Committee Justice R M Lodha has found RS 878.20 Crore so far by removing immovable assets from Pacl Limited because it returns investors suspected of being cheated by companies examined in the Ponzi fraud case 60,000 Crore, said Thursday officials.
CBI has submitted more than 42,950 property documents to committees other than 79 luxury cars from PGF and PACL including Rolls Royce, Porsche Cayenne, Bentley, BMW 7-Series, they said.
The Lodha Committee has received claims from 1.5 Crore Investors so far to seek investment refunds from Pearl Agro Corporation Limited (PACL) and related companies, according to government data.
The Committee formed by the Supreme Court in 2016 has been able to recover RS 878.20 Crore so far from PACL assets and related entities, they said.
Of the total recovery, the 113 property auction has taken 86.20 Crore Hospital, officials said. In addition, Australian -based Australian pearl infrastructure project property, as the Associate Entity of Pacl, has resulted in the recovery of RS 369.20 CRORE after the Australian Federal Court orders for claims submitted by Securities and Exchange Board of India (SEBI).
The government has recovered RS 308.04 Crore from a Pacl Bank account and its colleague and RS 98.45 Crore from its permanent deposit. The auction of 75 vehicles has taken 15.62 crore hospitals while the disposal of six property documents has resulted in recovery of RS 69 Lakh.
The Committee has adopted a wise refund and claims the amount of money to Ltd. PACL investors. Depending on the corpus available with the committee and after verifying the claims raised by investors, the government said that recently in parliament was responded to the question. It is estimated that only the principal number must be paid to investors in different phases and provide preferences to small investors, he said.
“In connection with investors who have not submitted applications through the online portal, the Public Notification Committee dated October 16, 2019 tells the investor to wait for the notification in this case by the committee in time,” he said. The Supreme Court on February 2, 2016 has appointed an expert committee led by the former Chief Justice of the Indian Supreme Court to monitor the sale of assets and refund to PACL investors.
A bench, consisting of judges Anil Dave and Adarsh Goel, has said that the deed of deeds from various Land owned by PACL must be handed over by CBI to Sebi, who will therefore take the right steps to ensure their sales with the aim of returning money funds for investors.
PACL, also known as the Pearl Group, who has collected money from the public on behalf of the Real Estate Agriculture and Business, was discovered by Sebi has collected more than 60,000 Crore RS through the Illegal Collective Investment (CI) scheme during a period of a 18 -year period.