It is brought to the notice of the General Public that in compliance of the order dated February 02, 2016 passed by the Hon'ble Supreme Court of India in Civil Appeal No.13394/2015 titled as PACL Ltd. Vs Securities and Exchange Board of India and other connected matters, a Committee has been constituted by SEBI under the Chairmanship of Justice (Retd.) R. M. Lodha, Former Chief Justice of India for disposing of the properties of the Company viz. PACL Ltd., so that the sale proceeds can be paid to the investors.
In compliance of the above mentioned order, the Committee vide public notices dated 27/08/2016 & 30/09/2016 invited Expression of Interest (EOI) from the public at large on the properties of PACL Ltd. Further, vide public notice dated 27/11/2016, the investors were informed that the process of auction is underway in terms of the said notice dated 27/11/2016.
The Public at large is further made aware that in terms of the above mentioned order dated February 02, 2016 passed by the Hon'ble Supreme Court of India, only the Committee is authorised to sell the properties of PACL Ltd. or properties wherein PACL Ltd. has interest/rights therein directly or indirectly.
The committee has received complaints, whereby, it is learnt that certain individuals/associations are collecting money/cheques from individual misrepresenting authorisation from the Committee. It is clarified that the Committee has not authorised any person to collect any money/cheque in any manner whatsoever.
In view of the above, the Public is once again cautioned against buying/dealing with any properties wherein PACL Ltd. or any of its associates/subsidiaries have any interest/rights, directly or indirectly. The public at large are requested to rely only on the public notices and press release published by the committee, which are available on the website: www.sebi.gov.in and website: www.auctionpacl.com.