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    PACL investors' refund applications under process: Sebi

    Synopsis

    The regulator also asked other investors of PACL to await committee's notification.

    The committee was set up by Sebi following a Supreme Court order for selling properties of PACL and using the sale proceeds to refund investors.

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    Markets regulator Sebi on Wednesday said applications filed by investors of PACL for claims up to Rs 5,000 are currently being processed for making refunds. In February, the markets watchdog asked investors of PACL to submit their refund applications to the panel headed by retired Justice R M Lodha till April 30.

    The committee was set up by Sebi following a Supreme Court order for selling properties of PACL and using the sale proceeds to refund investors.

    "Applications filed by the investors for claims up to Rs 5,000 are currently being processed for effecting refund," the Securities and Exchange Board of India (Sebi) said in a statement.

    Further, in the current refund process, claim applications of investors who are in possession of the requisite documentation such as original bond certificate and outstanding receipt of payment are being considered, it added.

    The regulator also asked other investors of PACL to await committee's notification.

    "Other investors with claims in excess of Rs 5,000 as well as other cases, such as claim applications from nominees or legal heirs or where investor does not possess any receipts or is in possession of only a few receipts or just the last receipt and/or does not possess the bond certificate or investor has only acknowledgement issued by PACL, etc, are requested to await notification by the committee with respect to such claims, in due course," it added.

    PACL had illegally collected around Rs 60,000 crore from the public, mainly in the name of agriculture and real estate businesses, and was found by Sebi to have collected these funds through illegal collective investment schemes over 18 years. SP RVK
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    9 Comments on this Story

    Rethinavel Velmurugan40 days ago
    Sir pls my father is PACL investors amount already have a banking pls how much my many pls title
    Sangram Singh Parmar236 days ago
    It is said that PACL investors amount upto Rs5000 have been paid, but as per my surrounding people of such amount have not been paid so far. At least 70 receipt of PACL investors have been submitted on line from my desk. Why such fake information being shared,
    Dinesh Singh331 days ago
    Paisa kaise Milega ya nhi kitni yojnayen h sebi ne kyon nhi poora payment baapsi kiya?
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