Madras High Court: No Appeal Lies Against E-Court Status or Adjournment Orders  ||  Chhattisgarh HC: Judicial Officer Promotion Cannot be Denied on Complaint Without Disciplinary Action  ||  Delhi High Court: January 1 as Deemed Service Date For Delhi and Andaman Civil and Police Officers  ||  Delhi High Court: Private Media Houses Performing Public Functions are Subject to Writ Jurisdiction  ||  Rajasthan High Court Orders Registration of Pets That May Pose a Threat to Human Life  ||  Delhi High Court: NSE Qualifies as a Public Authority under the RTI Act  ||  Bombay High Court: Sikh Exemption From Helmet Rule is a Reasonable Classification under Article 14  ||  Supreme Court: Advocate Cannot Enter a Compromise Without the Client’s Authorisation  ||  Calcutta High Court: State Must Protect Every Accused From Mob Violence  ||  Supreme Court: Gujarat Municipal Election Candidates Must Disclose Their Spouses’ Assets    

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