PACL: No one is authorized to sell PACL properties, documents can be submitted till August 31

The SEBI panel on Monday cautioned the public that it has not given any responsibility to sell the properties of PACL. Nor has anyone authorized it. So no one should transact with these properties. On its website, it said that it is clarified that the committee has not given any letter or authority to any person or institution. Action will be taken against anyone who illegally takes possession or sells these properties. In December 2015, SEBI ordered the attachment of all properties of PACL and its nine owners and directors. The company was unable to return the money to the investors.

Claims can be made till August 31

SEBI had earlier ordered investors to submit all documents by June 30. But it has now been extended to 31 August. After this, the date of submission of documents will not be extended. To get the claim, investors have to submit the original documents to SEBI. When you have SMS, only then you can do it. At present, only investors of Rs 10 to 15 thousand will get this amount. These documents are being verified. If your mobile number with PACL policy is no longer working then you can change your mobile number online.

The company had raised Rs 60000 crore

PACL had raised over Rs 60,000 crore from common people in 18 years through illegal Collective Investment Schemes (CIS). It had taken money from people in the name of agriculture and real estate business. Following the order of the Supreme Court, SEBI formed the committee in 2016 under the chairmanship of former judge RM Lodha. The same committee has started the process of returning the money to the investors in a phased manner.

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