SC: Disciplinary Proceedings Cannot Follow if an Officer is Discharged on the Same Charge  ||  SC Clarified the Distinction Between Arbitration “Seat” And “Venue” While Summarising Key Principles  ||  Supreme Court: Wife and Her Family Cannot Be Prosecuted For Dowry-Giving Based On Her Complaint  ||  SC: Plaint Cannot Be Rejected Under Order VII Rule 11 CPC on the Ground of Order II Rule 2 Bar  ||  Supreme Court Has Issued an SOP Prescribing Strict Timelines For Filing Legal Aid Appeals  ||  Madras HC: Dhurandhar 2 Release Cannot be Stalled Due to Objections From a Small Section  ||  Delhi HC: Lokpal May Form Prima Facie Opinion Before Show Cause Notice Without Prior Hearing  ||  Bom HC: Family Courts Cannot Casually Order a Spouse’s Medical Examination to Assess Mental Health  ||  Bombay HC: Child Care Leave Protects Motherhood and Denial Violates Rights of Mother and Child  ||  Supreme Court: Amalgamating Company Loss Cannot be Set Off Against Amalgamated Income    

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