The Justice RM Lodha Committee has so far raised Rs 878.20 crore by selling the immovable properties of PACL Ltd. With this money, money is to be returned to the victims of the Ponzi scam case of Rs 60,000 crores. The company was accused of cheating.
On behalf of the committee, it has been said that the CBI had also handed over to them luxury vehicles like Rolls Royce, Porsche Cayenne, Bentley, and BMW 7 Series along with 42,950 property papers owned by PGF and PACL company.
Let us inform you that according to the data of the government, the Lodha Committee has so far received refund claims of 1.5 crore investors investing in Pearl Agro Corporation Limited, PACL, and its subsidiaries.
The committee was formed in 2016 to return the money of the investors.
The Lodha Committee was constituted by the Supreme Court in 2016. The committee has recovered Rs 878.20 crore by selling the properties of PACL and its affiliated entities. The total recovery also includes Rs 86.20 crore from the auction of 113 properties of PACL.
The assets from which the committee has taken recovery action also include companies from Australia-based Pearls Infrastructure Projects. The company has recovered Rs 369.20 crore from it. For action in Australia, a claim was filed by SEBI in the Federal Court there. After getting approval from there, recovery action was carried out.
Apart from this, Rs 308.04 crore was raised by the government by freezing the accounts of PACL and its subsidiaries. The government also received Rs 98.45 crore from the company's fixed deposits. 15.62 crore has been achieved by selling 75 luxury vehicles of the company. At the same time, Rs 69 lakh has been received from six documents related to the assets of the company.
What is PACL Scam?
PACL was also known as Pearl Group. The company had raised around Rs 60,000 crore from the common people based on businesses like agriculture and real estate. The company had illegally acquired this investment over 18 years. When it came time to return, the company started to back down. Then SEBI intervened in this matter and the matter reached the Supreme Court. The investors of this company are waiting for a long time to get their money back.
There will be a tough contest between the two heroines in the Hooghly Lok Sabha seat of West Beng
Salman Khan and his family are once again embroiled in controversy, thanks to a major statement b
Big action in NEET-UG paper leak case, CBI detains four students of Patna AIIMS.
As the investigation of the NEET UG paper leak case is progressing, new faces are coming to the f
Businessman Vijay Mallya is in the headlines these days. Soon the wedding bells will ring in his
The election results for all 227 wards of the Brihanmumbai Municipal Corporation (BMC) in Mumbai
Shubman Gill, who scored brilliant runs in the ICC Cricket World Cup 2023, remains in the news on
Gujarat Election 2022: The election of Gujarat stuck between these 'three models'! Who will win?
In the elections to be held in Gujarat, this time there will be a test of 'three models. Number o
Madhya Pradesh's Higher Education Minister Mohan Yadav compared the life of Mother Sita to the li
Russia's supply of crude oil to India will continue and bilateral trade will set new records. The
Yograj Singh Statements Against MS Dhoni: A Deep Dive into the Controversy
Introduction
