SEBI Chairman meets group of PACL investors
A group of investors of PACL under the banner of Janlok Pratishthan met Chairman, SEBI and other senior SEBI officials at SEBI, Head Office today.
The Hon’ble Supreme Court of India vide order dated 02.02.2016 has constituted a committee under the chairmanship of Justice (Retd.) R.M. Lodha (the “Committee”) for selling the properties of PACL Ltd. and using the sale proceeds to refund the investors who have invested their money in PACL Ltd. The Committee has submitted two status reports before the Hon’ble Supreme Court elaborating the work done by the Committee in furtherance of the mandate provided to it by the Hon’ble Supreme Court. The said status reports are also available on SEBI’s website.
The Committee has initiated the process of refund to the investors of PACL Ltd. whose total outstanding amount (Principal) with PACL is up to Rs. 2,500. For greater clarity on submitting refund applications, two demo videos in Hindi and English respectively are available on https://sebicommitteepaclrefund.com, which provide step by step assistance to the investors for applying for refund using SMS and/or web-portal. Further, a list of frequently asked questions with answers (FAQs) along with a summary of the refund application process in four simple steps has been provided on the aforementioned website to assist the investors in filing their claim applications.
In this context, the group of investors requested that the process of refund be expedited. The group was apprised of the above developments and also the refund process initiated by the Committee.
Mumbai February 26, 2018