SEBI
Action : 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
▪ 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
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