PRESS RELEASE - SEBI

January 02, 2018
PR No. 001/2018


Refund to PACL Investors

  1. The Hon’ble Supreme Court of India (hereinafter referred to as the ‘Court’) has passed an order dated February 02, 2016 in the matter of Subrata Bhattacharya V. Securities and Exchange Board of India (CA No. 13301/2015) and other connected matters. Vide the said order, SEBI was inter alia directed to constitute a committee under the Chairmanship of Hon’ble Mr. Justice R.M.Lodha, the former Chief Justice of India, for disposing of land purchased by PACL Ltd. (hereinafter referred to as ‘PACL’/ the ‘Company’), so that the sale proceeds can be paid to the investors, who have invested their funds in the Company.
     

  2. SEBI has accordingly constituted a committee under the chairmanship of Justice (Retd.) R.M. Lodha for selling the properties of PACL and using the sale proceeds to refund the investors who have invested their money in PACL(hereinafter referred to as the ‘Committee’).
     

  3. The Committee in furtherance of its mandate has decided to initiate the process of refund to the investors of PACL with the monies so far realised by it. At the first instance, the Committee has decided to receive claims from such investors whose total outstanding amount (Principal)with PACL is up to Rs. 2,500. It is clarified that refund may not necessarily be Rs. 2,500 per claimant investor, and would be effected on a pro-rata basis after considering the number of claims received as well as the funds available with the Committee.
     

  4. In light of the above, only such investors whose total outstanding amount(Principal) with PACL is up to Rs. 2,500 (per investor) are advised to send the following details by way of an SMS at 562632 or by uploading the same on the website http://sebicommitteepaclrefund.com/. 
     

    • Name of the investor as per PACL Certificate,

    • Amount claimed (in rupees),

    • Claimant’s mobile number,

    • PACL Scheme Payment Registration number,

    • Scanned copy of PACL Certificate,

    • Aadhaar/ Pan Number,

    • Bank account number and IFSC code,

    • Whether land has been allotted to the claimant investor by PACL,

    • Scanned copy of PAN Card / Aadhaar Card, and

    • Scanned copy of the latest Bank Statement showing the last three transactions. (The Applicants should ensure that the latest Bank Statement uploaded must clearly show the name, address, bank account number and IFSC code) 
       
      In this respect, a demo video illustrating the process for making an application for refund is provided on the website http://sebicommitteepaclrefund.com/ and the same may be viewed before making such application. Investors can also call on <044-395-71985> to know the status of their applications for refund.
       

  5. The investors are hereby advised to send only such information as sought for at Para 4 above and strictly in the manner stated therein, and not in any other manner. The investors are further cautioned against parting with their original PACL Registration Certificates, unless on specific intimation received from the Committee
     

  6. The last date for receipt of applications for refund is February 28, 2018.

Mumbai

January 02, 2018

 
PRESS RELEASE - SEBI

February 26, 2018
PR No. 006/2018


SEBI Chairman meets group of PACL investors

A group of investors of PACL under the banner of Janlok Pratishthan met Chairman, SEBI and other senior SEBI officials at SEBI, Head Office today.
 
The Hon’ble Supreme Court of India vide order dated 02.02.2016 has constituted a committee under the chairmanship of Justice (Retd.) R.M. Lodha (the “Committee”) 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 has submitted two status reports before the Hon’ble Supreme Court elaborating the work done by the Committee in furtherance of the mandate provided to it by the Hon’ble Supreme Court. The said status reports are also available on SEBI’s website.
 
The Committee has initiated the process of refund to the investors of PACL Ltd. whose total outstanding amount (Principal) with PACL is up to Rs. 2,500. For greater clarity on submitting refund applications, two demo videos in Hindi and English respectively are available on https://sebicommitteepaclrefund.com, which provide step by step assistance to the investors for applying for refund using SMS and/or web-portal. Further, a list of frequently asked questions with answers (FAQs) along with a summary of the refund application process in four simple steps has been provided on the aforementioned website to assist the investors in filing their claim applications.
 
In this context, the group of investors requested that the process of refund be expedited. The group was apprised of the above developments and also the refund process initiated by the Committee.

Mumbai

February 26, 2018

 
PRESS RELEASE - SEBI

February 26, 2018
PR No. 007/2018


Date for filing refund claims in the matter of PACL Limited extended

Justice (Retd.) R. M. Lodha Committee, vide press release dated January 02, 2018 had communicated the initiation of the refund process to the investors of PACL from the monies so far collected by it. The last date for submission of claim applications under the present refund process is February 28, 2018.
 
The Committee has received representations and applications from various investors requesting it to extend the deadline for receipt of claim applications from investors.
 
In light of the above, the Committee has decided to extend the last date of receipt of applications from February 28, 2018 to March 31, 2018. It is, however, emphasised that all other terms and conditions of the present refund process as provided in the press release of January 02, 2018 shall remain unchanged.

Mumbai

February 26, 2018