In the matter of PACL Ltd. Vs Securities and Exchange Board of India (SEBI) (Civil Appeal No. 13394/2015) and other connected matters, the Hon'ble Supreme Court vide order dated February 2, 2016, inter alia, directed SEBI to constitute a Committee, under the Chairmanship of Hon'ble Mr. Justice R.M. Lodha, former Chief Justice of India, for disposing of the land purchased by the Company (PACL) so that the sale proceeds can be paid to the investors, who have invested their funds in the Company for purchase of the land.
In compliance with the above mentioned directions a Committee has been constituted and is as under:
1- Hon’ble Mr. Justice R.M. Lodha, -Chairman
the former Chief Justice of India
2- Mr. S. Raman, -Member
Whole Time Member,
SEBI
3- Mr. Amit Pradhan, -Member
Chief General Manager and Regional Director,
Northern Regional Office,
The Hon’ble Supreme Court also directed that a Nodal Officer shall be appointed, who shall be in-charge of the funds so collected and shall have a liaison with the Committee and shall also work as a Secretary to the said Committee. SEBI, accordingly, has appointed Mr. Rakesh Kumar Singh, Deputy General Manager, SEBI, as the Nodal Officer cum Secretary of the above mentioned Committee.