December 08, 2017
PR No. 066/2017

Appointment of Shri. R.S.Virk, District Judge (Retd.) for hearing the objections/ Representations made to/ received by Justice (Retd.) R.M.Lodha Committee (in the matter of PACL Ltd.)

Appointment of Shri. R.S.Virk, District Judge (Retd.) for hearing the objections/ Representations made to/ received by Justice (Retd.) R.M.Lodha Committee (in the matter of PACL Ltd.)
Pursuant to the order dated 02.02.2016 passed by the Hon’ble Supreme Court of India (the ‘Hon’ble Court’) in the matter of Subrata Bhattacharya V. Securities and Exchange Board of India (CA No. 13301/2015) and other connected matters, SEBI has constituted a committee 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 “PACL Committee”).
 
In compliance of the same, the PACL Committee has undertaken the process of selling the properties of PACL Ltd. The PACL Committee has also received objections/ representations in respect of this work being undertaken by it.
 
In this regard, the PACL Committee has appointed Shri. R.S.Virk, District Judge (Retd.) for hearing the objections/ representations in respect of the work being undertaken by the PACL Committee. The Hon’ble Court has been intimated of the appointment of Shri. Virk and vide order dated November 15, 2017, the Hon’ble Court has taken the view that all applicants put up their cases before Shri. R.S.Virk, District Judge (Retd.).
 
In light of the above, it is hereby informed that all objections/ representations in respect of the work being undertaken by the PACL Committee be sent to the Office of Shri. R.S.Virk, District Judge (Retd.) at Fourth Floor, Plot No.226, A-2, Sec – 17,Dwarka, New Delhi. Furthermore, a cause list providing the list of matters to be heard by Shri. R.S.Virk, District Judge (Retd.) shall be provided on the SEBI website on a daily basis.