Supreme Court: Expecting a Minor to Respond to a Public Court Notice is ‘Perverse’  ||  SC: Order 23 Rule 1 CPC Applies to S. 11 Arbitration Act, Barring Fresh Arbiration After Abandonment  ||  SC: Later Sanction Requirement Won’t Invalidate Cognizance Taken When No Prior Bar Existed  ||  SC: Documents Not Admitted by an Employee in an Enquiry Must be Proved Through Witnesses  ||  Delhi HC: MHA Has Authority to Initiate Disciplinary Proceedings Against AGMUT IAS Officers  ||  MP HC: Financial Hardship or Mere Allegations of Lawyer’s Negligence Cannot Excuse Delayed Appeal  ||  Patna HC: Blanket Approach of Denying Public Employment to Individuals Named in an FIR is Unfair  ||  Kerala HC: Repeated Possession of Even Small Quantities of Narcotic Drugs Can Invoke KAAPA  ||  Calcutta HC: Employers May Deduct Penal Rent From Gratuity of Employees Refusing to Vacate Quarters  ||  Calcutta High Court: ECI Not Singling Out Bengal, More Transfers in Other Poll-Bound States    

Remittance of Refund Amounts to Investors of PACL- (Securities and Exchange Board of India) (10 Oct 2018)

MANU/SPRL/0046/2018

Capital Market

SEBI in compliance of the order dated February 02, 2016 of the Hon'ble Supreme Court of India in the matter of Subrata Bhattacharya V. Securities and Exchange Board of India (CA No. 13301/2015) and other connected matters constituted a committee under the chairmanship of Hon'ble Mr. Justice R.M. Lodha, former Chief Justice of India, for disposing of the properties of PACL Ltd. so that the sale proceeds can be paid to the investors, who have invested their funds in PACL Ltd. (the 'Committee').

The Committee, thereupon, in pursuance of its mandate started the process of receipt of claim applications, at the first instance, from investors having claims of not more than Rs. 2,500. The said process was open till March 31, 2018.

In furtherance thereof, the Committee has started remitting refunds to investors after verification of the claim applications as received. Till date refunds in respect of one lakh thirteen thousand three hundred and fifty two (1,13,352) claim applications have been credited to the bank accounts provided by the investors in the claim applications.

Tags : REMITTANCE   REFUND AMOUNTS   INVESTORS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved