Over 19 lakh PACL investors get their money back: Sebi

India’s markets regulator, Sebi, has said that more than 1.9 million investors in PACL have received INR9.2bn ($128m) in refunds. PACL was found to have raised INR600bn ($8.3bn) from the public via illegal collective investment schemes in the name of agriculture and real estate businesses over a period of 18 years. The refunds have been processed in phases for investors who put money into PACL. A total of 3,747 investors with claims of up to INR15,000 have received payment of INR24.5m.