PACL Refund Update: Investors Must Do This Before October Deadline To Secure Their Claims
The committee, headed by former Chief Justice of India RM Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness.
Sep 27, 2023, 15:53 PM IST
Sebi imposes Rs 2,423 cr fine on PACL, 4 directors
Regulator Sebi on Thursday imposed Rs 2,423 crore fine on PACL Ltd and its four directors for illegal fund mobilisation through various schemes that were used by the group to garner over Rs 49,000 crore from the public.
Sep 07, 2017, 19:55 PM IST
HDFC Realty mulls helping banks dispose of defaulter assets
Taking its experience in selling properties of Sahara and PACL for Sebi a step further, real estate advisory firm HDFC Realty is considering helping banks sell properties of defaulters and recover loans.
Oct 10, 2016, 00:14 AM IST
Sebi suspects 'money laundering' in ponzi schemes
There is a "huge element of money laundering" in illegal public deposit schemes across the country, a top Sebi official said on Thursday, even as he wondered why not many claimants are coming forward to get back the money in the high-profile Sahara case.
Aug 04, 2016, 19:09 PM IST
CBI files charge sheet against Pearls Group CMD, five others
The CBI on Thursday filed a charge sheet against Pearls Group CMD Nirmal Singh Bhangoo and five others,
Apr 07, 2016, 18:28 PM IST
CBI likely to file its charge sheet in Pearls chit fund case
CBI is all set to file its charge sheet against Pearls Group companies and its Chief Nirmal Singh Bhangoo and others in connection with cheating five crore investors of Rs 45,000 crore by luring them with attractive land deals
Apr 07, 2016, 15:57 PM IST
Head of PACL arrested over alleged $6.8 billion investment scam
The arrest of Nirmal Singh Bhangoo comes 17 months after markets regulator the SEBI ordered PACL to return money to millions of investors.
Jan 09, 2016, 06:42 AM IST
SEBI fines PACL Rs 7,269 crore for illegal raising of funds
In its biggest ever fine, regulator Sebi on Tuesday imposed a penalty of Rs 7,269.5 crore on PACL Ltd and its four directors for illegal and fraudulent mobilisation of funds from the public, saying the company deserves "maximum penalty" for such large-scale duping of the common man.
Sep 22, 2015, 19:21 PM IST
Securities Appellate Tribunal upholds $7.5 billion refund order against PACL
In its order, SEBI said PACL was selling fixed-return investment products disguised as land-for-fund schemes. It told the firm to return 491 billion rupees ($7.52 billion) it raised from 58.5 million customers.
Aug 18, 2015, 12:24 PM IST
Property developer PACL says will appeal order to refund $8.1 billion
Property developer PACL said it would appeal a regulator`s order to return at least USD8.1 billion to investors in a land-for-funds scheme, as depositors went to the company`s New Delhi office to demand their money back.
Aug 25, 2014, 22:05 PM IST
RBI to redefine deposits as ponzi scams mount
In the wake of unearthing of multiple unauthorised deposit raising schemes and scams such as Saradha and PACL, RBI Deputy Governor R Gandhi on Monday said the Reserve Bank is working with the government on redefining as to what constitutes a deposit.
Aug 25, 2014, 20:35 PM IST
PACL to move Tribunal against Sebi order
Facing a Sebi order with charges of running an illicit money pooling scheme worth about Rs 50,000 crore, PACL Ltd on Friday said that it will approach the Securities Appellate Tribunal against the directive of the capital markets regulator.
Aug 22, 2014, 23:09 PM IST
