PACL Investor Alert! You must update the mobile number if the certificate of origin SMS is not received – Know the process

PACL News: If you are a PACL depositor and are still waiting for a refund, make sure your updated number is on file with the Committee to get your money back. Applicants will receive an SMS to their updated phone number requesting the original PACL certificate. At the time of application, only scanned copies of certificates and receipts were submitted by investors. A Committee headed by Retired (Retired) Judge RM Lodha has been set up for the process of reimbursing investors from PACL India limited. The Committee has received inquiries from investors regarding the non-receipt of text messages calling for original PACL certificates due to a change in mobile phone number.

Many investors have reported that the mobile phone numbers provided by them when submitting claims online are no longer operational.

As a result, the committee has now provided the facilities to the investors or applicants of PACL Ltd. on the SEBI PACL reimbursement web portal. PACL investors/applicants can now update/modify their registered mobile numbers online on the web portal.

Also, investors/candidates with claims between Rs. 10,001 and Rupees. 15,000 can now check on the web portal if text messages have been sent to their registered mobile numbers for submission of original PACL certificates.

The detailed step-by-step process for updating the mobile number on the portal and for asking if an SMS has been sent calling for the original PACL certificate is available on the web portal.

The Committee had initiated the reimbursement process for PACL investors with a claim amount up to Rs. 10,000. However, some claims could not be processed further due to one or more shortcomings. Therefore, investors/candidates with claims up to Rs. 10,000 can check the status of their claim requests online and rectify any deficiencies, if any.

In the current process of receiving claim requests, the investor who submits a claim request must be in possession of the original bond certificate and the original overdue payment receipt, and must upload the scanned copy of the bond certificate with the scanned copies of the outstanding receipt. .

Previously, SEBI ordered the seizure of all assets of PACL (Pearl Agrotech Corporation Limited) and its nine promoters and administrators in December 2015 due to their non-repayment of sums owed to investors. Subsequently, for the process of reimbursing the investors of PACL India limited, a committee headed by retired judge RM Lodha was set up.

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