MANU/SPRL/0026/2016

Ministry : Securities and Exchange Board of India

Department/Board : SEBI

Press Release No. : 25/2016

Date : 17.02.2016

Constitution of Committee - In the matter of PACL Ltd. Vs SEBI and other connected matters.

In the matter of PACL Ltd. Vs Securities and Exchange Board of India (SEBI) (Civil Appeal No. 13394/2015) and other connected matters, the Hon'ble Supreme Court vide order dated February 2, 2016, inter alia, directed SEBI to constitute a Committee, under the Chairmanship of Hon'ble Mr. Justice R.M. Lodha, former Chief Justice of India, for disposing of the land purchased by the Company (PACL) so that the sale proceeds can be paid to the investors, who have invested their funds in the Company for purchase of the land.

In compliance with the above mentioned directions a Committee has been constituted and is as under:

1- Hon'ble Mr. Justice R.M. Lodha, the former Chief Justice of India	-Chairman
2- Mr. S. Raman, Whole Time Member, SEBI	-Member
3- Mr. Amit Pradhan, Chief General Manager and Regional Director, Northern Regional Office, SEBI	-Member

The Hon'ble Supreme Court also directed that a Nodal Officer shall be appointed, who shall be in-charge of the funds........