PUBLIC NOTICE
Justice (Retd.) R.M. Lodha Committee
(in the matter of PACL Ltd.)
CAUTION TO INTENDING BUYERS/ PUBLIC INVESTORS/PUBLIC AGAINST
BUYING AND/OR DEALING WITH THE PROPERTIES OF PACL LTD.
1. It is brought to the notice of the public at large that in compliance of the order dated February 02, 2016 passed by the Hon’ble Supreme Court of India in CA No. 13301/2015 titled as Subrata Bhattacharya 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 PACL Ltd., so that the sale proceeds can be paid to the investors (the “Committee”).
2. The properties of PACL Ltd. seized by CBI and made available to the Committee are listed on the Committee’s websites namely, sebipaclauctionl.com and www.sebipaclproperties.com.
3. In this respect, it is reiterated that in terms of the above order dated February 02, 2016, only the Committee is authorised to sell the properties of PACL Ltd. or properties wherein PACL Ltd. or any of its associates/subsidiaries have any interest/right, directly or indirectly.
4. It has come to the notice of the Committee that an Authority Letter bearing Ref. No. JRMLC/PACL/3442/2022 dated June 16, 2022 purportedly issued for and on behalf of Nodal Officer Cum Secretary of the Committee, authorizing one Mr. Harvinder Singh Bhangoo to sell the properties of PACL in Karnataka is in circulation. The said letter, inter alia, states as under:
“that Mr. Harvinder Singh Bhangoo (Voter ID No. TJU9584804) will act as our official representative to deal with lands bearing follow Karnataka State…”
5. It is clarified that the Committee has not authorised any individual/ entity much less Mr. Harvinder Singh Bhangoo, to sell/ dispose of the properties of PACL Ltd. as falsely asserted in the foregoing Authority Letter, or at all. It is also stated that any attempt by individuals/ entities to illegally and unauthorisedly take possession of the properties of PACL Ltd. shall invite strict action in accordance with the directions of the Hon’ble Supreme Court.
6. In view of the above, public at large is once again cautioned against buying and/or dealing with the properties of PACL Ltd. or properties wherein PACL Ltd. or any of its associates/subsidiaries have any interest/right, directly or indirectly. For any information with respect to the matter of PACL Ltd., only the public notices and press releases published by the Committee, available on the website: sebi.gov.in may be relied upon.
Mumbai
July 24, 2022
Nodal Officer-cum-Secretary
