new Delhi. A high-powered committee looking at refund work for PACL Investors has warned investors to share documents related to their investments in the company’s plans. The committee’s move comes after a video on YouTube, which described a mobile app, inviting investors to upload their claim applications.
The PACL group raised money from the public in the name of agricultural and real estate businesses. Market regulator SEBI found that the company had raised more than Rs 60,000 crore through an illegal Collective Investment Scheme (CIS) over a period of 18 years. A committee has been set up under the chairmanship of retired judge Justice RM Lodha to oversee the refunds of PACL investors.
In a press release issued by the Securities and Exchange Board of India (Sebi), the Lodha committee said that it had received information that a video was uploaded on YouTube on June 5, stating that a mobile app or portal could be used for investors. Is inviting them to upload their claim application through the app. The committee said that the mobile app Janlok PACL Data is available on the Google Play Store and is claiming to be developed by the Janlok Prathistan Sansthan.
SEBI said that it appears that the mobile app has been active since May 26 and claimed that its sole purpose is to help PACL investors recover claims from the company. The committee said that only the committee has been tasked by the Supreme Court to help PACL investors recover their claims from the company and that no other person or entity can invite or collect claims from investors to influence refund payments Is not authorized to do.
Leave a Reply