Public Notice and Appeal to the Investors of Pacl Ltd.- (Securities and Exchange Board of India) (22 Feb 2017)

MANU/SPRL/0014/2017

Capital Market

It is brought to the notice of the General Public that in compliance of the order dated February 02, 2016 passed by the Hon'ble Supreme Court of India in Civil Appeal No.13394/2015 titled as PACL Ltd. Vs Securities and Exchange Board of India and other connected matters, a Committee has been constituted by SEBI under the Chairmanship of Justice (Retd.) R. M. Lodha, Former Chief Justice of India for disposing of the properties of the Company viz. PACL Ltd., so that the sale proceeds can be paid to the investors.

In compliance of the above mentioned order, the Committee vide public notices dated 27/08/2016 & 30/09/2016 invited Expression of Interest (EOI) from the public at large on the properties of PACL Ltd. Further, vide public notice dated 27/11/2016, the investors were informed that the process of auction is underway in terms of the said notice dated 27/11/2016.

Vide the aforesaid public notice dated 27/11/2016, it was also informed that the process of refund would be initiated upon realisation of a sizeable amount by the Committee. In such case, investors would be required to file their claims only in the prescribed format upon SPECIFIC NOTIFICATION BY THE COMMITTEE. Till such notification investors are requested to retain their documents with themselves and not to part with them for any reason whatsoever. The Public at large is further made aware that in terms of the above mentioned order dated February 02, 2016 passed by the Hon'ble Supreme Court of India, only the Committee is authorised to sell the properties of PACL Ltd. or properties wherein PACL Ltd. has interest/rights therein directly or indirectly. In view of the above, the Public is hereby cautioned against buying/dealing with any properties wherein PACL Ltd. or any of its associates/subsidiaries have any interest/rights, directly or indirectly.

Tags : NOTICE INVESTER COMMITTEE CONSTITUTION