Sebi panel asks investors to submit original registration certificates for refund

New Delhi: A high-powered Sebi committee on Tuesday asked investors in illegal schemes of PACL to submit their original registration certificates till June 30 only after receiving an SMS from the panel.

This is applicable only for those investors whose claim money is between Rs 10,001 and Rs 15,000 and whose applications have been verified. "The window for accepting original certificates shall remain open from April 1, 2022 to June 30, 2022," the Securities and Exchange Board of India (Sebi) said in a press release. The markets regulator had set up a committee headed by former Chief Justice of India R M Lodha following a Supreme Court order to refund money to investors in the matter of PACL Group. The panel 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. PACL, also known as Pearl Group, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected more than Rs 60,000 crore through illegal collective investment schemes (CIS) over a period of 18 years.