PACL Chit Fund Refund: There is great news for the investors of Pearls. The government has now given big information. According to government data, the Lodha Committee has so far received refund claims of 1.5 crore investors investing in Pearl Agro Corporation Limited, PACL and its subsidiaries. Not only this, the Justice RM Lodha Committee has so far raised Rs 878.20 crore by selling the immovable properties of PACL LTD. In fact, from this money, the money of the victims of the Ponzi scam case of Rs 60,000 crore is to be returned by the committee.
The committee gave information
The Lodha Committee has said that the CBI had 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. On the other hand, according to the government data, the Lodha Committee has so far received refund claims of 1.5 crore investors investing in Pearl Agro Corporation Limited, PACL and its subsidiaries. That is, a long list of claimants has reached the government. Let us tell you that the last date to claim is 31 August.
The committee was formed in 2016
It is noteworthy that the Lodha Committee was constituted by the Supreme Court in 2016, which has recovered Rs 878.20 crore by selling the properties of PACL and its associated entities. The recovery made by the committee also includes Rs 86.20 crore received from the auction of 113 properties of PACL. The committee has taken recovery action from companies of Australia-based Pearls Infrastructure Projects. The committee has made recovery of Rs 369.20 crore by the company. For this, a claim was filed by SEBI in the Federal Court. After which this action was taken.
government is recovering
Apart from this, the committee had raised Rs 308.04 crore by freezing the accounts of PACL and its subsidiaries. The government also raised about Rs 98.45 crore from the company’s fixed deposits. 15.62 crore has been raised by selling 75 luxury vehicles of the company. At the same time, Rs 69 lakh has been collected from six documents related to the assets of the company. That is, the government is running money from one place.
Know what is PACL scam?
It is worth noting that PACL is also known as Pearl Group. The group had raised about Rs 60,000 crore from common people through businesses like agriculture and real estate, which were raised illegally over the course of 18 years. But at the time of return, the company backed out. After that SEBI intervened to return the money to the investors and the matter reached the Supreme Court.