PACL, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected these funds through illegal collective investment schemes over a period of 18 years. The watchdog is looking to recover around Rs 60,000 crore for repayment to investors in the case.
In a release today, Sebi said that public at large are advised "not to deal with any of the properties wherein PACL Ltd and/or its directors/promoters/agents/employees/group and/or associate companies directly or indirectly have any interest".
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