A high-powered Sebi committee has asked investors in PACL group’s illegal schemes with claims of up to Rs 19,000 to produce original documents by October 31 to receive refunds.
The panel has asked only those investors whose applications have been successfully verified to submit their original certificates.
The committee, headed by former Chief Justice of India RM Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. It has already initiated the process of refund in phases. The panel was set up by Sebi in 2016 following a Supreme Court order.
The committee has decided to call for original PACL registration certificates from eligible investors with claims between Rs 17,001 and Rs 19,000, whose applications have been successfully verified, according to a statement published on Sebi’s website on Monday.
Accordingly, intimation through SMS will be sent to all eligible investors, requiring them to submit original PACL registrat
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