PR No. 18/2017

Re: NOTICE TO INVESTORS AGAINST COLLECTION OF CLAIM FORM/CHEQUES etc.

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.

The Committee through public notices and press releases informed about the rumour and wrong reporting regarding filing of claim with the Committee and also cautioned from dealing with properties wherein PACL Ltd has any rights/interest directly or through its associates or otherwise.

Vide the 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 committee is in receipt of complaints, whereby, it is learnt that certain individuals/associations are collecting money/claim form under the guise of authorisation from the committee. In this regard, it is reiterated that committee has not authorised any person to collect any money/claim etc. in any manner whatsoever, therefore investors may beware and are cautioned to not fall in the trap of any such news/report/advertisement etc.

The Committee solicits cooperation from public at large including the customers /investors of PACL Ltd. and requests them not to be guided by any reports/ rumours that certain individuals/entities have been authorised by the Committee for collecting cheques/money/claim form etc in any manner whatsoever. It is once again clarified that claim form would be filed upon specific notice to be published by the Committee and till such notification, investors are requested to retain their documents with themselves and not to part with them for any reason whatsoever. A request is made to rely only on the public notices and press release published by the committee, which are available on the www.sebi.gov.in and www.auctionpacl.com.

Mumbai

April 03, 2017

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Category : SEBI (2665)
Tags : SEBI notifications (2040)

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