How To Fillup Pacl/Pearls Refund Application Form by Online
POSTED BY :  Shivam ,  PUBLISHED :  09 MAR, 2019    UPDATED :  23 SEP, 2019

Refund to PACL/ Pearls Investors

1. The Hon’ble Supreme Court of India (hereinafter referred to as the ‘Court’) has passed an order dated February 02, 2016 in the matter of Subrata Bhattacharya V. Securities and Exchange Board of India (CA No. 13301/2015) and other connected matters. Vide the said order, SEBI was inter alia directed to constitute a committee under the Chairmanship of Hon’ble Mr. Justice R.M.Lodha, the former Chief Justice of India, for disposing of land purchased by PACL Ltd. (hereinafter referred to as ‘PACL’/ the ‘Company’), so that the sale proceeds can be paid to the investors, who have invested their funds in the Company. 

2. SEBI has accordingly constituted a committee under the chairmanship of Justice (Retd.) R.M. Lodha for selling the properties of PACL and using the sale proceeds to refund the investors who have invested their money in PACL(hereinafter referred to as the ‘Committee’). 

3. The Committee in furtherance of its mandate has decided to initiate the process of refund to the investors of PACL with the monies so far realised by it. At the first instance, the Committee has decided to receive claims from such investors whose total outstanding amount (Principal)with PACL is up to Rs. 2,500. It is clarified that refund may not necessarily be Rs. 2,500 per claimant investor, and would be effected on a pro-rata basis after considering the number of claims received as well as the funds available with the Committee.

4. In light of the above, only such investors whose total outstanding amount(Principal) with PACL is up to Rs. 2,500 (per investor) are advised to send the following details by way of an SMS at 562632 or by uploading the same on the website

Name of the investor as per PACL Certificate, 

Amount claimed (in rupees), 

Claimant’s mobile number,

PACL Scheme Payment Registration number,

Scanned copy of PACL Certificate,

Aadhaar/ Pan Number,

Bank account number and IFSC code,

Whether land has been allotted to the claimant investor by PACL,

Scanned copy of PAN Card / Aadhaar Card, and

Scanned copy of the latest Bank Statement showing the last three transactions. 

(The Applicants should ensure that the latest Bank Statement uploaded must clearly show the name, address, bank account number and IFSC code) 

In this respect, a demo video illustrating the process for making an application for refund is provided on the website and the same may be viewed before making such application. Investors can also call on <044-395-71985> to know the status of their applications for refund. 

5. The investors are hereby advised to send only such information as sought for at Para 4 above and strictly in the manner stated therein, and not in any other manner. The investors are further cautioned against parting with their original PACL Registration Certificates, unless on specific intimation received from the Committee

6. The last date for receipt of applications for refund is February 28, 2018.