new delhi may 4 markets regulator sebi today cautioned the public against buying and selling of any property of pacl group or its promoters saying no one has been authorised to collect money or claims in this regard it also asked investors to retain their documents and not part with them for any reason whatsoever till a specific notification is issued by the supreme courtappointed r m lodha committee which is overseeing disposal of pacl assets so as to refund the affected investors the committee said it has not authorised any person to collect any money either by way of cheques or in any form in any manner whatsoever soliciting cooperation from public at large including customers investors of pacl ltd the committee requested them not to be guided by any rumour that certain individuals have been authorised by the it for collecting money in a statement sebi has cautioned public against buyingdealing with any properties wherein pacl or any of its associates subsidiaries have any interestrights directly or indirectly the move comes after the committee received several complaints that certain individualsassociations are collectingattempting to collect moniescheques from individuals misrepresenting themselves to be authorised to do so by the chairmanmember of the committee pacl which had raised money from public in the name of agriculture and real estate businesses was found by sebi to have collected more than rs 60000 crore through illegal collective investment schemes over a period of 18 years the securities and exchange board of india sebi said that process of refund would be initiated upon realisation of a sizable amount and investors would require to file claims only in the prescribed format upon specific notification in that regard by the committee the committee asked public at large to rely only on the public notices and press releases published by it which are available on sebis website in december 2015 sebi had ordered attachment of all assets of pacl and its nine promoters and directors for their failure to refund more than rs 60000 crore due to investors the biggest amount for any such case pacl had raised rs 49100 crore from nearly 5 crore investors that it needs to refund along with promised returns interest payout and other charges as per the sebi order the proceedings were initiated against pacl as also its promoters and directors recovery proceedings were launched for their failure to refund an amount of rs 49100 crore with return due to investors along with further interest and all costs charges and expenses incurred in the recovery proceedings sebi had asked them to refund the money in an order dated august 22 2014 the defaulters were directed to wind up the schemes and refund money to the investors within three months from the date of the order sp sa