Sebi cautions public on PACL assets

The Securities and Exchange Board of India (SEBI) has asked the public at large not to deal with any property where Pearl Agrotech Corporation Limited (PACL) and its promoters have interests, following a Supreme Court order. SEBI’s latest move follows a recent Supreme Court order that restrained PACL and its promoters, among others, from alienating any of their properties, both within and outside India. PACL, which had raised money from the public in the name of agriculture and real estate businesses, was found by SEBI to have collected these funds through illegal collective investment schemes over 18 years.