Receipt of Claim Applications from Investors of PACL Ltd.
The Justice (Retd.) R.M. Lodha Committee (in the matter of PACL Ltd.) is a Committee constituted by SEBI pursuant to the order dated February 02, 2016 of the Hon’ble Supreme Court of India in Subrata Bhattacharya V. Securities and Exchange Board of India and other connected matters under the chairmanship of Justice (Retd) R.M. Lodha 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”)
The Committee at the first instance initiated the process of receipt of claim applications with respect to the investors of PACL whose total outstanding amount (Principal) with PACL was up to Rs. 2,500. Upon verification, refunds were made in respect of claims found to be in order. The said process has now been concluded.
The Committee has now decided to receive claims from all investors having outstanding claims with PACL Ltd. Investors desirous of submitting their claim applications may access the dedicated website, http://sebipaclrefund.co.in/.
It is informed that demo videos in English and Hindi, illustrating the process for submitting claim applications, have been provided on the above website and the same may be viewed before submitting any claim application. Further, investors are cautioned against parting with their original PACL Registration Certificates, unless on specific intimation received from the Committee.
It is clarified that refund of amounts claimed shall be considered only upon the completion of the entire process of receipt of applications and shall be based on the availability of funds with the Committee.
The last date for receipt of claim applications is April 30, 2019.