PACL fined for Rs.2,423 crore

PACL and its 4 directors were recently fined of Rs. 2423.1 crores by SEBI, for illegally mobilising Rs 49,100 crore under different schemes.

The money was mobilised over 15 years through unregistered collective investment schemes in violation of the Securities and Exchange Board of India Act, 1992, and SEBI (Collective Investment Schemes) Regulations, 1992.