[Sebipaclrefund.co.in] SEBI PACL Refund Status 2024 – Enquiry, Application Process

[Sebipaclrefund.co.in] SEBI PACL Refund Status 2024 – Enquiry, Application Process Check. Apply Online for Pacl Refund.

SEBI PACL Refund Status 2024 – Apply

SEBI re-announce extension of dates for submission, upgradation of mobile numbers for claiming refund related to the infamous PACL case. Justice RM Lodha committee passed a ruling that all the investors having claims upto Rs 19000/- can submit their PACL Refund Application on official website from March 12 2024 to June 13 2024. This facility is in continuation with the previous order passed on February 27,2023. Investors need to send their original PACL certificates upon receiving an SMS from ‘the committee’. The process is free of any extra charge but the posting and handling fee shall be borne by applicant.

In 2023, committee made the same announcement twice in the month of June and then September but for an amount between Rs 15000-Rs 17000/-. Committee make such announcement first time in the year 2022 for amount of claim/investment between Rs10,001/- to Rs 15,000.

In the year 2015 SEBI ordered the company (and its Promoters) to return the money of investors within a period of 3 months from date of order. Failing which the committee take the step of claim applications.

Applicants can know more about official notification, check the status of their claim application, update mobile number by visiting official website of sebipaclrefund.co.in .

About	SEBI PACL refund application 2024
Legal committee	RM Lodha committee (Supreme Court)
Organisation	SEBI
Application date	12 March-13 June 2024
Claim amount	Upto Rs 19000
Contact	Bandra-Kurla complex,Mumbai-400051,Maharashtra Phone-02226449000
Official website	Sebi.gov.in
Website for claim status and application	Sebipaclrefund.co.in

 

About PACL case

Pearls Agro Company ltd. was a real estate development company established in 1996. It is a public unlisted company limited by shares owned by Nirmal Singh Bhangu. Registered in Jaipur, Rajasthan it mainly operates in Delhi-NCR and other big cities like Vadodara, Mumbai etc.

Initially its main activity was to raise loans from public in small amounts and then collectively invest it in a piece of land for agriculture and real estate purposes. It would guarantee high profit earned by later on selling that land when its prices increase. The amount returned at an interest of 12.5% so its seen as a good investment option besides FD.

But continuing this pattern PACL collected around Rs 49,100 crore and grew 8 times its original size within a period of 8 years. Its success was huge as it had around 6crore customers and total land assets of 1.83 lakh acres. In 1998, SEBI and PACL got into a case but it got dismissed by Rajasthan High Court which increased the faith of customers in company. By 2014 company raised a loan of approx Rs 60,000 from more than 5crore people.

In 2014 Supreme Court appoint SEBI and CBI to conduct investigation and later on ordered to return Rs 46,000 crores to investors. Supreme court constitute a committee especially for this case known as ‘RM Lodha’ headed by Retired judge RM Lodha. Currently this committee works jointly with SEBI to provide claims to investors and case related information.

PACL case timeline and rulings chronology:

• February 2016- Justice (Retd.) RM Lodha committee constituted on directions of Supreme court of India.
• February 2019- first notification regarding refund to PACL investors. Claim amount upto Rs 5,000.
• August 2019- Invite EOI (Expression of Interest) application from investors who may like to buy any of 28,974 PACL properties.
• July 2020- After making payment to 570,706 investors for claims upto 5000.

       Committee invite further applications for amount between 5000-7000 Rs. Check status of their                         application   on official site. Made successful payment of Rs 268.47 crores to 9,71,565 investors (claims             upto Rs 8000).

• September 2020- Successful payment of Rs 129.13 crores to 12,48,344 investors. Claims upto Rs 10,000 invited and settled. Check status of your application on official website.
• March 2022- Invite applications for investor claims between Rs 10,000-Rs 15000. Application status check on official website.
• February 2023- Applications call for claims between Rs 15000 to Rs 17000. Status of application is available on official website. Official notification can be seen.
• March 2023- Payment worth Rs 919 crores to investors having claims between Rs 15000 to Rs 17000. Total 1,14,933 eligible SEBI Pacl Refund applications 2023 .
• September 2023- Invitation for application for claim amount between Rs 17,001 – Rs 19000.
• February 2024- SEBI invites applications for PACL claims upto Rs 19,000. Extend date of application to March 14.

Documents required for SEBI PACL refund application:

• Aadhaar card
• PAN card
• PACL certificate original and photocopy
• PACL receipt photo
• Banker verification letter photo
• sample cancel cheque photo

Application procedure to claim PACL refund 2024

1. Applicant should visit PACL refund site of SEBI (sebipaclrefund.co.in).
2. Register on site to create your account. Enter your mobile number, captcha and password.
3. Login with your PACL Registration number and password.
4. Fill in personal details like name, PAN number etc.
5. Upload documents like PACL certificate, PACL receipt, Banker verification letter and sample cancel cheque.
6. List of documents appear. Click on I agree box.
7. You receive confirmation message.
8. Applicant shall wait to receive a legal notification from SEBI on his/her registered mobile number.
9. If you want to update phone number. follow these steps:
   • Go to sebipaclrefund.co.in
   • Click on ‘enquiry’
   • Enter your PACL certificate number and Captcha. Click on icon next to mobile number on screen.
   • Enter PAN number, new Mobile number, Captcha and click on ‘Generate OTP’
   • Enter OTP and click on ‘verify’
   • Upon successful verification, ‘Mobile number updated successfully display on scree’.
10. Check the status of your application by clicking on ‘Enquiry’ button. Enter Certificate number and Captcha.
11. Upon receiving SMS from SEBI. Speed post original copy of PACL certificate on address (SEBI Bhawan,Plot No.C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051) mention in official notification.
12. Send original PACL certificate through registered post. Only after receiving official SMS. There should only be one original certificate in envelope.
    • To check if any SMS has been send to your number or not follow these steps
    • Go to ‘enquiry’ option
    • Enter PACL certificate number and captcha.
    • Status about if any SMS has been sent to you or not will display.
13. Your refund shall get processed within a few days.

for any questions related to application or any problems faced during registration, check FAQ section on sebi pacl refund website.

 

Important links for your information

Follow this link to go to official sebi website and read all public notices related to case.

click here to check latest official sebi notification for claims upto 19000.

पूरा नोटिफिकेशन हिंदी में देखने के लिए यहां क्लिक करें

check out this link to visit official SEBI PACL refund application, status check, application enquiry.