SEBI PACL Refund Online: Can any nominee claim money on someone's behalf? Check answer here

SEBI PACL REFUND ONLINE: After the panel headed by retired Justice RM Lodha announced that investors of PACL who are seeking claims from the company can submit their applications to the panel till April 30, there are many questions on the investors' mind. One of questions is - Can any nominee make the claim on behalf of such deceased investor? Or What if the PACL certificate holder has passed away and nominee wants to make the claim on behalf of that person?

Here is its answer:-

According to SEBI, "In such a case, the claim application can be submitted by the Nominee whose name appears on the PACL certificate. However, date for the submission of claim applications through nominees shall be notified in due course."

PACL had illegally collected around Rs 60,000 crore from the public, mainly in the name of agriculture and real estate businesses.

The committee headed by retired Justice RM Lodha 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 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 release said.

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

"The last date for receipt of claim applications is April 30, 2019," it added.