A real estate company, Pearls Agrotech Corporation Limited (PACL) ditched the investors and collected more than Rs. 50,000 crores from them. The investors were duped and they never got the land they were promised. When this scam came to light, SEBI and the Indian Government looked into the matter and the proceeds of the case were handed over to the Justice R. M. Lodha Committee. The Committee had invited claims from the PACL investors and also planned to recover the entire amount by selling off various scattered properties of PACL.
Sources of Funds Recovery
- The Committee had earlier mentioned that it will adopt the following recovery process to refund the investors:
- 1121 PACL FDRs with 23 Banks
- Rs. 16, 86, 98,766 recovered from Systematic Venture Capital Trust (until 06.01.2017)
- Rs. 72, 37,393 collected from PACL hotels
- 100 million collected from other PACL properties in Australia + Sheraton Mirage Hotel worth 170 million
- 100 million Australian Dollars which equals to Rs. 5,23,14,20,000 generated from various scattered properties of PACL in Australia
- Sheraton Mirage Hotel situated at Gold Coast, Australia worth Rs. 8,89,34,14,000. The Australian property/assets of Pearls come out to be more than Rs. 1, 400 crores in total.
SEBI Refunds more than 1 Lakh Investors
In the month of February this year, the Lodha Committee appointed to look into the matter of Pearls real estate property scam, invited refund claims from investors, a process which was open till March 31st, 2018.
After that, a lot said and done by the SEBI, investors and the Government, refund process finally kicked off as the Lodha Committee remitted refunds to the PACL investors whose claiming amount was up to Rs. 2500.
The latest news on the official website of SEBI says the Lodha Committee has till date refunded 1, 13,353 PACL investors based upon the details mentioned in their claim applications.
SEBI likely to get Rs. 1400 Crores in January 2019 from PACL’s Australian Property
Now that the Australian Federal Government has accepted the petition filed by SEBI (dated July 20, 2018) seeking the sale of the property/assets of PACL in Australia, the investors can now get a sigh of relief. All the property/assets of Pearls raised in Australia have been sold by the Federal Government and money has been acquired.
According to few reports, SEBI is likely to receive 270 million or 14, 12, 48, 34, 000 INR next year in January from the Australian Government. After receiving this amount SEBI may start the second round of refunds. Therefore, the investors whose claiming amount was more than Rs. 2500 might get their refunds back real soon.
For initiating the next round of refund process, SEBI might ask the remaining 5 crores investors for the entire details just like they released the claim application forms for refunding the claimants with Rs 2500 amount. The refund application form might be available on SEBI’s official website where claimants can file their refund claims. The wait will finally get over as and when SEBI releases something officially.
Other Investors still waiting for Refunds
Though the refund process has started and some investors have been refunded but still there is a long way to go if we look at the number of investors who are still waiting for their money. It is very clear from the number of properties PACL had acquired, that they there is ample amount of money (Rs. 8500 crores) which can be used to refund all the PACL investors. Now, it is up to the Lodha Committee and SEBI to refund the investors. They already took 7 – 8 months in refunding the claimants with the principal amount of up to Rs. 2500. The investors with this amount were very few, even then it took so long, so the rest of the investors (more than 4 crores) can calculate the time period in which they will get their refunds.
Conclusion
Pearls scam is a wakeup call for all the investors looking to invest in real estate. These scams discourage people from investing so the Indian Government needs to take stern steps to curb this menace. It is really the need of the hour as not investing anything will eventually lead the Indian economy to a sudden decline. Investors should be given protection regarding these frauds and strict rules should be formed to save them from getting duped for life.
Tags: how to get money back from PACL, PACL India Limited Latest News, PACL India limited Refund, PACL Lodha Committee Latest News, PACL News Refund 2019, SEBI Committee Pacl Refund
Pacl refund karna hy
Pacl refund karna hy ab b thak nai milla
If you are amount is 2500 then please wait for few more months.
ನಾನು ತಿಂಗಳಿಗೆ1100ರೂಗಳನ್ನು ಕಟ್ಟೂತ್ತೀದ್ದೇ40ಕಂತುಗಳು ಕಟ್ಟೀದ್ದೇನೆ ನನಗೆ ದುಡ್ಡು ಯಾವಾಗ ವಾಪಸ್ ಬರುತ್ತದೆ ಅದು ಹೇಗೆ
you refund will start in next year…you are eligible in second round of refund.
My refund amount is more than 2500 rupees and when it is get
Hi good afternoon sir,
I am from a small village called Maradagi , which is in Dharwad district of karnataka and in my village so many people has applied for refund which 2500 rupees but still we have not received any refund, can you please tell us how we will be receiving the amount in the form of check or how? And when?
Hello sir,
My relation didnot apply for claim till now since the deposit maturity date is on 2019. So how to claim the amount. Please help me in this.
Forget about the maturity date..Now the company is marked as scam..you just need to apply for the refund..if your amount is less than 2500 rs then you need to call SEBi at toll free number and if you have invested more than 2500 rs ..then you have to wait few more month as you will be eligble in second round of refund process.
How mamy days it will take for amount less than 2500
Hi Sir,
Can i have the SEBI toll free number please?
I have paid Rs. 37500/- My maturity date was 31/10/2015. so when will i get my refund.
When is the next refund date. Please update the details in email
when i will get my money i deposited to pacl 50000/- the maturity date also over last year
when i get money pls reply
Sir
Am in kerala
Lot of money i invest pacl. What is the procedure to get back the money. Pls help me sir.
When will second round of refund happen? Pls confirm.
Hi sir, pacl l have invested 250000 RS year of 2007, maturity period is 10 years 2017 completed, but company closed they ran away. When I will get my money back.
can you conferm month for invested more than 2500 rs
I am invested Rs.2500/- When can i get my money…
Dear admin
We don’t know the details for refund earlier and we haven’t claimed for refund before march 2018 ,is there any opportunity to claim refund now
When will start the deposited money refund.
Below 50000 amount start date tell mi
I am a agent I am so worried because public not understand so please tell me about payment IAM at the stage of sacrifice please tell me about my safety what do ido
Hi sir.. I have applied for claim which is 2070rs, I got message that amount has been refunded.. but still I didn’t get credited to account. Does it take time to credit ?. I got message on October 29th..
Around 6 lakhs i have invested in PACL . Kindly let me know when will i get the refund.
My total claim is more than RS.2500
Less than RS.30000.
When can I expect to receive my refund
Hi Sir,
When will start the deposited money refund.
When will pack refund my money approx 35000 one. Tell me please
SIR I ALREADY SUBMITTED MY TOTAL DOCUMENTS TO PACL THANE BRANCH AFTER MATURITY DATE , BUT ITS BECAME 2 . 5 YEARS BUT I DIN’T GET MY MONEY
ITS AROUND TOTAL RS. 65000/- WHEN I WILL GET THE SAME ,& WHAT IS THE PROCEDURE FOR REFUND . PLEASE HELP
Second round kitne rupees tk ka hoga ?
Hello sir,
We are not get any refund amount. Please let me know when it’s done. Because we are facing lot of problem from people. Please do the needful.
I and my mother Invested monthly Rs.1100 before 6 years for the period of 4 years. How we refund the Amount?. Please Email to me. Thank You
Hello
Could you please tell me when second round will started
Garibo ka sir paisa vapash kar de
Sir, My Reg.No.U1672161800, date of commecement 10.05.2011. Expiry date of agreement is 10.11.2016. Agency code 1673502638. Agency unit code 1678750006. The amount of Rs.50,000/- Bond. Per month 800/- I paid. I did not get any money. I am very poor. I shall be thankful to you this, I would like to get the money back ask early as possible.
I am not sure where you are getting your info, but great topic. I must spend some time learning more or working out more. Thank you for great info I was in search of this information for my mission.
Halo sar my amount RS 3300/ please helping
when the refund of money investment of more than 2500 Rupees
the people who have invested money asking the agents
when the refund of more than 2500 rupees starts
In general all the Indian financial institutions are becoming a nightmare for investors who invest their hard earned money with trust and hope. These unethical and illegal cheaters should be punished severely. If they do not have ability to manage they should not accepted the investments.
I am very confident that the investors pain and agony will certainly hunt and hurt those criminals and their families.
ನಾನು ತಿಂಗಳಿಗೆ 800/- ರೂಪಾಯಿ ಕಟ್ಟಿದ್ದೇನೆ. ನನ್ನ ಹಣ ಯಾವಾಗ ವಾಪಸ್ ಬರುತ್ತೆ ಎಂದು ದಯಮಾಡಿ ತಿಳಿಸಿ. 9945914088
Hi,
my investment in this is more than 50k, what is the procedure to be followed for the refund.
Let me know.
I paid rupees 400 per month.. so when i have to claim for refund.. last time i tried to claim but it showed error.. so.. and also confused tat 2500 is yearly amount.. or monthly amount..please reply..
Due to this so many family issues occured….
Can u please suggest someone whom we could talk and could find detailed information about this?
Dear sir, Almost out of 4.5 crores of investors, only one and half lakhs investors claimed Rs.2500/- as refund by committee declaration. Remaining investors in terms of crores in number can claim refund more than 2500 or more only after sale of entire properties of Pacl worldwide..Could this possible within this year 2019 or may take more time?. Because selling proposal seems very slow..Even after one year of refund of 2500/- no further public notice has issued by committee..it’s really very pathetic condition of investors only because of Sebi lethorgic activities such as non control measures over fraudlent agencies and no blocking initiatives against them..
My monthly premium is 1100 i paid 4 1/2 years when will i got my money sir
please all amount refund please all people poor please
ಸರ್.
ನಾನು ಸುಮಾರು 50 invester investment customer very much torching . whenever refund amount sir.
Please immideat solowed my problem.
My contact number is 9750239304. I invested in four PACL certificate each of Rs.1,25,000 during November 2008.. Two investment in my name and other two in my wife name Shanmugapriya V.S. The total investment is Rs.5,00,000. PACL assured me to give the maturity amount of Rs.2,80,000 for each investment at the maturity time November 2015. I surrendered the certificate during November 2015 at PACL office located at Erode, Tamilnadu. They give me receipt for each investment. Till now I am not able to get the amount. Can you please tell me the position of refund?
Sir my wife invest rs 40000 in pacl but i didn’t submit till date. when will i submit the application?…
Sir my wife invest rs 40000 in pacl but i didn’t submit till date. when will i submit the application?…
SEBI please release PACL amount we are weighting
Sir
I have invested in many policy like 40000,. 20000, 10000,. 15000 etc some policy will mature in 2019 and some in2020and 2021. Then how can we get all money invested in? Will it be with intrest or without interest? please guide me.
My deposit amount is 6lakhs deposited in 2011..matured in 2018april.when can i apply for refund and is there any interest for the deposit?
Mere paisa kab milage.paisa milenakaliye kya documents chahiye bathavo gi.
Sir refund kab milaga 4 mouth li instolment 12500 paid
Hi sir i am already submitted, how can do this refund amount ,please say something.
Dear Sir
I have already submitted my documents to PACL on 27.05.2015. I have received the acknowlegement. But still now amount not yet credited. When it will i get my money
Dear Sir,
pacl refund kab tak milega
Sir my name karunanithi my clearance details
The clients are pressuring me about the refunding date. I hope that you would announce the date soon
Hi I invested amount of 19000 in PACL. When will they initiate the process of refund. If so what is the procedure. Should v submit refund form Online for making claim.
Regards.
Please help how apply online pacl
In this 2500 rs is a monthly due amount or toltal policy amount?
🌹🌹बड़ा भुगतान कब से शुरू होगा अति शीघ्र बताने का कष्ट करे।
Dear sir,
my name is wilson v j i am 3 year invested your company 2012 to 2015 how to refund my money please help me.
thanks regards
wilson v j
8086086132
When will second round of refund will be processed?
Dear Sir,
How to apply for the refund of the policy amount through by manual. We are deposited in Madurai, Tamil Nadu. Because Online application take with a long time & error shown. give a conclusion.
Paise agle janan milenge kya.
मेरा पैसा भी फंसा है जो सेबी की तरफ से वेवसाईट उपलब्ध कराई गई है ओ खुल नहीं रही है
My investment was 6 lakhs, have tried to register the claims for 10 certificates each of rs. 62500. Toll free number not working. Any hope to get the refund
Sir,
Can we get the claim with the bond only (receipts unavailable).
Yes you can apply with bond policy
When should we claim amount more than Rs.2500/. Sir.
Apply now
Sir, I have deposited 1lakh 65 thousands and still not getting please reply.
can we getr a sebi contact number
We have provided the number on website
sir as i submited original bond to the company they give acknowledgement slip ,can i upload acknowledgement as a pacl certificate?
Whatever you have please apply for refund.
Pls send to your web site
Hi Sir,
Rs.40K invested by my father in law on my wife name but it was on her nick name but her real name is different.
Have nick name on Bank pass book and Ration card
Have real name on Pan card and Aadhar card
Please suggest how to claim?
Hi,
My brother in law don,t have pancard to apply online refund process. What is the alternate way for him.
I have already sent application for refund along with bank passbook and Aadhaar card how to check it my status
My 50000 RS kya refund honga aur kya karne hoga
vill singni post lalpur kalan tanda rampur up
Hello sir,
I am Arukani. When you return for amount. I am deposit for 50000 thousand. Please help me sir. 7639599235 this my number. You not release the amount susaited for me how many years sir so please understand
SHYAMA DEVI F/H SRI RAM SOHAG ROY VILL.MOGLANICHAK PO.KASHOR VIA.WARISNAGAR DI SAMASTIPUR PIN CODE 848133
Please help refund amount pacl
Nanu.50000/kattiddeni yavag barutte
Hi sir,
I invested 500 as per month for 5 years .If we claim money is it requires any bonds or receipts??pls tell me
Hi sir,
I invested 500 as per month for 5 years .If we claim money is it requires any bonds or receipts??pls tell me
Wab are very slow give us another strong side
Sir,. We have deposited monthly 320 for totally 66 months ie 5 1/2 years and we finished the amount..still we not get any money from them…how can we get that? Is there any procedure to get back our money.. thanks you👍
PLS REPLY THIS MAIL THE PACL SOFTWERE IS VERY ISLO PLS WHY
I dont have pan card .how we can get over money.
We have paid rs1600*60 months but till now no result when we will get our money back
When will we get the amount sir… Plz inform me… How many days will get money
I have released the Plot payment more than 40 lac in Sector 100 SAS Nagar Mohali -Punjab but didn’t get nay possession offer . Pl advise the concern to issue possession offer to start construction .
Dear sir my mom was take 2 policy one is all instalment is deposited and then we got a acknowledgement receipt when will come our full estimated realisable amount pls tell me. And another one policy 3 instalment deposited pls give our amount