PACL case: Sebi panel receives details of additional 13,863 properties

PACL case: Sebi panel receives details of additional 13,863 properties
Highlights

Markets regulator Sebi on Wednesday said the committee headed by Justice R M Lodha in the PACL Ltd case has received details of additional 13,863 properties of the real estate firm The committee already has the details of around 29,000 properties of PACL

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 these funds through illegal collective investment schemes over 18 years.

Markets regulator Sebi on Wednesday said the committee headed by Justice R M Lodha in the PACL Ltd case has received details of additional 13,863 properties of the real estate firm. The committee already has the details of around 29,000 properties of PACL.

The details of additional 13,863 properties is received by the committee and "the same have been made available for viewing on https://www.sebipaclproperties.com," the regulator said in a release.

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 these funds through illegal collective investment schemes over 18 years.

The panel, headed by former Chief Justice of India Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. The Securities and Exchange Board Of India (Sebi) had set up the high-level committee following a Supreme Court order.

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