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SHi everyone,
Back in 2008, my parents invested in PACL through an agent. It was their second time investing – the first time they got their money back with profits, so they trusted the process again. They completed their 60-month investment period in 2013 but never received any money this time around.
Later, SEBI banned PACL and started handling refunds. The agent kept telling my parents that SEBI prioritises refunds for smaller investments first and assured them he would let them know when it was their turn. That went on for a few years, and now, for the last 5-6 years, he just says the same thing every time: *”You’ll get the money, but there’s no timeline.”*
Recently, I decided to check for myself and went to SEBI’s PACL refund portal. When I entered their certificate number, I got a message saying the refund request window had lapsed in 2019 and now we have to wait for the Lodha Committee for further instructions. This message has been the same for years.
The amount isn’t life-changing, but my parents are emotionally attached to getting it back and still call the agent every few months. Do you think any legal recourse or hope is left at this point? Should I sit them down and tell them it’s probably gone?
**TL;DR:** My parents invested in PACL and didn’t apply for a timely refund, so we’re stuck waiting on the Lodha Committee. Is there any chance of recovery or legal action we can take?
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