PACL Investors Can Update Mobile Number on SEBI Website
Moneylife Digital Team 17 June 2022
The justice (retd) RM Lodha committee, which is supervising the Supreme Court (SC)-ordered process of selling PACL's assets, has allowed investors to update their mobile numbers on the separate portal, set up by Securities and Exchange Board of India (SEBI). 
In a release, SEBI says, “The justice Lodha committee has been receiving queries from investors regarding non-receipt of SMS calling for original PACL certificates owing to change of mobile number. Many investors have stated that mobile numbers provided by them during submission of online claims are no longer operational.”
The Committee has provided the following facilities to investors and applicants of PACL on the web portal The portal has a facility for changing or updating mobile numbers on the enquiry and refund portal. It also provides a facility to enquire whether SMS has been sent to the investors calling for original PACL certificate. 
The Committee in April this year had asked investors, who invested in illegal schemes of PACL, to submit their original registration certificates by 30th June only after receiving an SMS from the panel. (Read: PACL Refunds: SEBI Asks Eligible Investors To Submit Original Certificates after Receiving SMS from Lodha Committee)
This was applicable only to those investors whose claim money is between Rs10,001 and Rs15,000 and whose applications were verified.
SEBI also warned PACL investors against submitting their original PACL registration certificates without receiving an SMS from the justice Lodha committee.
SEBI's investigations had earlier revealed that PACL, which had raised money from the public in the name of agriculture and real estate businesses, collected more than Rs60,000 crore through illegal collective investment schemes (CISs) over 18 years. Moneylife had extensively reported on the PACL scam and here to be linked.
In February 2019, a committee headed by retired justice Lodha had initiated the process of refunds in phases for investors who had invested in PACL.  PACL (or Pearls) is one of the largest Ponzi schemes in India which had been allowed to run for decades amassing over Rs60,000 crore. The committee had asked PACL investors to submit online applications for refund. 
The Lodha committee has been processing applications received from investors in a phased manner, slab-wise and, currently, applications with claim amount up to Rs10,000 have been processed and payments have been made in respect of eligible claim applications.
The documents uploaded by the PACL investors are verified and then payment amount is calculated, applications processed and, subsequently, payments are processed.
The mobilisation of funds by PACL goes back prior to 1997. On receipt of a complaint, SEBI on 30 November 1999 and 10 December 1999 issued letters asking PACL to comply with the provisions of the collective investment scheme (CIS) regulations.
In September 2018, the enforcement directorate (ED) had filed a charge-sheet against PACL 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 millions of investors. The ED, which started the probe after lodging an first information report (FIR) in 2015 based on the Central Bureau of Investigation (CBI)'s case, had, in January 2018, attached Australia-based assets of the Pearls group and Mr Bhangoo worth Rs472 crore. 
Mr Bhangoo, his companies PACL and Pearls Golden Forest Ltd (PGFL), as well as several thousands of his commission agents were accused of cheating 55 million investors on the pretext of sale and development of agriculture land.
The companies made false allotments of land to investors. However, the companies never owned any land in their own name.
Mr Bhangoo and his companies promised the investors that allotment would be done on their investment between 90 and 270 days and, if not, handsome returns would be paid.
You may also want to read our coverage on PACL scam here… 
1 week ago
Sir i have invested 1,00,000 sir i have all the documents when I get my money back, and my mobile number 8074500085 plz any update plz contact me
2 months ago
Sir, I have invested 20,000, i have all the documents when i get my money back ,how long we have to wait to get our money back ....and not mobile up date..

3 months ago
I have invested 10000 rupees in pacl on 2008 no any updates where are refunded my policy number U174166773 please check and update me 8285636669 Mithlesh
3 months ago
Sir I have invested Rs 21000 in pacl company..but till now no message is received on my mobile no.. plz give solution
3 months ago
Sir , we have invested money and date is already gone more 7 years over the date &already submitted orignal copy to bandra office and also given customer application to SEBI regarding PACL invested refund amount please help us to get our own money back THANK YOU
3 months ago
Sir, I have invested 90,000, i have all the documents when i get my money back ,how long we have to wait to get our money back
3 months ago
sir mera 25000 hazar fasa
hai Kabtak mileage
4 months ago
How to update the mobile number and when we can get the money, already original certificate handed over to company in 2012, only I have acknowledgement, and invested 1, 32, 000 rs.
4 months ago
Sir,I invested 15000rs in pacl , but I don’t have documents, how to get my money, and where to complain help
4 months ago
Dear sir
Sir mera name hai Vinay Kumar main PACL pidit hun or mere ko Lodha commity ke taraf se abhi tak SMS prapt nahin hua aur na hi Mera Paisa wapas aaya meri policy ?7500ki thi.
Sir please help mee
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