agent promised him lots of fake please help me this is my 25 years of service

Thank you
Pramod B Patil
2 years ago
Good
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