Agents of PACL throng Dindigul Collectorate seeking early refund of money
The Hindu
PACL agents petition Collector for refund of investments made 8 years ago, with 400 investors investing ₹1.5 crore in Tamil Nadu.
Hundreds of agents of PACL, a real-estate development company, thronged Dindigul district Collectorate to petition Collector, M.N. Poongodi, seeking early refund of the investment they had made with the company, on Monday.
The agents said that despite the Supreme Court having ordered in 2016 on refunding the money invested by the investors, no refund has been made in the last eight years.
One of the agents M. Jayavel of Oddanchathiram said that he along with his mother had invested ₹ 3 lakh in the company.
“The company said that the investors would get up to 30% profit in quick time. But, we have got nothing so far,” he said.
Besides losing his own money, the agents are also targetted by other investors who had handed over the money to them.
“Often, the investors pick up quarrels with us. We are not able to handle them. We have even sought police protection,” he added.
Mr. Jayavel said that he himself had made some 400 persons invest over ₹ 1.5 crore with PACL. Many of the investors were daily wage earners, he said.
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