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PACL Case: Good news for those investing in Pearls, SEBI took this step to get the money back

PACL Chit Fund Refund: If you or someone you know has invested in Pearls / PACL India Limited, then this news will definitely give you relief. Market regulator SEBI (SEBI) had asked to submit the documents by June 30. But if you are still not able to submit the document, then there is nothing to worry.

Claim Filing
Date Extended SEBI has extended the date of submission of original documents till August 31. In the event of not enough applications from SEBI till June 30, the deadline has been extended. It was said from SEBI that this is the last chance to submit the documents. Actually, SEBI had said that investors can file claims till June 30, 2022. Only then will they get the money.

To file a claim SMS will come on the registered number , the investors have to give the original documents to SEBI. You can start the process of document submission only when you will receive SMS on your registered number. In the last days, when SEBI started this facility, investors were complaining that no SMS was received on their number.

Taking cognizance of this, the return will be available after the application is verified, SEBI has given the facility to update the mobile number. Actually, the application of the investors with the claim amount of Rs 10001 to Rs 15000 has been verified. Such people will get refund. More information can be obtained from www.sebipaclrefund.co.in . The high level committee of SEBI has given the facility to update the mobile number.

Why mobile number needs to be updated?
A committee headed by former Chief Justice of India RM Lodha was formed following the Supreme Court order to refund investors’ money. According to the release issued by SEBI, due to change in the mobile number of the investors, questions were being received from investors related to non-receipt of SMS for submission of original certificates. Many investors told that the old number is no longer in the facility. This is the reason why they are not getting SMS. After addressing the grievances of the investors, the investors have been given the facility to update/change the mobile number online.

Send to this address Document
SMS has been sent to Pearls investors after verification. Only those to whom SMS has been sent can claim for refund. Send the original documents through Registered Post or Speed ​​Post to SEBI Bhawan, Plot No.C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (East), Mumbai –400051. You will have to write the PACL certificate number on the envelope to be sent to this address.

Documents required to be sent are
1. Copy of PACL Certificate
2. PACL Receipts (if any)
3. Copy of PAN Card
4. Passport size photograph
5. Copy of Castile Cheque
6. Banker’s Certificate

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