Panel warns public from dealing in PACL’s property

New Delhi: Seeking to protect the interest of investors in PACL's illegal money-pooling case, a high-level panel on Tuesday warned the public from dealing in any property owned by the company. The committee, chaired by former Chief Justice of India RM Lodha, said such a dealing will be considered unauthorised and liable to appropriate action. The panel is in the process of selling all the properties of PACL in order to repay investors. PACL, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected over Rs 49,000 crore through illegal collective investment schemes over a period of 18 years. pti