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PACL case: Deadline for investors to submit claims extended till July 31

pacl last date

PACL last date
NEW DELHI: PACL investors can submit their claim requests until July 31, and the R M Lodha committee extends the deadline.

The deadline to submit applications ends on April 30.

“However, in view of the statements received, the committee decided to extend the last date of receipt of applications from April 30, 2019 to July 31, 2019,” the Securities and Exchange Board of India said on Friday ( Sebi) in a statement.

In February of this year, the committee decided to receive claims from all investors who have outstanding claims with PACL after completing the process of reimbursement to investors whose total outstanding amount was ₹ 2,500.

PACL last date

The committee headed by retired judge R M Lodha was created by Sebi following a Supreme Court order to sell the PACL properties and use the proceeds of the sale to reimburse the investors.

The decision came after it was discovered that PACL had illegally collected around 60 billion rupees from the public, mainly on behalf of agricultural and real estate companies, and the company did not reimburse investors.

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