Deadline to submit claims extended till July 31: PACL
   Date :27-Apr-2019

INVESTORS of PACL can submit their applications seeking claims till July 31, with R M Lodha committee extending the deadline.The deadline for submitting applications was to end on April 30. “However, in view of representations received, the committee has decided to extend the last date of receipt of applications from April 30, 2019 to July 31, 2019,” Securities and Exchange Board of India (Sebi) said in a release on Friday
In Feb this year, committee decided to receive claims from all investors having outstanding claims with PACL after it completed process of refunding to investors whose total outstanding amount was upto Rs 2,500.
The committee headed by retired Justice R M Lodha was set up by Sebi following a Supreme Court order for selling properties of PACL and using sale proceeds to refund investors. The ruling came after it was found PACL had illegally collected around Rs 60,000 crore from the public.