Finance

S.E.B.I. Announced That They Did Not Make Offer To Pay Rs 20,000 Crores Which Was Raised Capital By Public

Markets regulator SEBI on Tuesday declared that has not made any offer to pay Rs 20,000 crore has due from P.A.C.L Ltd from last three years by sale of properties. The clarification comes following a video being circulated on WhatsApp. P.A.C.L, which had raised money from the public in the name of agriculture and real estate businesses, was found by SEBI to have collected more than Rs 60,000 crore through other sources collective investment schemes (CISs) over a period of 18 years.A panel, headed by retired Justice R M Lodha, started the process of refunds for investors, who invested money in P.A.C.L.This information was came near to Lodha Committee that a video is currently being sharing by people on Whats App containing a clipping from a business channel which states that P.A.C.L has made an offer to pay Rs 20,000 crore in three years by sale of properties and that the committee would revert with a counter offer by June 21

“The committee about which we’re discussing about issued that states that no such offer of P.A.C.L Ltd has been currently made to or countered by the committee, it added.In April, SEBI said payment aggregating to Rs 205 crore has been made to more than 8 lakh investors, with claims up to Rs 7,000.

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