Thursday, 22 December 2016

SEBI advises PACL investors to file claim only on notification by its Committee -The Total Investment & Insurance Solutions

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22 December 2016

A Committee has been constituted by SEBI (Securities and Exchange Board of India) 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 customers. The Total Investment & Insurance Solutions 

The investors were informed that the process of auction is under way in terms of a notice dated 27 November 2016. The Total Investment & Insurance Solutions

According to SEBI, the process of refund would be initiated upon realisation of sizeable amount by the committee. SEBI cautions that the claim could be filed only in the prescribed format upon specific notification by the committee.  Till such notification, investors have been requested to retain their documents with themselves and not to part with them for any reason. The Total Investment & Insurance Solutions


Meanwhile, it is noted that despite the above notice claims are being filed by individuals or through associations enclosing documents. SEBI has cautioned investors not to be misguided or fall into a trap by inducements and false promises.The Total Investment & Insurance Solutions

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