PACL News – Questions Asked By Investors

Question:- When will my PACL money be back from SEBI?
Answer:– SEBI is working on the process of returning money to all the affected investors. This is not a one-time process as lakhs of customers have applied for refunds. SEBI has to filter out the investors in different categories like it did for the refund process Rs.2500. Wait for your money to get back to you. The process is half – way through and your invested amount will soon be back.

Question:- My claim amount is Rs. 5000. When will I get it back?
Answer:– SEBI had refunded 2,77,544 investors who had their claim amount up to Rs. 5000. Fewer applications with Rs. 5000 as the maximum claim amount could not be considered because eitherthe documents were not complete or SEBI had paid the refund amount in the 1^st round only.

Question:- When can the claimants with refund amount of Rs. 10,000 and aboveapply for refunds?
Answer:– SEBI has completed the first two phases of PACL refunds and claimants with refund amount up to Rs. 5000 have been paid.Now, SEBI will very soon announce the new dates for starting the refund process of the claimants above Rs. 5000. Such processes take time and need to be conducted in parts. Therefore, wait for your call for refunds from the SEBI.

Question:- I entered some wrong details in my claim application. Can I correct them?
Answer:– Yes, you have the golden chance of correcting any wrong information that have entered in your claim application form. 31^st July, 2020 is the last and final date to do this. Make sure you don’t delay because no changes can be done after this date.

Question:- What to do if I only have a photocopy of my PACL bond but my money has still not returned?
Answer:– Your money will be refunded if you have sent a claim application before the deadline. If you did apply, you must have known that photo copies of your PACL bonds can be attached with your claim application.

Question:- I misplaced my PACL bond receipt. Is it possible for me to apply for refunds?
Answer:– If by chance, you have misplaced your PACL bond receipt, then you need not worry because a photocopy of the same will do the job for you. But, if you haven’t applied before the last date for filing refunds, then you cannot claim your refunds in any case.

Question:- I have a PACL certificate in the name of my 9 – year old daughter. Can I apply for refunds on her behalf as she does not have a PAN number and bank account?
Answer:– Yes, parents and guardians of the child can apply for refunds if PACL certificates are issued in the name of the children. Parents can definitely file for refunds on behalf of their child.

Question:- I have already submitted my original documents but have not registered for refunds. When will I get my money refunded?
Answer:– Registration for refund application is very important. It does not matter whether you have submitted your original documents or not. You can even upload a photocopy of your bonds or receipts before the time of filling claims expires.

Question:- When will all the money be refunded to the PACL investors?
Answer:– SEBI is sure taking time to refund all the investors but what needs to be understood in this matter is that these processes take time. The market regulator has received tons of applications which it needs to check thoroughly before it credits an amount to the account of a claimant. A lot of things have to be looked into while refunding like the money should not be sent to a wrong applicant or it should not reach someone who has already received his/her refunds. We duly understand how one feels when your hard – earned money is stuck with a fraud company but all we can say is, patience is key in such matters. Therefore, allow SEBI some time and the way it has successfully completed the first two rounds of refunds, it will most definitely speed up the process of refunding the rest of the customers.