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PACL case: Deadline for investors to submit claims extended till July 31

"However, in view of representations received, the committee has decided to extend the last date of receipt of applications from April 30, 2019 to July 31, 2019," says Sebi

Press Trust of India  |  New Delhi 

sebi

Investors of can submit their applications seeking claims till July 31, with R M committee extending the deadline.

The deadline for submitting applications was to end on April 30.

"However, in view of representations received, the committee has decided to extend the last date of receipt of applications from April 30, 2019 to July 31, 2019," (Sebi) said in a release on Friday.

In February this year, the committee decided to receive claims from all investors having outstanding claims with after it completed the process of refunding to the investors whose total outstanding amount was up to Rs 2,500.

The committee headed by retired Justice R M was set up by Sebi following a order for selling the properties of and using the sale proceeds to refund the investors.

The ruling came after it was found that PACL had illegally collected around Rs 60,000 crore from the public, mainly in the name of agriculture and and the firm failed to refund the investors.

First Published: Fri, April 26 2019. 17:45 IST
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