SEBI: PACL Investors Will Have To Produce Original Registration Certificate For Refund

A high-level committee of market regulator SEBI has said that investors of PACL will have to produce original registration certificate to withdraw money. This document can be submitted by 30 June, 2022. It will have to be deposited only when investors get a message from SEBI. This will be applicable only for those investors whose claim amount is between Rs 10,001 to Rs 15,000 and whose application has been verified.

SEBI has started accepting certificate of origin from April 1, 2022. A panel was constituted under the chairmanship of former Chief Justice RM Lodha to give back the money to the investors of PACL. This panel itself is taking the decision in this matter.

Money will be given by selling the properties of PACL

According to the press release of SEBI, it is working on a plan to give money to investors by selling the properties of PACL. It has given money back in several phases in the past as well. PACL (Pearl Group) had raised more than 60 thousand crore rupees from investors through illegal Collective Investment Scheme (CIS) in the name of agriculture and real estate business. This money was raised over 18 years. 

Certificates can be sent through Speed ​​Post

PACL Investors can send the certificate through Speed ​​Post to the Mumbai office of SEBI. In December 2015, SEBI had ordered attachment of all properties of PACL and its nine promoters and directors. Along with this, all the schemes of PACL were also ordered to be closed.

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