What PACL investors should do to get their money back
Moneylife Digital Team 12 October 2015
In response to a query on behalf of Moneylife Foundation, SEBI has outlined what PACL investors need to do to get their money refunded following the regulator’s orders against the company 
 
In a path breaking order, market regulator Securities & Exchange Board of India (SEBI) had ordered PACL formerly Pearls Agrotech Corp Ltd, a collective investment scheme to refund a colossal Rs49,100 crore collected from investors over several decades in a land purchase scheme. However, the order has left investors in a panic and unclear about how to get their money back. It is important for investors to know that those who file and record their claims quickly have a better chance of getting their money back. 
 
In response to a Moneylife Foundation request, a deputy general manager (DGM) of SEBI has clarified as follows: 
 
It may please be noted that Hon’ble SAT in its order dated 12 August 2015 had directed PACL to wind up its existing schemes and refund all investors within a period of three months. The said time period will end on 11 November 2015. Recovery procedure can be initiated only after expiry of above period and after attachment of assets.  
 
As regards the freezing of bank accounts of the company, it is understood that the Central Bureau of Investigation (CBI) is conducting an independent inquiry. As per media reports CBI in February 2014 raided PACL premises and seized data and papers relating to money and property of PACL.
 
As far as the suggestion to create an online mechanism for registering PACL investor’s requests is concerned, it may be noted that investors can register their complaints on SCORES platform (http://www.scores.gov.in/Complaint.aspx?flag=n). Since PACL Ltd is an unregistered/ unlisted entity, it does not have a SCORES Login ID due to which the complaints received on SCORES cannot be sent directly to the company electronically. However, such complaints are printed by SEBI and sent to the company for redressal.
 
Further, regional and local offices of SEBI are currently receiving complaints against the company, which are then sent to the entity at its registered address for redressal. The investors can also send their grievances to the nearest SEBI office, the addresses of which are available on the SEBI website.
 
 
On 6 October 2015, Moneylife Foundation had written to the SEBI Chairman as follows: 
 
We congratulate SEBI for its dogged effort to bring various Ponzi schemes to book and for your orders asking PACL to refund depositors’ money in a short and finite timeframe. However, ever since the SEBI order, many depositors are running from pillar to post trying to figure out the process of sending their requests for refund. 
 
We request SEBI to create an online process for registering PACL investor’s requests. Many of the investors seem to be from rural areas like Parbhani, so an alternative way of physically depositing their requests in SEBI offices across the country, and some public awareness in this regard would also be helpful. 
 
Requesting a quick solution from SEBI in this matter, the Foundation also cited several examples from PACL investors seeking refund from the company.
Kanhu Charan Sahoo
8 years ago
My father has invested money in pacl and has complete abount an 3 year ago but we have not recieved money till now plzz i requested to you plzz give the money and what should i do to get received the money. For any information please email me [email protected]
Arvind chaturvedi
8 years ago
My mother has invested money in pacl for her Treatment tume has complete abount an 5 year ago but we have not recieved money till now plzz i requested to you plzz give the money and what should i do to get received the money
Abhilasha Sooraj
8 years ago
My father has invested money in PACL till the invested time completed. But we have not received the money what should we do to get it back
Khushboo Kashyap
8 years ago
We are invested money in pacl company in 2011.
Now , our investment time is completed and I request you give my invested money . We need so much .
Give me all related information in my contact no. 8373939744.
Thanking you
rose mercy Samuel
8 years ago
I invested in pacl recently I have asked to send details via post after that I don't have any idea what's going on recording with hope that I get some information
Thank you
Lavkush Kumar
8 years ago
Suryamani davi
Rahmathunnisha cn
8 years ago
Sir, I deposited my saving money pacl indian limited 7 years. Please i need my money very argent..
Please must replay
Rahmathunnisha cn
8 years ago
I am a investor in PACL LTD. Can I get money back and how!
Devapunnaiahgupta Muppidi
8 years ago
Let me know when will be commenced to repay the deposited amount.
rajesh rawte
8 years ago
I want my invested money back which I invested in PACL.. What should l do?
Rahmathunnisha cn
8 years ago
my policy has been matured please help me how can i get my money
Antony Bernad
8 years ago
My policy got maturity.. Sum ant is 100000, may I know when I get the refund amt..
Ravi Chandini
8 years ago
RAVI S/O EREGOWDA 43.640 RS IN PACL CAN ANY ONE TELL ME WHAT IS THE PROCEDURE TO RECOVER MY MONEY BACK PLEASE MY NABAR 9880578353
Jatinder Atwal
8 years ago
Hi I invested 300000Rs in pacl . Can any one tell me what is the procedure to recover my money back. Please contact me on +919779290861. Thanks
Vijay Chaudhary Kachure Pradhan
8 years ago
Pacl ka paisa vaapas milna chahiye sabka
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