PACL Case: The committee constituted by SEBI has asked PACL investors to present original documents to such investors whose applications have been successfully verified.
PACL Chit Fund Refund News: If you have also invested in Pearls / PACL India Limited, then this news will definitely make you happy. This time the big news for investors is that now investors will get a refund of up to Rs 17,000. A committee of market regulator SEBI has ordered investors investing in the schemes of PACL Group to submit original documents by March 20 for refund claims of up to Rs 17,000.
The committee was formed in the year 2016
The committee constituted by SEBI has asked PACL investors to present original documents to such investors whose applications have been successfully verified. This committee was constituted by SEBI in the year 2016 after the order of the Supreme Court. The committee, headed by former Chief Justice RM Lodha, is overseeing the process of disposal of assets to return money to investors after verifying their eligibility.
Refund process started in a phased manner
The refund process for PACL investors has been started in a phased manner. According to the information given on the SEBI website, the committee has asked such eligible investors with claims ranging from Rs 15,001 to Rs 17,000 to bring the original PACL registration certificate, whose applications have been successfully verified. Earlier, SEBI had approved refund of claims of investors up to Rs 15,000.
When did the refund start?
Let us tell you that the process of refund for PACL investors started in January 2020. Earlier, claims up to Rs 5,000 were settled under this process. After this, till January-March 2021, applications with claims up to Rs 10,000 were accepted. After that, in 2022, SEBI had called for refund applications ranging from Rs 10,001 to Rs 15,000 from April. Now the process of giving refund of claims up to Rs 17,000 has started.
