PACL Refund Online Application: Here is how to calculate claim amount to be entered in the Pearls form

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. PACL had illegally collected around Rs 60,000 crore from the public, mainly in the name of agriculture and real estate businesses. But, many investors are confused about how to calculate the claim amount that is to be entered in the claim application form? Can an investor input the maturity amount as the claim amount?

Here are the answers to these questions:-

-According to SEBI PACL website, the claim amount is the total amount that is derived upon adding the amounts as appearing in all the outstanding receipts of payment with respect to a particular PACL Registration Number. 

-The claim amount so entered by the investor in the claim application form is required to be supported by uploading the scanned copy of the corresponding certificate issued by PACL for the said PACL Registration number along with the scanned copy (ies) of the corresponding outstanding receipt (s) of payment. 

-For greater clarity, please refer to the refund video. 

-Further, the originals of the scanned copies uploaded should be available with the investor. 

-It is further clarified that the maturity amount is not the claim amount.

The Justice R M Lodha Committee was set up by markets regulator Sebi following a Supreme Court order for selling the properties of PACL and using the sale proceeds to refund the investors.

Earlier, the panel initiated the process of receipt of claim applications from PACL investors whose total outstanding amount was up to Rs 2,500. This process has been completed. In a release, Sebi had said that after verification, refunds were made in respect of claims found to be in order and the process has been completed. "The committee has now decided to receive claims from all investors having outstanding claims with PACL Ltd," Sebi had said.

Regarding claim applications, the regulator said investors can access the website https://www.sebipaclrefund.co.in/

Further, Sebi cautioned investors against parting with their original PACL registration certificates without specific intimation received from the committee.

The last date for receipt of claim applications is April 30, 2019

In a separate release, Sebi said that only the committee is authorised to sell the properties directly or indirectly associated with PACL. "Accordingly, it is clarified that the committee has not authorised any individual/entity to sell the properties of PACL Ltd. It is also stated that any attempt by individuals/ entities to illegally and unauthorisedly take possession of the properties of PACL Ltd shall invite necessary action under law," the SEBI release noted.