PACL News: If you’re a PACL depositor and nonetheless ready for a refund, ensure your up to date quantity is there within the Committee’s information to get your a refund. Depositors can be receiving SMS on their up to date cell quantity asking for unique PACL Certificate. At the time of making use of solely scanned copies of certificates and receipts have been submitted by traders. A Committee headed by retired Justice (Retd.) R M Lodha was set-up for the method of refunds to traders of PACL India restricted. The Committee has been receiving queries from traders relating to non-receipt of SMS calling for unique PACL certificates owing to alter of cell quantity.
Many traders have said that cell numbers offered by them throughout submission of on-line claims are now not operational.
Accordingly, the Committee has now offered the services to traders or candidates of PACL Ltd. on the SEBI PACL refund internet portal. Investors/candidates of PACL can now replace/change their registered cell numbers on-line on the net portal.
Also, traders/candidates with claims between Rs. 10,001 and Rs. 15,000 can now examine on the net portal whether or not SMS have been despatched to their registered cell numbers for submission of unique PACL Certificates.
Detailed step-by-step course of for updating cell quantity on the portal and to investigate whether or not SMS has been despatched calling for unique PACL Certificate, is offered on the net portal.
The Committee had initiated the method of refunds for traders of PACL having declare quantity upto Rs. 10,000. However, sure purposes couldn’t be processed additional on account of a number of deficiencies. Therefore, traders/candidates with claims upto Rs. 10,000 could examine the standing of their declare purposes on-line and rectify the deficiencies, if any.
In the present means of receiving declare purposes, the investor submitting a declare utility must be in possession of the unique bond certificates and unique excellent receipt of fee, and shall add the scanned copy of the bond certificates together with the scanned copies of the excellent receipt.
Earlier, SEBI had ordered attachment of all belongings of PACL (Pearl Agrotech Corporation Limited) and its 9 promoters and administrators in December 2015 due to their failure to refund the cash resulting from traders. Subsequently, for the method of refunds to traders of PACL India restricted, a Committee headed by retired Justice R M Lodha was set-up.
Source: www.financialexpress.com”