The Securities and Exchange Board of India (SEBI) has disclosed details of 29,000 properties of PACL, the massive ponzi scheme that went bust. These details, says SEBI in a press release issued today, are available on the website www.auctionpacl.com .
SEBI’s disclosure is in compliance with a Supreme Court order of 2 February 2016, in the matter of Subrata Bhattacharya vs Securities and Exchange Board of India (CA No. 13301/2015). The Court asked for the constitution of committee under the chairmanship of Justice RM Lodha, former Chief Justice of India, for disposing of the properties of PACL Ltd so that the sale proceeds can be paid to it hapless investors.
Unfortunately, there is no listing or record of the properties easily available on the website. The links take the viewer to those interested in bidding for the auction with cumbersome navigation.