May 04, 2017
Re: NOTICE IN THE MATTER OF PACL LTD.
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 (SEBI) 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 the properties of Company i.e PACL Ltd., so that the sale proceeds can be paid to the investors. Therefore, in terms of the above mentioned order, nobody else except the Committee is authorized to effect the sale of the properties of PACL Ltd., or properties wherein PACL Ltd., has interest/right there in directly or indirectly.
The Committee has received several complaints, where from, it is learnt that certain individuals/associations etc. are collecting/ attempting to collect monies/cheques from individuals misrepresenting themselves to be authorized to do so by the Chairman/ Member of the Committee. It is reiterated that neither the Committee nor the Chairman/ Members of the Committee or SEBI has authorized any person to collect monies either by way of cheques or in any form and or documents in any manner whatsoever.
The public at large is once again cautioned against buying/dealing with any properties purchased in the name of PACL Ltd/ its associates or subsidiaries and/or in the name of individual including director(s)/employee(s)/agent(s) or any person having association with PACL Ltd or properties wherein PACL Ltd or any of its associates/subsidiaries has interest/right, directly or indirectly as no dealing is authorized except what would be approved by the Committee in accordance with the rules. The public at large are requested to beware of rumors spread by unscrupulous persons and rely only on public notices and press releases published/ released by the Committee or SEBI, which are available at www.sebi.gov.in and www.auctionpacl.com.
It is also informed that status reports as filed before the Hon’ble Supreme Court of India, have also been made available at the above mentioned websites.
The Committee vide public notices and press releases has been from time to time informing that the process of refund would be initiated upon realisation of a sizeable amount and Investors would require to file claims only in the prescribed format upon specific notification in that regard by the Committee.
Till such notification is issued/ released, Investors have also been requested to retain their documents with themselves and not to part with them for any reason whatsoever to any person or association. However, it is noticed that despite such notices, investors have been forwarding claims. Investors are therefore requested to retain their documents with themselves and forward/submit to the Committee in the format only upon SPECIFIC NOTIFICATION IN THIS REGARD BY THE COMMITTEE.