Tuesday, 6 March 2018

PACL Refund Last Date | Pacl Refund Latest News 2018

Welcome To PACL Refund Status 2018
Queries Solved :-
SEBI extends last date for filing refund claims upto March 31, 2018 in matter of PACL Limited.
  • Last Date of PACL Online Refund 2018
  • When PACL Return Money 2018

Read This News Also :- Sebi Pacl Refund News 2018 Click Here

Janlok Pratishthan Sanghatana, a city-based investor forum representing duped PACL group depositors, has sought removal of markets regulator Sebi from the Pearl Agrotech Corporation Limited (PACL) case.

During a meeting attended by over 25,000 depositors in Mumbai on Monday, the association
said it will move the apex court for the demand. On Tuesdday, Sebi extended the
time for filing online refund claims by a month to March 31, 2018.

The association contends that Sebi has been “ineffective” in returning depositors their money in any case in the past.
It also claims that SEBI has been saying that not much money can be given to the depositors by arguing in courts its ineffectiveness in auctioning attached properties of PACL. It is believed that over 5 crore investors of PACL were duped of a total Rs 50,000 crore for a period of over 18 years.

Janlok Pratishthan Sanghatana secretary Vishal Mhetre said during Monday’s meeting, Sebi representatives said they have so far collected Rs 400 crore from auctioning of properties. “This can only give a pittance to the depositors whose claim Sebi has called for,” he said.
Sebi has sought claims from people whose outstanding principal investment is less than Rs 2,500. According to the Lodha committee report, there are close to 1.43 crore investors in this bracket and Rs 1,549 crore would be required to refund them.

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