PACL Chit Fund Refund: The committee has started the process of refund in different phases. Following the order of the Supreme Court, SEBI formed the committee in 2016. According to the information released on the SEBI website, the committee has asked for the original PACL registration certificate from investors with claims between Rs 17,001 and Rs 19,000.
PACL Chit Fund Refund News: If you have also invested in Pearls / PACL India Limited, then this news is for you. The High Powered Committee of SEBI has asked the investors of PACL Group to submit the original documents. The committee asked investors with refunds up to Rs 19,000 to submit documents by October 31 to get their money back. The committee has asked only those investors whose applications have been verified to submit their original documents.
Asked for original PACL registration certificate
The committee headed by former Chief Justice RM Lodha is monitoring the process of disposal of assets to return money to investors. The committee has started the process of refund in various stages. Following the order of the Supreme Court, SEBI had formed the committee in the year 2016. According to a notice released on the SEBI website, the committee has asked for the original PACL registration certificate from investors with claims between Rs 17,001 and Rs 19,000.
Information in this regard will be sent through SMS.
For this, such investors have been considered eligible, whose applications have been successfully verified. Information in this regard will be sent to all eligible investors through SMS. The statement said that the facility to accept the original certificates will be open from October 1, 2023 to October 31, 2023. Let us tell you that PACL is also known as Pearls Group. Earlier, a refund of up to Rs 15,000 was issued by SEBI.
When did refunds start coming?
Let us tell you that the refund process for PACL investors started in January 2020. Under this process, first claims up to Rs 5,000 were settled. After this, applications with claims up to Rs 10,000 were accepted from January-March 2021. After that, from April 2022, SEBI had invited applications for refund ranging from Rs 10001 to Rs 15000. Now the process of refund up to Rs 19 thousand is going on. For this, investors have been asked to submit applications by 31st October.
