The Committee constituted by the Securities and Exchange Board of India (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, pursuant to the order dated 02-Feb-2016 of Hon’ble Supreme Court of India in Civil Appeal No.13394/2015 titled PACL Ltd. Versus Securities and Exchange Board of India and other connected matters, held its first meeting on 25.02.2016.
The Committee has made head way having collected a large number of property documents and engaged an agency for their safe custody, data creation and maintenance and has also engaged two agencies to conduct auction sale of the properties. The 1st of the Sale Notices has been published on May 29, 2016.
The Committee solicits cooperation from customers /investors of PACL Ltd. and requests them not to be guided by any reports/ rumours not published by the Committee and to submit documents only upon being specifically invited to do so by the Committee.