PACL Chit Fund fraud has been in news for a long time now. With the arrest of founder of the company Nirmal Singh Bangoo and other PACL directors in January the investors saw some light of hope. But so far no action has been taken in order to refund the money of investors.
It must be noted that Supreme Court had formed LODHA Committee to sale off all properties of PACL and return back the money of the investors within six months from Feb 2nd, 2016. But as on today the committee has not started the refund. The company has duped around six crore investors in India and the refund money amounting to be around 50,000 crore. All the investors are highly disappointed with the pace at which the case has been followed.
Anil Choudhary (Former PACL Director) has been advocating the rights of the investors for a long time now. When he came to know about the fraud, he resigned and formed Parls Worker V Gharak Social Society. The society is actively voicing the concerns of the investors and organized a huge rally, the Jan Aakrosh Rally at Ram Leela Maidan.
Investors and effected citizens around the country attended the rally. He spoke in details about how PACL has diverted the funds outside India and in personal and individual accounts of friends and families to purchase 'Benami' properties. Thousands of crore is diverted in different modes for personal benefits.
"The society has been working very closely with the LODHA committee for the sale of the seized properties. We promise that within few months fund proceeding will start and all investors will be refunded there hard earned money. We will not rest in peace till all investors get their money back," said Anil Choudhary.
The majority of the investors and affected citizens are from the Middle income and the Lower middle income group. Spearheading the concerns of the investors the Parls Worker V Gharak Social Society is working persistently to help them get their dues at the earliest.
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