Extension of the last date for submission of Original Certificates for Refund August 31, 2022
The Justice (Retd.) R. M. Lodha Committee (in the matter of PACL Ltd.) (the “Committee”) vide public
notices dated March 27, 2022, and April 12, 2022, had called for original PACL Registration Certificates from eligible investors with claims between Rs. 10,001/- and Rs. 15,000/- who receive SMS from the Committee requiring submission of the same. The last date for submission of original certificates was June 30, 2022.
The Committee has now extended the last date for submission of original PACL Registration Certificates to August 31, 2022. Investors who have received SMS from the Committee requiring submission of original Certificates are requested to forward the same by Registered Post/Speed Post so as to reach latest by 5:00 pm on August 31, 2022, to:
PACL users had been waiting to get back their invested amounts ever since the company in question was blacklisted and declared a fraud by SEBI. A committee was formed to look into this matter and start the refunds process post which SEBI India called for applications from claimants whose invested amount was not more than Rs. 2,500. Now, SEBI India has invited claims from investors whose claiming amount was above Rs. 2,500. Earlier April 30th, 2019 was the last date for filing claims for the second round of refunds but now it has been extended to July 31st, 2019.
31st July last date for claiming PACL Refunds
- SEBI India has extended the last date for registering PACL claim applications. Now, 31st July is the last and final date till which claimants can register for refunds.
- This has been done mainly because of the fact that a large chunk of people was accessing the site which made the ‘Registration Form’ and ‘Login’ pages slow to load and hence the PACL site was not working properly.
- Due to this dysfunctionality, many investors could not register their claim applications and so, SEBI decided to extend the date for a few more days so that investors can file their claims.
Thus, PACL claim applications are now open till July; investors can head to the registration portal and file their claims now. Also, the faster the claim applications would be filed, the faster will be the estimate of refunds to be credited.