In a significant development related to the PACL case, the Securities and Exchange Board of India (SEBI) has taken a crucial step toward refunding investors. The SEBI panel, established in 2016 and headed by former Chief Justice of India R M Lodha, is actively overseeing the process of disposing of properties to refund investors after verifying their genuineness.
Original Document Submission Deadline
The committee has recently made a critical decision regarding eligible investors in the PACL case with claims ranging from Rs 17,001 to Rs 19,000. These investors are now required to submit their original PACL registration certificates to facilitate the refund process. This requirement applies to individuals whose applications have been successfully verified by the committee.
Ensuring Authenticity of Claims
SEBI’s move to collect original documents is aimed at ensuring the authenticity of claims made by investors in the PACL case. By cross-referencing these documents with the information provided in the applications, SEBI can verify the legitimacy of the claims and proceed with the refund process accordingly.
Deadline for Document Submission
Investors falling within the specified claim range must submit their original PACL registration certificates by the end of October. This deadline is crucial for expediting the refund process and providing eligible investors with the restitution they deserve.
For the latest updates on the PACL case and SEBI’s efforts to refund investors, stay tuned to PTI. We will continue to provide timely news and information on this important financial matter.
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