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As many as over 1.27 million investors of PACL Ltd, with a claim of up to Rs10,000, have received more than Rs438 crore, says market regulator Securities and Exchange Board of India (SEBI).
The Justice Lodha committee is supervising the SC-ordered process of selling PACL s assets across the country and refunding Rs49,100 crore collected from over 55 million investors.
As on 31 March 2021, the committee has successfully effected refunds in respect of 12,70,849 eligible applications (with claims up to Rs10,000) aggregating to Rs 438.34 crore, SEBI says.
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.
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As many as over 12.7 lakh investors of PACL Ltd, with a claim of up to Rs10,000 have received more than Rs438 crore, says market regulator Securities and Exchange Board of India (SEBI).
The Justice Lodha committee is supervising the SC-ordered process of selling PACL s assets across the country and refunding Rs49,100 crore collected from over 55 million investors.
As on 31 March 2021, the committee has successfully effected refunds in respect of 12,70,849 eligible applications (with claims up to Rs10,000) aggregating to Rs 438.34 crore, SEBI says.
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.