Allahabad HC: Victim Compensation under POCSO Act Cannot be Withheld For Lack of Injury Report  ||  MP HC: Diverting Goods From Delivery Point is Misappropriation under S.407 IPC  ||  Delhi HC: Bar Associations are Not ‘State’ under Article 12 as They Do Not Perform Public Functions  ||  Delhi HC: Pending Probate Proceedings Do Not Prevent Filing FIR For Alleged Will Forgery  ||  Ker HC: Dismissal For Default Alone Cannot Justify Rejecting Restoration Plea For Lack of Vigilance  ||  SC: Disclosure Statements Alone Cannot Secure Conviction Without a Complete Chain of Evidence  ||  Supreme Court Orders Reporting of Student Suicides and Bans Denial of Classes or Exams  ||  SC: Govt Can Exclude Overqualified Candidates From Posts Requiring Lower Qualifications  ||  SC: Contracts to Hire Global Speakers For Media Summits are Not Taxable as Event Management Services  ||  SC: Mandatory Injunction Suit Alone is Not Maintainable When Plaintiff’s Title is Disputed    

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