FAQs for PACL refund- (Securities and Exchange Board of India) (28 Mar 2016)

Capital Market

The Securities and Exchange Board of India hopes to preempt the scrum of PACL investors waiting impatiently to receive refunds.

The Supreme Court’s recent decision to constitute a committee to take possession of title deeds of PACL properties to sell the same to effect refunds to investors has raised questions about how monies will be distributed and what is required of investors.

In its ‘Frequently Asked Questions’ document, SEBI addressed the basic questions it expects investors to have about the process. Among the advice tendered, investors are asked to hold on to the original investment documents and to “not yield to any pressure from any person, including PACL or their agents, for converting…existing investments to other Schemes”.

Tags : SEBI FAQ PACL REFUND