Sebi invites PACL, 3 others for preliminary discussion next week

Markets regulator Sebi today said it has invited next week four companies, including PACL Ltd, for a preliminary discussion with regard to their proposals for the properties belonging to the group.

It has received seven proposals from interested entities for the properties belonging to PACL group after receiving a new bid from the company. However, it has invited only four companies for preliminary discussion on July 25, Sebi said in a statement.

The regulator had invited fresh counter proposals from interested entities earlier this month. The entities were required to submit such proposal till July 17, to R M Lodha committee, in response to a new proposal submitted by PACL.

It has obtained a proposal from PACL itself, besides, three bids from Maharashtra-based firms -- SDPL Land and Builders,