Markets regulator Sebi said Monday that an Australian court has accepted its claim seeking repatriation of the funds on behalf of PACL investors. The money mobilised by PACL Ltd from investors was utilised for acquiring certain assets in Australia, the Securities and Exchange Board of India (Sebi) said in a statement. PACL, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected funds worth crore of rupees through illegal collective investment schemes over a period of 18 years. The regulator has already appointed a panel, chaired by former Chief Justice of India R M Lodha, to oversee the process of disposing of assets in order refund money to investors after verifying their genuineness. On observing that the money mobilised by PACL from investors was utilised for acquiring certain assets in Australia, as directed by Lodha Committee, Sebi has filed a "claim petition in the Federal Court of Australia seeking repatriation of the assets or the proceeds thereof on behalf of all the investors in PACL," the regulator said. "The Federal Court pronounced judgement dated July 20, 2018, and passed order dated July 23, 2018 in the matter, accepting the claim petition filed by Sebi," it added. As per the order, Securities and Exchange Board of India (Sebi) will be entitled to receive sale proceeds of assets acquired by PACL in Australia. In December 2015, the capital markets watchdog had ordered attachment of all assets of PACL and its nine promoters and directors for their failure to refund more than Rs 60,000 crore due to investors - the biggest amount for any such case. The order came after PACL failed to refund investor's money. PACL had raised Rs 49,100 crore from nearly 5 crore investors that it needs to refund along with promised returns, interest payout and other charges, which took the total amount due to over Rs 60,000 crore.