PACL Refund Online: How to know if application has been successfully submitted

PACL Refund Application Form Submission Online: PACL investors who earlier missed the deadline can now submit their applications online as the deadline/last date has been extended. Now, investors of PACL can submit their applications seeking claims till July 31, with R M Lodha committee extending the deadline. The deadline for submitting applications was to end on April 30. However, many PACL refund applicants who earlier filled the form are not sure if the application has been successfully submitted. So, here is the answer by SEBI:-

Q: How do I know if my application is successfully submitted?

A: After completion of all the required formalities, you may click on the ‘Final Submit’ button, upon which a preview screen will appear for confirmation of the information entered by you on the web platform. Upon your confirmation of the information entered, the application would be successfully submitted and an acknowledgement receipt number (ARN) would be generated. This number along with the PACL registration number should be used for all future communication.

In February this year, the committee decided to receive claims from all investors having outstanding claims with PACL 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 Lodha was set up by Sebi following a Supreme Court order for selling the properties of PACL 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 real estate businesses and the firm failed to refund the investors.