Updated By: LatestGKGS Desk
SEBI: Pearl Agrotech Corporation Limited (PACL) Scam Reason, Details, Controversy
Pearl Agrotech Corporation Limited (PACL) Scam Controversy, Reason, Details
The Pearl Agrotech Corporation Limited (PACL) found illegally collecting INR 49,100 Crores over a period of 18 years. PACL is one of the biggest chit-fund scams in Indian investment history.
The company Pearl Agrotech Corporation Limited (PACL) was started in 1982. PACL and Pearls Golden Forest Limited (PGFL) accused of illegally collecting funds from the poor people on the pretext of sale and development of agricultural land.
The Justice (Retd.) R.M. Lodha Committee is a Committee constituted by the SEBI (Securities and Exchange Board of India) for selling the properties of PACL Ltd and using the sale proceeds to refund the investors who have invested their money in PACL Ltd.
With this reference, the Justice Lodha Committee has decided to provide an opportunity for all investors/applicants with claims between ₹5,000 and ₹7,000.
