Market regulator Securities and Exchange Board of India (SEBI) has asked investors of PACL Ltd (erstwhile Pearls) to submit original registration certificates only after receiving an SMS from the justice (retd) RM Lodha Committee. This is applicable only for investors whose claim money is between Rs10,001 and Rs15,000 and they have successfully verified their claims. The Justice Lodha committee is supervising the SC-ordered process of selling PACL’s assets across the country and refunding Rs49,100 crore collected from over 55 million investors.
In a release, SEBI says, “The justice (retd) RM Lodha Committee (in the matter of PACL) has decided to call for original PACL registration certificate from eligible investors with claims between Rs10,001- and Rs15,000 whose applications have been successfully verified. To this end, SMS shall be sent to the eligible investors asking them to submit original PACL registration certificates”
“PACL investors who receive SMS from the committee requiring submission of original certificates issued to them by PACL, are requested to forward the same to: PO Box No.66, Belapur Post Office, Navi Mumbai -400614,” the release says.
Starting from 1st April to 30 June 2022, eligible investors of PACL can send their original registration certificates in an envelope. These investors are requested to write the certificate number on top of the envelope and send only one original PACL certificate in each envelope. If the investor has more than one…
