PACL

Securities Appellate Tribunal (SAT) on Monday upheld an order by market regulator Sebi against Jaipur-based real estate major PACL Ltd and directed it to refund Rs 49,100 crore that the company had collected through what the tribunal termed as ‘sham collective investment scheme (CIS)’.

New Delhi, Jun 27 () Securities Appellate Tribunal has quashed Rs 2.31 crore fine imposed on Uppal Devinder Kumar in the illegal money pooling case involving PACL and has directed Sebi to pass fresh order with respect to this individual.

New Delhi, Jun 27 () Securities Appellate Tribunal has quashed Rs 2.31 crore fine imposed on Uppal Devinder Kumar in the illegal money pooling case involving PACL and has directed Sebi to pass fresh order with respect to this individual.

Duped investors of PACL, under the banner All Investor Safety Organisation (AISO), staged a protest and handed over a memorandum addressed to market regulator Securities and Exchange Board of India (SEBI) on Wednesday demanding they get their hard earned money back.

New Delhi, Sep 6 () Sebi today cautioned public against dealing in any property in which PACL has interest after noticing instances where certain entities are trying to transact in such properties by claiming that as their own.

Market regulator Sebi on Monday said it has attached the assets of PACL, its promoters and directors for failing to refund about Rs 60,000 crore that the company had been raising illegally from five crore investors since 1997.

New Delhi, Jul 31 () Sebi has cautioned public at large against dealing with any property where PACL and its promoters have interests as the regulator pursues efforts to recover Rs 60,000 crore in the case to refund investors.

New Delhi, Jun 26 () Cautioning investors in the over Rs 50,000 crore PACL case, markets watchdog Sebi has asked them to guard against unauthorised attempts to collect their property and investment documents.

Cautioning investors in the over Rs 50,000 crore PACL case, markets watchdog Sebi has asked them to guard themselves against unauthorized attempts to collect their property and investment documents. Sebi is currently refunding money to the investors after selling attached assets of PACL.

New Delhi, Feb 22 () Regulator Sebi today asked PACL's investors to file their claims for refund of money in a prescribed format to be issued by Supreme Court-appointed committee and cautioned public at large against dealing with any property where the group and its promoters have interests.

Investment Schemes of PACL Limited are wound up and all the monies mobilized through such schemes are refunded to its investors with returns which are due to them” the SEBI's 92-page order said.

New Delhi, May 3 () Seeking to protect the interest of investors in PACL's illegal money-pooling case, a high-level panel today warned the public from dealing in any property owned by the company.

Market regulator Sebi on Tuesday fined PACL, the Chandigarh-headquartered real estate major that illegally raised about Rs 50,000 crore from investors.

New Delhi, Feb 8 () Investors of PACL who are seeking claims from the company can submit their applications to the panel headed by retired Justice R M Lodha till April 30, according to Sebi.

New Delhi, Mar 28 () As it tightens the noose on PACL for refunding over Rs 49,000 crore raised through illegal money pooling activities, Sebi has cautioned investors against yielding "to any pressure" from the group or its agents for converting existing schemes.

New Delhi, Jan 2 () Markets regulator Sebi today asked 'certain' investors of PACL Group to submit their claims for refund of money invested in the company's illegal investment schemes.

New Delhi, May 4 () Markets regulator Sebi today cautioned the public against buying and selling of any property of PACL Group or its promoters, saying no one has been authorised to collect money or claims in this regard.

New Delhi, Aug 11 () Moving ahead with its efforts to recover funds worth Rs 60,000 crore in the PACL case, Sebi will auction as many as 47 vehicles owned by the company later this month.

New Delhi, Jul 19 () Moving ahead with its efforts to recover funds worth Rs 60,000 crore in the PACL case, Sebi has decided to put on sale as many as 28 vehicles owned by the company.

New Delhi, Sep 17 () Markets regulator Sebi said Monday that an Australian court has accepted its claim seeking repatriation of the funds on behalf of PACL investors.

Mumbai, July 5 () Markets regulator Sebi today held e-auction of two properties belonging to PACL group as part of its efforts to recover funds totalling Rs 60,000 crore. The auction was carried out by HDFC Realty on behalf of the Sebi.

Two properties of PACL, also known as Pearl Group, in the national capital , a spacious office property in the central Connaught Place area and a residential plot in Nangloi, would be put up for an e-auction on July 5 at reserve prices of Rs 29.59 crore and Rs 90 lakh respectively, Sebi said today.

New Delhi, Nov 23 () Sebi has ruled that curbs imposed on Pearls Infrastructure Projects, majority owned by PACL, will continue as it has rejected the plea to defreeze bank accounts on grounds that proceedings to recover over Rs 60,000 crore from the parent entity is going on.

Mumbai, Feb 26 () A group of PACL investors today met markets regulator Sebi Chairman Ajay Tyagi and requested him to expedite the refund process.

New Delhi, Sep 5 () Moving ahead with its efforts to recover investors' money in the PACL case, markets regulator Sebi has decided to put on sale three luxury vehicles owned by the company. The move comes after the regulator had in July directed to auction 28 vehicles owned by the firm.