A high-powered Sebi committee on Monday asked investors in illegal schemes of PACL group, with claims of up to `17,000, to produce original documents by March 20 for receiving refunds.
The panel has asked only those investors, whose applications have been successfully verified, to submit their original certificates.
The committee, headed by former Chief Justice of India RM Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. It has already initiated the process of refund in phases. The panel was set up by Sebi in 2016 following a Supreme Court order.
The committee has decided to call for original PACL registration certificates from eligible investors with claims between `15,001 and `17,000, whose applications have been successfully verified, according to a statement published on Sebi’s website on Monday.
Accordingly, intimation through SMS will be sent to all eligible investors, requiring them to submit original PACL registration certificates.
“The window for accepting original certificates shall remain open from February 27, 2023 to March 20, 2023,” the statement added.
Further, investors have been cautioned against parting with their original PACL registration certificates unless SMS is received from the Committee, requiring submission of original certificates.
