Giving information about those
with more defects, SEBI has informed that the refund has been started from our side, but there are some claims which have more than one defect, so such claims have not been paid. Is. If you also have such a case, then there may be a delay in getting your money. 

The committee has been formed, let us tell you that a meeting has been held under the chairmanship of retired judge RM Lodha, in which it has been told that a committee has been formed to return the money of PACL. It is only through this that investors’ money is being returned.

Flaws can be rectified online

According to information received from SEBI, refund money has been issued to the eligible applicants of those who had claimed Rs 15,000. At the same time, only the money of the investors who had some mistakes in the form is stuck. So you can correct such mistakes online sitting at home.

Refunds are being received from the year 2020. The process of returning their money to PACL investors has been done from January 2020, under which claims of up to Rs 5000 could be made. After this, in the middle of January 2021, investors were asked to apply to claim up to Rs 10,000. At the same time, in April 2022, SEBI has sought applications from investors for refund ranging from Rs 10,001 to Rs 15,000.

Correct the defects by January 2023

Let us tell you that at this time you can claim a refund of up to Rs 15,000. In this, time has been given till January 2023 to remove the flaws found in the application, that is, if you still have 2 months, then you can apply for it.

How to correct mistakes

You have to first go to sebipaclrefund.co.in to correct the mistakes made in the application. After this, you can remove any mistake made in your form. You have time till January 31, 2023. This window is open only till January. After this you will not be able to correct the mistake.

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If you or any of your acquaintances have invested in Pearls / PACL India Limited, good news has come for them. Approval has been given by the market regulator SEBI (SEBI) to return the money of the investors. Earlier, SEBI had allowed investors to submit documents till August 31. Approval has been given by the committee of SEBI to give refund to the claim up to Rs 15000.

Rectify the claim by 31 January 2023 While giving relief to the PACL investors in the order given by SEBI, it was said that till now the refund of those who had claimed up to Rs 15000 has been approved. However, some investors have found flaws in the application. Such investors can re-apply for refund by rectifying their claim by January 31, 2023. Online facility has also been given by SEBI to rectify the mistake made in the application.

To rectify the mistakes made in the application, first you have to apply at sebipaclrefund.co.in. The window will remain open from November 1 to January 31, 2023 to correct any errors in the form. The committee headed by retired judge RM Lodha was formed to refund the money of the investors who had invested in PACL.

When did the refund start?

Let us tell you that the refund process for PACL investors started in January 2020. Under this process, claims up to Rs 5,000 were settled earlier. After this, applications with claims up to Rs 10,000 were accepted from January-March 2021. After that in 2022, SEBI had called for refund applications ranging from Rs 10001 to Rs 15000 from April. Now a refund of up to 15 thousand is being given. Time till January 2023 has been given to rectify the flaws found in the investors’ application.

The post PACL Chit Fund Refund: Great news for Pearls investors, the money will be returned by this date; SEBI approved first appeared on Rightsofemployees.com.

Claim filing date extended

Actually, SEBI has extended the last date for submission of original documents from June 30 to August 31. In fact, many investors were unable to submit their documents till June 30 and were demanding extension of the date. After this SEBI has taken this step. However, this time SEBI has made it clear that this is the last chance to submit the documents.

Who will get benefit?

According to the information given by SEBI, the refund window is open only for those investors whose claim amount is from Rs 10001 to Rs 15000. Their application has also been verified. With this, let us tell you that SEBI has issued an alert saying that investors should not give investment documents to anyone in the Pearls scheme. So all the investors should register their claim before 31st August 2022.

Send your documents to this address 

Only those investors of Pearls to whom SMS has been sent after verification can claim for refund. Send the original documents through Registered Post or Speed ​​Post to SEBI Bhawan, Plot No.C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (East), Mumbai –400051. You must write the PACL certificate number on the envelope to be sent to this address.

It is mandatory to send these documents 

1. Copy of PACL certificate
2. Copy of PAN card Receipts (if any) of PACL
3. Copy of canceled check
4. Banker’s certificate
5. PAN card copy
6. Passport size photograph 

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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.

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