PACL investors having claims between Rs 10,000 and RS 15,000 can submit original PACL registration certificates till August 31, 2022. The Justice (Retd.) R. M. Lodha Committee had called for original PACL Registration Certificates from eligible investors with claims between Rs. 10,001 and Rs. 15,000, who receive SMS from the Committee requiring submission of the same. The last for submission was 30 June, which has been extended.
“The Committee has now extended the last date for submission of original PACL Registration Certificates to August 31, 2022. Investors who have received SMS from the Committee requiring submission of original Certificates are requested to forward the same by Registered Post/Speed Post so as to reach latest by 5:00 pm on August 31, 2022,” the Securities and Exchange Board of India (SEBI) said in a public notice last month.
Govt Statement
Meanwhile, replying to a query on the PACL matter, the Union Minister of State for Finance Pankaj Chaudhary said in a written statement in Lok Sabha on Monday (1 August) that the Lodha Committee is currently facilitating refund to investors who had applied claims on the online portal and whose claim amount is between Rs. 10,001 and Rs. 15,000.
“The Committee has in this regard, after verification, has called for original PACL certificates from investors in respect of eligible applications. The window for submitting original PACL certificates in respect of eligible applications was initially kept open for three months from 01.04.2022 to 30.06.2022. Subsequently, the Committee has extended the deadline for submitting the original certificates by another 2 months, till 31.08.2022,” Chaudhary said.
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Earlier, in respect of investors who could not submit applications through the online portal earlier in 2019, when the window was opened for investors to submit their claims, the Committee vide public notice dated 16.10.2019 had informed the investors to await notification in this regard.
The Committee was constituted for disposing of the properties of Pearls Agrotech Corporation Limited (PACL Limited) and paying the sale proceeds to the investors of PACL. The Committee had invited refund claim applications vide press releases dated January 02, 2018 and February 08, 2019, receiving approximately 1.50 crore claim applications.
“The Committee has adopted phase-wise/ claim amount-wise refund of monies to investors of PACL Ltd. depending upon the corpus available with the Committee and after verifying the claims submitted by the investor(s),” said Chaudhary.
Warning
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Meanwhile, the Lodha committee has cautioned the public against dealing with properties of PACL Ltd.
“..public at large is once again cautioned against buying and/or dealing with the properties of PACL Ltd. or properties wherein PACL Ltd. or any of its associates/subsidiaries have any interest/right, directly or indirectly. For
any information with respect to the matter of PACL Ltd., only the public notices and press releases published by the Committee, available on the website: http://www.sebi.gov.in may be relied upon,” the Committee said in the notice dated 25 July.