Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report  ||  Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act  ||  SC Holds Landowners Who Accept Compensation Settlements Cannot Later Seek Statutory Benefits  ||  Supreme Court: Endless Investigations and Long Delays in Chargesheets Can Justify Quashing  ||  Delhi HC: Arbitrator Controls Evidence and Appellate Courts Cannot Reassess Facts  ||  Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint  ||  Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint  ||  Delhi HC: Economic Offender Cannot Seek Travel Abroad For Medical Treatment When Available In India  ||  SC: Governors and President Have No Fixed Timeline To Assent To Bills; “Deemed Assent” is Invalid  ||  SC: Assigning a Decree For Specific Performance of a Sale Agreement Does Not Require Registration    

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 2025 - All Rights Reserved