PACL: Investors Can Submit Claims Online for Money Refund, Says SEBI
Market regulator Securities and Exchange Board of India (SEBI) has said the Justice RM Lodha Committee has decided to allow investors to file claims for PACL Ltd.
 
In a statement, SEBI says, "The Committee has now decided to receive claims from all investors having outstanding claims with PACL. Investors desirous of submitting their claim applications may access the dedicated website, http://sebipaclrefund.co.in/."
 
However, the market regulator has cautioned investors not to give away their original registration certificates of PACL investment to anyone, unless the Lodha Committee gives specific intimation.
 
"...refund of amounts claimed will be considered only upon the completion of the entire process of receipt of applications and be based on the availability of funds with the Committee," SEBI has clarified.
 
In the first instance, investors of PACL whose total outstanding principal amount was up to Rs2,500 were refunded the money and according to SEBI, this process is now over. About 1,13,000 investors, who had filed claims in prescribed forms, have received up to Rs2,500 each. This claim were allowed to be submitted till 31 March 2018.  
 
Separately, SEBI warned investors not to buy or sell with the properties of PACL or the company's subsidiaries. It says, "...the Committee has not authorised any individual or entity to sell the properties of PACL. It is also stated that any attempt by individuals or entities to illegally and unauthorisedly take possession of the properties of PACL will invite necessary action under law."
 
Last month, SEBI disclosed details of 29,000 properties of PACL, the Ponzi scheme that went bust. These details, says SEBI in a press release issued today, are available on the website www.auctionpacl.com.
 
Last month, the Australian Federal Court had accepted claim filed by SEBI on assets of PACL in that country. The Australian Federal Court also stated that as per three orders passed by Supreme Court of India, SEBI Act, SEBI Regulations, the Indian market regulator has full right, interest, power and authority to seek relief in Australia in the PACL case.
 
After observing that the money mobilised by PACL from investors was utilised for acquiring certain assets in Australia, as directed by Justice RM Lodha Committee, SEBI had filed a claim petition in the Federal Court of Australia seeking repatriation of the assets or the proceeds thereof on behalf of all the investors in PACL.
 
During September 2018, the Enforcement Directorate had filed a charge sheet against PACL (erstwhile Pearls) and its chief Nirmal Singh Bhangoo in connection with a Ponzi scam involving over Rs49,100 crore, which was collected allegedly by two companies from 55 million investors.
 
Apart from Mr Bhangoo, who is in judicial custody, his three colleagues and other persons have also been named in the ED chargesheet filed in a special court under the Prevention of Money Laundering Act (PMLA).
 
PACL
 
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    COMMENTS

    Sarita Kanojiya

    8 months ago

    website is not working below is the error.
    what is the solution for error?please help

    Ravi Shekhar

    8 months ago

    People who are facing very slow response from the site "https://www.sebipaclrefund.co.in" should try access it in the late night to early morning. Even in this period of time site response is relatively slow but it allows us to uplaod files.

    wood packer DHIMAN

    8 months ago

    Sir I have an already acnowlgment what is the process of submission. Please suggest me thank you

    Manish Yadav

    8 months ago

    Sir
    All document submitted in Pacl office.pls.advise how can clim

    Sandeep Singh Negi

    8 months ago

    Sir hamare paas slip aur acknowledgement he bond pacl me jama karwa diya tha.. Ham kaise apply kare sir pls reply.. Help me sir pls😭😭
    Aur sir slip kya jitni he utni upload karni he kya.. Pls help sir.. 😓😓

    REPLY

    wood packer DHIMAN

    In Reply to Sandeep Singh Negi 8 months ago

    Harjit Singh

    Vikash Vikash

    8 months ago

    Sir mere pass 3 pacl fix bond hai sub me akahi name h sir. Alag alag online hoga kya sir

    Beant Singh

    8 months ago

    How many recipets i need to upload at pacl form

    Dharmendra Singh

    8 months ago

    ASHARPHI DEVI

    Saroj Kumar

    9 months ago

    pacl

    Santhana Bharathi

    9 months ago

    what is the solution for error?

    Pardeep Thakur

    9 months ago

    Now website is not working. below is the error:-

    WEBSITE UNDER CONSTRUCTION WILL BE RESUMING SHORTLY!!!

    REPLY

    Santhana Bharathi

    In Reply to Pardeep Thakur 9 months ago

    ya am also having same issue.. and what is the solution?

    Vijay Yespogu

    In Reply to Pardeep Thakur 9 months ago

    www.sebipaclrefund.co

    try at nyt time , net speed shud be good. And need patience .....

    After 3 days of try i have successfully submitted my documents and received msg of acknowledgment number.

    Hinaben Thakor

    9 months ago

    Pacl

    SURAJ KAHAR

    9 months ago

    Pacl online Sebi Portal Not Working properly It Show Errors When Upload Of Pacl certificate
    so, Please Short out this Problem . Its My humble Request

    SURAJ KAHAR

    9 months ago

    total amount of uploaded receipts should not be greater than total claim Amount. } This is the Error when i was uploaded a pacl Certificate . So Whats The Solution . I Have only One Pacl Certificate .

    REPLY

    Stephen S

    In Reply to SURAJ KAHAR 9 months ago

    I am also getting same error .

    MTNL seeks Rs 500 crore from DoT to pay January salary
    Unable to pay salaries to its employees for a third consecutive month in January, state-run MTNL has raised pending dues of Rs 500 crore from the Department of Telecom (DoT) for the period 2000-13.
     
    The Mahanagar Telephone Nigam Ltd (MTNL) seeks reimbursement of pension and GPF totalling Rs 488 crore paid to employees absorbed from DoT in MTNL and also for rendering telephone services to DoT employees. 
     
    The DoT had leased the lands and buildings of MTNL during this period for which the public sector undertaking wants Rs 12 crore in rentals.
     
    An amount of Rs 200 crore from this is meant to settle the wage bill of MTNL employees for January, DoT sources said. 
     
    A senior DoT official said the department was examining the MTNL invoices and would release some cash towards the salary payment. The rest would be given after due scrutiny of MTNL documents in support of their claim of Rs 500 crore. 
     
    MTNL has an employee strength of around 23,000. Its stock price closed at Rs 12.20 a piece on Monday, just about 1 per cent higher than the previous close. 
     
    Earlier, MTNL was paying pension to its employees. But three years back, DoT started funding pensions of MTNL employees. It is on this basis that MTNL is now reclaiming the amount what it has already paid to tide over its current financial crunch. 
     
    MTNL reported widening of its loss to Rs 859 crore on standalone basis in the quarter ended on September 30, 2018, mainly on account of increase in finance cost and decline in sales. 
     
    The debt-ridden firm posted a loss of Rs 730.64 crore in the same period a year ago. 
     
    The finance cost of the company during the period under review increased to Rs 422.72 crore from Rs 366.22 crore. The total income declined by about 21 per cent to Rs 621.26 crore in the reported quarter from Rs 791.1 crore in July-September 2017 quarter. 
     
    The auditors of MTNL in a note said that the net worth of the company had been fully eroded. MTNL has a debt of around Rs 19,000 crore.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
     

     

  • User

    COMMENTS

    Roopa Bp

    2 months ago

    I am yet to claim for my PACL refund. Please let me know if can claim now.

    Limbadri Lacharlla

    2 months ago

    i am not resisted for online my pacl refund clime amount please tell me second round date .

    Madan Singh Chouhan

    8 months ago

    Sir I have already submitted in Pacl office, what is next process.pls reply sir

    Gurubasayy Math

    8 months ago

    10 years money invested why refound loss compete and Sabi officers.

    Madhu Jk

    9 months ago

    I have only receipts ,at begining the committee says every holder should submit your bond papers ,but at this time they are asking for bond, submission to online it is mandatary what should i do please any one answer me ...nd the server was very harassing not working properly please govt should take care of us ...

    Khaire Ganesh

    9 months ago

    Please send me the refund investors form link

    TCS partners with JDA Software to develop cognitive supply chain solutions
    Tata Consultancy Services, a leading global information technology services, consulting and business solutions organisation, announced a global partnership with JDA Software, the leading provider of end-to-end supply chain and retail solutions, to build next-generation cognitive solutions, and offer consulting and system integration services around digital technologies, to optimise supply chains for customers worldwide, according to a press release from the company.
     
    The partnership will leverage the TCS Business 4.0 thought leadership framework and JDA Luminate solutions portfolio to develop joint, interoperable technology solutions for supply chains of the future. These solutions will use TCS Machine-First Delivery Model to accelerate human-machine collaboration to solve complex business problems, faster and better, delivering multi-fold productivity improvements and transforming customer experience.
                 
    Through these solutions, enterprises can harness the power of cloud, AI and ML, allowing them to gain complete supply chain visibility and receive prescriptive recommendations to make accurate, profitable business decisions. Businesses will benefit from real-time predictive analytics and cloud-driven business models that help realise outcome-based supply chain transformations.
     
    TCS will establish an end-to-end Cognitive Supply Chain Lab at its Business Solutions Lab in Cincinnati, Ohio, USA to develop quick proofs of concept.
  • User

    COMMENTS

    yogendra kumar gautam

    9 months ago

    pacl form

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