PACL: Investors Can Submit Claims Online for Money Refund, Says SEBI
Moneylife Digital Team 11 February 2019
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,"
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
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).
Sarita Kanojiya
3 years ago
website is not working below is the error.
what is the solution for error?please help
Ravi Shekhar
3 years ago
People who are facing very slow response from the site "" 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
3 years ago
Sir I have an already acnowlgment what is the process of submission. Please suggest me thank you
Manish Yadav
3 years ago
All document submitted in Pacl office.pls.advise how can clim
Sandeep Singh Negi
3 years 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.. 😓😓
wood packer DHIMAN
Replied to Sandeep Singh Negi comment 3 years ago
Harjit Singh
Vikash Vikash
3 years ago
Sir mere pass 3 pacl fix bond hai sub me akahi name h sir. Alag alag online hoga kya sir
Beant Singh
3 years ago
How many recipets i need to upload at pacl form
Dharmendra Singh
3 years ago
Saroj Kumar
3 years ago
Santhana Bharathi
3 years ago
what is the solution for error?
Pardeep Thakur
3 years ago
Now website is not working. below is the error:-

Santhana Bharathi
Replied to Pardeep Thakur comment 3 years ago
ya am also having same issue.. and what is the solution?
Vijay Yespogu
Replied to Pardeep Thakur comment 3 years ago

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
3 years ago
3 years 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
3 years 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 .
Stephen S
Replied to SURAJ KAHAR comment 3 years ago
I am also getting same error .
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