{"id":317,"date":"2021-08-31T08:09:33","date_gmt":"2021-08-31T08:09:33","guid":{"rendered":"https:\/\/www.atozblogg.com\/?p=317"},"modified":"2021-08-31T08:09:33","modified_gmt":"2021-08-31T08:09:33","slug":"pacl-refund-latest-news-for-investors-application-status-error-rectification-alert-important-deadline-update-from-sebi","status":"publish","type":"post","link":"https:\/\/www.atozblogg.com\/pacl-refund-latest-news-for-investors-application-status-error-rectification-alert-important-deadline-update-from-sebi\/","title":{"rendered":"PACL refund latest news for investors: Application status, error rectification alert! Important deadline update from Sebi"},"content":{"rendered":"
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It\u2019s an important update from the Securities and Exchange Board of India (Sebi) for investors of PACL Limited. In a major relief to PACL investors, the markets regulator has extended the deadline to October 31 for investors of PACL Ltd, having claims of up to Rs 5,000, to check the status of their application and rectify errors in the form. Earlier, the deadline was July 31.<\/p>\n

Now, the last date for checking the status of applications and rectification of errors has been extended to October 31, 2020, Sebi said in a statement.<\/p>\n

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The portal for investors to view status of their claim application has been operational from January 24.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Issuing a public notice \u2013 Facility to view status of deficiency in claim applications and making good those deficiencies for investors\/applicants with claims between Rs. 5,000\/-and Rs. 7,000\/ \u2013 Sebi said, \u201cThe Justice (Retd.) R.M. Lodha Committee (the \u201cCommittee\u201d) had,subsequent\u00a0 to\u00a0 making payment to 570,706 eligible investors of PACL Ltd. having claim amount upto Rs.5000\/-,\u00a0 initiated the process of payment to investors having claim amount between Rs. 5,000\/-and Rs. 7,000\/-during\u00a0 the\u00a0 period\u00a0 March,\u00a0 2020\u00a0 to\u00a0 April,\u00a0 2020. Pursuant\u00a0 to\u00a0 the\u00a0 same, refunds were\u00a0 effected\u00a0 in respect of 2,59,862 eligible applicants.\u201d<\/p>\n

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\u201cCertain\u00a0 applications having\u00a0 claim\u00a0 amount\u00a0 between\u00a0 Rs.\u00a0 5,000\/-and\u00a0 Rs.\u00a0 7,000\/-could\u00a0 not\u00a0 be processed\u00a0 further\u00a0 on\u00a0 account\u00a0 of\u00a0 one\u00a0 or\u00a0 more of\u00a0 the deficiencies.In\u00a0 this\u00a0 connection,\u00a0 the Committee has\u00a0 decided\u00a0 to provide\u00a0 an\u00a0 opportunity\u00a0 to\u00a0 all\u00a0 investors\/applicants\u00a0 with\u00a0 claims between\u00a0 Rs.\u00a0 5,000\/-and\u00a0 Rs.\u00a0 7,000\/-,\u00a0 to\u00a0 make\u00a0 good\u00a0 deficiencies\u00a0 as\u00a0 may\u00a0 be\u00a0 applicable\u00a0 to\u00a0 their claims, so as to enable their claims to be processed,\u201d Sebi added.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\u201cThe investors\/applicants with claims between Rs. 5,000\/-and Rs. 7,000\/-are requested to check the\u00a0 status\u00a0 of\u00a0 their\u00a0 claim\u00a0 applications\u00a0 online\u00a0 on www.sebipaclrefund.co.inand\u00a0 rectify\u00a0 the deficiencies, if any.The portal will be operational from August 1, 2020to October 30, 2020,\u201d Sebi concluded.<\/p>\n

PACL: All you need to know<\/strong><\/p>\n

PACL, which had raised money from public in the name of agriculture and real estate businesses, was found by Sebi to have collected more than Rs 60,000 crore through illegal collective investment schemes (CIS) over a period of 18 years.<\/p>\n

In December 2015, Sebi had ordered attachment of all assets of PACL and its nine promoters and directors for their failure to refund investors\u2019 money.<\/p>\n

In an order on August 22, 2014, Sebi had asked PACL, its promoters and directors to refund the money.<\/p>\n

The defaulters were directed to wind up the schemes and refund money to investors within three months from the date of the order.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It\u2019s an important update from the Securities and Exchange Board of India (Sebi) for investors of PACL Limited. In a major relief to PACL investors, the markets regulator has extended the deadline to October 31 for investors of PACL Ltd, having claims of up to Rs 5,000, to check the status of their application and […]<\/p>\n","protected":false},"author":1,"featured_media":354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[73],"tags":[1478,1495,1504,1510,1515,1483,1484,1498,1507,1494,1526,1482,1524,1523,1520,1499,1508,1479,1522,1509,1516,1490,1500,1512,1513,1488,1497,1517,1481,1506,1487,1492,1501,1496,1489,1525,1485,1505,1480,1493,1503,1502,1491,1511,1486,1514,1518,1519,1521],"gutentor_comment":2,"_links":{"self":[{"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/posts\/317"}],"collection":[{"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/comments?post=317"}],"version-history":[{"count":1,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/posts\/317\/revisions"}],"predecessor-version":[{"id":355,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/posts\/317\/revisions\/355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/media\/354"}],"wp:attachment":[{"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/media?parent=317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/categories?post=317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atozblogg.com\/wp-json\/wp\/v2\/tags?post=317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}