SEBI to pay PACL investors upto Rs2,500 if they apply in prescribed form
Market regulator Securities and Exchange Board of India (SEBI) said the Justice RM Lodha Committee appointed by the Supreme Court has decided to pay total outstanding principal amount of Rs2,500 to investors of PACL Ltd (erstwhile Pearls) after selling some properties of PACL.

"It is clarified that refund may not necessarily be Rs2,500 per claimant investor, and would be effected on a pro-rata basis after considering the number of claims received as well as the funds available with the Committee," SEBI said in a release.

Earlier on 27 November 2016, the market regulator, while informing the process to claim refund (for investors of PACL) made it clear that the Committee would initiate refund process only upon realisation of a sizable amount. It had said, "In such case, investors would be required to file their claims only in the prescribed format upon specific notification by the Committee. Till such notification, investors are requested to retain their documents with themselves and not to part with them for any reason whatsoever."
 
The Lodha Committee is supervising the Supreme Court ordered process of selling PACL's assets across the country and refunding Rs49,100 crore collected from over 56 crore investors. The money to be refunded to the investors was allegedly collected by PACL and Pearls Golden Forest Limited - two companies belonging to Nirmal Singh Bhangoo-managed group - in the name of sale and development of agricultural land.
 
Investors whose total outstanding amount (Principal) with PACL is up to Rs2,500 (per investor) are advised to send the following details by way of an SMS at 562632 or by uploading the same on the website http://sebicommitteepaclrefund.com/ for receiving refund of money invested:
 
Name of the investor as per PACL Certificate, 
Amount claimed (in rupees), 
Claimant’s mobile number,
PACL Scheme Payment Registration number,
Scanned copy of PACL Certificate,
Aadhaar/ Pan Number,
Bank account number and IFSC code,
Whether land has been allotted to the claimant investor by PACL,
Scanned copy of PAN Card / Aadhaar Card, and
Scanned copy of the latest Bank Statement showing the last three transactions.
 
The applicants should ensure that the latest Bank Statement uploaded clearly shows the name, address, bank account number and IFSC code, according to a release from SEBI (Securities and Exchange Board of India).
 
In this respect, a demo video illustrating the process for making an application for refund is provided on the website http://sebicommitteepaclrefund.com/  and the same may be viewed before making the status of their applications for refund. Investors can also call on <044-395-71985>.
 
The investors are further cautioned against parting with their original PACL Registration Certificates, unless on specific intimation received from the Committee. The last date for receipt of applications for refund is 28 February 2018.
 
We tried seeking help from SEBI so that we can help investors who want to file refund claims offline, but there is no response from the market regulator. This means, all those who are seeking refund, need to file claims on their own on the website http://sebicommitteepaclrefund.com/.
 
Lakhs of investors who put their hard earned money in PACL formerly Pearls Agrotech Corp Ltd, a collective investment scheme (CIS), have been in a panic about the fate of their investment after the company has been ordered to refund their money. It may be recalled that this company has raised a whopping Rs49,000 crore from people across the country, claiming to have bought them a stake in land, like a land mutual fund. PACL has also used India’s slow legal system very effectively to delay regulatory action for several years, while it continued to collect money from people. In fact, it has doubled the money raised, even after SEBI began action against it.
 
You may also read:
 
 
 
 
 
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    COMMENTS

    Raju Chetia

    2 years ago

    Sorry, the PACL number you provided has already been submitted.
    To know the status, please call 044-39571985.

    How to re apply, amount correction

    ASHWANI FRANCIS

    2 years ago

    मेरे 3000 रुपए है वो कब तक मिलेंगे plz send some detail on my number 7409285524

    Venkatesh Yata

    2 years ago

    Sir rs5000 pacl when is coming.pls detail to my num 9640930397

    Kumar Mallipudi

    2 years ago

    Actually 1step successfully finished and send a SMS but SMS not received next what I am doing plz give me solution

    Premakumari Prema

    2 years ago

    I'm a customer of pacl India LTD &my policy number u.247286063.my policy expiry date 16/02/2014i want full details

    deepak guar

    2 years ago

    Sir payment kab Ho rha he yr mera number h plz inform detal

    REPLY

    deepak guar

    In Reply to deepak guar 2 years ago

    7503555481

    Sunil Rathodiya

    2 years ago

    563632

    Shreepriya 421

    2 years ago

    How to cancel the refund

    Sayed Kadarmohiddin

    2 years ago

    Sir my 2015 mea band dechuka Hu meare passé. Risipt. Hai. Kaisa. Aplay karna.

    Dashrath Das

    2 years ago

    Sar Mera total rifand 37500 hai to Kab tak clear hoga

    Dashrath Das

    2 years ago


    My mobile no. 7006924672

    Dashrath Das

    2 years ago

    Hii am agent of pace, I am form to kathua (j&k) know I don't, have some customers bond i gave to my senior he miss pleased, and some bond I submitted to office I don't have photo copy also. Please give me solution for this problem I am writing for your solution.

    Pooja Arun

    2 years ago

    Hi i am agent of PACL, I am from Karnataka, know i don't have some customers bond, i gave to my senior, he miss pleased, and some bond i submitted to office i don't have photo copy also. Please give me solution for this problem i am waiting for your solution.

    Panjab Jadhav

    2 years ago

    SIR I AM AN INTERNET SHOP OWNER LOTS OF PEOPLE IS COMING FOR REGESTRATION IT IS SHOWING ALREADY SUBMITTED BUT THEY ARE SAYING THEY DIDNT DO ANYTHING

    Panjab Jadhav

    2 years ago

    my contact no 9595853005

    SEBI allows exchanges to trade in stocks and commodities from October 2018
    Market regulator Securities and Exchange Board of India (SEBI) on Thursday decided to allow all stock exchanges to trade in stocks and commodities from October 2018 in two phases. This will allow BSE and National Stock Exchange (NSE) to offer commodity products on their platform.
     
    Ajay Tyagi, Chairman of SEBI, said, "Phase 1 will cover integration at intermediary level. In Phase 2, necessary steps would be taken to enable a single exchange to operate various segments such as equity, equity derivatives, commodity derivatives, currency derivatives, interest rate futures and debt. To permit trading of commodity derivatives and other segments of securities market on single exchange, the Board approved proposal to remove restrictions by making suitable amendments to Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporation) Regulations 2012, which will be effective from 1 October 2018".
     
    Responding to a specific query on SEBI not placing Regulations or Amendments before the Parliament, Mr Tyagi admitted an 'oversight' especially while placing the SEBI (Prohibition of Insider Trading) Regulations, 2015. He, however, said that SEBI had already forwarded the Regulations, passed by its Board in 2015, to the Ministry of Finance for placing it before the Parliament. "We have also asked our Legal Department to carry out monthly review on all Regulations and Amendments that have not placed during the Parliamentary session," he said.   
     
    SEBI also tweaked norms on mutual funds to avoid conflict of interest. Accordingly, sponsor of one mutual fund cannot have 10% or more shareholding and representation on the Board of another mutual fund house, the SEBI Chairman said.
     
    While accepting that there is a need to prevent the conflict of interest between advising for investing in financial products and selling of financial products, the SEBI Board decided to have a consultation paper and seek comment from public.  The Consultation Paper will have proposals, one on clear segregation between two activities like providing investment advice and distribution of the investment products/ execution of investment transactions. The second proposal seeks to make mutual fund distributor to explain features of the product and ensure principle of appropriateness of product while distributing MF products to clients.
     
    The SEBI Board also approved new norms for credit rating agencies. This includes, increase in minimum net worth to Rs25 crore from Rs5 crore, and mandating 26% minimum stake for promoter of rating agency for three years. SEBI also put restrictions on crossholdings amongst credit rating agencies. Accordingly, no credit rating agency can directly or indirectly hold 10% or more stake or voting rights in another credit rating agency. This also means one credit rating agency cannot have a representation on the Board of other credit rating agency.
     
    Credit rating agencies are also asked by SEBI to segregate their activities other than rating of financial instruments and economic or financial research to a separate legal entity.
     
    Talking about Real Estate Investment Trusts (REITs), Mr Tyagi said, SEBI is trying to simplify and rationalise norms for this. As per new changes, REITs would be allowed to invest at least 50% state in holding company or special purpose vehicle (SPV). Similarly, the holding company would be allowed to invest at least 50% stake in SPV, while keeping REITs ultimate holding interest at 26% in the SPV.
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    User

    COMMENTS

    Shiny Ceejay

    7 months ago

    When will you start issuing15,000.. Plzz inform

    Shiny Ceejay

    7 months ago

    If yur isssuing 15,000 kindly inform to [email protected]

    Shiny Ceejay

    7 months ago

    When will you start issuing15,000.. Plzz inform

    KULDEEP KUMAR

    1 year ago

    2500 rupees waale abedan kiye the unka refun or massage kab se suru ho rhe hai

    KULDEEP KUMAR

    1 year ago

    25000 Rupees se upar vaala Refund kab suru hoga

    panday pawan

    1 year ago

    Pawan Kumar Pandey Mumbai India my phone no.9923911846 & 7507105112 and email _[email protected]

    panday pawan

    1 year ago

    Sir mera 86000 Rupees hai please refund

    mahendra malviya

    1 year ago

    sir plase call me pacl payment kab ho ra h 8290171098

    rani mv

    1 year ago

    I pay to monthly premium 330 rs for 6 years how to apply for refund amount

    Rajnesh Kumar Singh

    1 year ago

    Advice Refund Form for Rs.1,04,500/- Mob.- 9816295992.

    Rajnesh Kumar Singh

    1 year ago

    I had deposited Rs.50,000/- in Jan. - 2011 for 6 years & return back Rs. 1,04,500/- on date 22-4-2017 but till date nothing has been refund. I have visited PACL Office Barakhambha Road , New Delhi for refund but it was closed so kindly arrange to refund my Hard Earned Money at the Earliest.
    Rajnesh kumar Singh , Mob.-9816295992
    House No.-494 , Sector - 37 Faridabad -121003
    Registration Letter - S.No. CX B 2437637
    REGN. NO. - 17 - 011577
    Registration No. & Date of Commencement - U079101091 & 22-1-2011
    Payment Plan No. & Term - C2-037 & 6 YR. - 3 M
    Agency Code - 0280006791 , Agency Unit Code - 0838750015

    Paean Kumar Chohan

    1 year ago

    mera contek n. 9973330557

    Paean Kumar Chohan

    1 year ago

    sar mera 50000 hajar he kab tak mile ga

    surya dev prakash

    1 year ago

    Mera 22000 ke lagbhag hai yeah paisa Kab milega or iskeliye kya Karna hoga....please help me

    Dinesh Sharma

    1 year ago

    Sir Mera 3bond h kab tak clear ho jaya ga....

    Will SEBI Enforce Strictly Segregation of Advice and Distribution?
    Market regulator Securities and Exchange Board of India (SEBI) is holding a board meeting on Thursday, which is laden with 17 items on the agenda. One of the most important ones from the point of view of savers and investors is to approve changes in the guidelines that segregate distribution and advisory services of financial products strictly. What this means is that the regulator wants financial product distributors not to advise. If they want to advise, they need to set up a separate business. This is not the first time SEBI made this announcement, but distributors continued advising their products due to unclear regulations, poor supervision and lax governance. A few months back SEBI put out a consultation paper, which argued for a strict segregation of advisory and distribution.
     
    There are good reasons, as to why distributors should not take the role of ‘advising’ investment products. This leads to conflicts of interest between the two parties due to higher commissions earned on certain products over others. For instance, closed-ended funds attract higher commission over open-ended mutual funds; equity funds command more commission than liquid or debt funds. Sectoral funds are pitched as sure-fire winners because of the distributor’s ‘forecasting’ skills. SEBI’s rule specific that for Registered Investment Advisor (RIA) should,  
     
    1. Act in a fiduciary capacity towards its clients and shall disclose all conflicts of interest
    2. Not receive any consideration/remuneration/compensation from any other person than the client for the underlying advice provided.
    3. Maintain arms-length relationship between its advisory activities and other activities (which is distribution).
    4. Disclose to the client any consideration/remuneration/compensation received or receivable by it or any of its associates/subsidiaries for any distribution or execution services in respect of the products or securities for which the investment advice is provided and
    5. Disclose any actual/potential conflict of interest arising from connection with any issuer of products, including material information that might compromise its objective of carrying on the investment advisory services.
     
    What the distributors argue is-
     
    1. Is the Indian investor ready to pay fees for investment advice?
    2. Will investors feel cheated having to pay fees for advice and also pay indirect commissions to the distributor, where both are operated at arms-length distance?
    3. Will the segregation of distribution and advisory role guarantee that the earlier prevailing conflict of interest is actually stopped?
     
    The market regulator has been evaluating global practices in the advisory business and finding ways to implement a similar strategy back home. Regulations of various jurisdictions across the globe and the impact of such a shift are being studied by the regulator. 
     
    On a different note, Association of Mutual Funds in India (AMFI), the mutual fund industry body, also took a jab from SEBI after the regulator asked AMFI to tone down its hugely successful ad campaign carrying the slogan ‘Mutual Funds Sahi Hai’.  The securities market regulator is concerned that the ads could persuade investors into buying mutual fund (MF) products without understanding the risks associated with them.
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    User

    COMMENTS

    Dinesh Meena

    9 months ago

    Sir mere bhi 2 bond h total mere bhi 225000 rupay h kab tak milenge
    Mere mobile no. 8107047803

    Santoshkumar Sharma

    1 year ago

    Santosh kumar sharma father 's name _l t jagdish mistri / buti mistri . At+post _ bakrour. Ps_ bodhagaya. Dt_ gaya bihar. Pin code _824231 . Aadhar no_ 3434 1947 4105. Bank account_ sbi10648319696 Registration no_u096627620. 08/03/2010. S.no_1345698. Agency code_0960083993. Agency unit code_ 0963501535. Mob no _9661831376

    Vijayashree A

    1 year ago

    fraud SEBI all the details are true but the message is the name and the number not matching I think this is eye wash

    Sanilsimon Edassery

    1 year ago

    9947325997 this is my mob no

    Sanilsimon Edassery

    1 year ago

    Hallo sir, I submitted Orginal certificate to pacl and I have not photocopy. Now I have recept only.so what can I do? Please give me instructions.

    Saurabh Bewal

    1 year ago

    MY MOTHER'S POLICY NO U022098347. AND SUBMITTED THE DOCUMENT OF CLAIM IN PACL OFFICE ON 1/3/2014. WE ALSO HAVE ACKNOWLEDGEMENT .THE AMOUNT IS AROUND 42000. SO WHAT WE HAVE TO DO.

    Sanjay Kumar

    1 year ago

    सेवी संस्था ने रिफन्ड की जो प्रक्रिया शुरू किया है ।वो तो बहुत सारे लोगो का पेपर सबमिट नहीं हो रहा हैं ।

    SUNEEL KAMBALE

    1 year ago

    sir i forgotten to submitt another reciept so i want to submitt that reciept also but that is showing already submitted. Is there any other solution? plzzzz help me

    Rakesh Swami

    1 year ago

    My registration no coming wrong but I have an original bond yet . Please tell reason.

    Rajkumar Shriwas

    1 year ago

    Hamari fd 20thousands and policy 28 thousands paisa kab milega

    Dolly Chn

    2 years ago

    Sir I have submitted incomplete letter of refund .so can I re apply ? If yes , what the process? Pls tell me .

    Md Robiul Islam

    2 years ago

    Call me 9083524043

    Soundar Raj

    2 years ago

    sir i already surrended the Registration letter on 24.08.2015. They gave Ack slip Registration No: U245264748. customer name : s.soundar raj

    sandeep sagar

    2 years ago

    8532979282 my account amout 7500 plz tell me may I registration pacl for refund plz call me

    sandeep sagar

    2 years ago

    my pacl account 7500 rupees plz tell me may I registration my pacl

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