Auction of Sahara's asset - Committee set up to hear objections
Published: Dec 11, 2017
NEW DELHI, DEC 11, 2017: PURSUANT to the order dated 02.02.2016 passed by the Apex Court in the matter of Subrata Bhattacharya V. Securities and Exchange Board of India, the Securities and Exchange Board of India (SEBI) has constituted a committee under the chairmanship of Justice (Retd) R.M. Lodha for selling the properties of PACL Ltd. and using the sale proceeds to refund the investors who have invested their money in PACL Ltd. (PACL Committee). In compliance of the same, the PACL Committee has undertaken the process of selling the properties of PACL Ltd. The PACL Committee has also received objections/ representations in respect of this work being undertaken by it.
In this regard, the PACL Committee has appointed Mr. R.S.Virk, District Judge (Retd.) for hearing the objections/ representations in respect of the work being undertaken by the PACL Committee. The Court has taken the view that all applicants put up their cases before Mr. R.S.Virk, District Judge (Retd.). Hence all objections or representations in respect of the work being undertaken by the PACL Committee be sent to the Office of Mr. R.S.Virk, District Judge (Retd.) at Fourth Floor, Plot No.226, A-2, Sec – 17,Dwarka, New Delhi. Furthermore, a cause list providing the list of matters to be heard by Mr. R.S.Virk, District Judge (Retd.) shall be provided on the SEBI website on a daily basis.
