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SEBI starts action against PACL

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  15 Dec 2015 12:00 AM GMT

Cheni, Dec 14: Securities market regulator SEBI on Monday said it has started action to recover Rs.49,100 crore due to investors from PACL Ltd and its promoters/directors. In a statement, the Securities and Exchange Board of India (SEBI) said it has initiated recovery proceedings on December 11 against PACL and nine promoters/directors to recover Rs.49,100 crore along with further interest and costs. The defaulting promoter/directors include Tarlochan Singh, Sukhdev Singh, Gurmeet Singh, Subrata Bhattacharya, Nirmal Singh Bhangoo and Uppal Devinder Kumar. (IANS)

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