There are so many scams that are coming up today, and there are a lot of people who are falling victim PACL refund registration of those scams. Some companies are coming up or just certain individuals who are trying to swindle the little money that some people have. I have never understood why so many people easily fall victim of such practices, but I came to learn many want the easy way out. There are several reasons that I have read about that contribute to people falling victim, but that is for later.
In this article, we will look at the deception and cheat company of India that promised its investors manna, but none of the investors saw it. After so many complaints and the company facing criminal charges, the investors have seen the hope of their money coming back. The cheat company that I am talking about is none other than PACL. This article will highlight the step by step process that you can take to get your money back. It’s is so easy to fall victim of something that you believe its real and no one can convince you otherwise. Either way that’s all past now and what we should focus on is getting your hard-earned money back to your pocket.
WHAT IS PACL
I prefer to start the article here so that I can inform those who don’t have a clue what PACL is to get it and avoid such traps. Pearl Agrotech Corporation Limited or PACL, in short, is a company that is said to have defrauded so much cash from investors with their Ponzi schemes. The company had a scam that they made look so real and lured the poor victims into the trap of investing in them in return they would get high profits. The main scheme of this company was in the agriculture business, and the investors could put their money in the land schemes. So many people fell into this trap as we did say earlier as they were greedy of the high profits they would get in a short time.
However, the results of any scheme are not that sweet as the people realized that there was no profit ever coming to their pockets. Some people had taken out loans, and others pacl refund registration had even borrowed a massive debt from friends, and things were not going right. PACL is estimated to have defrauded over 49k crores from the public investors with their scheme, and since they were not delivering their high profits, they had to take the heat. The government did step in to solve the issues that were in the public outcry.
A committee was initiated by the retired Justice R.M. Lodha Committee to ensure that the company returned the investors’ money. Before that, all the promoters of the swindle scheme are in jail, and many directors lost their jobs. This committee ensured that any person who had invested about Rs.2500 from January 02, 2018, to March 31, 2018. After that, the committee did initiate the second refund, which was for all investors. The investors had to be from the period of February 08, 2019, to July 31, 2019. The second refund process has seen an increase in the number of investors up to 2,077,544 getting up to Rs. 5000.
The committee did not stop there as they are trying to ensure that everyone who did invest in PACL gets the refund. If you happen to be an investor and have no clue how to get the return, I will guide you. There are simple steps that you can follow on you own to get the PACL refund registration.
STEPS FOR PACL REFUND REGISTRATION
For you to do the PACL refund registration, you need to do it online. The PACL refund registration came as a result of the committee constituted by the Securities and Exchange Board of India. The group had to dispose of off the properties of PACL so hat it can be able to pay all the investors that had put their money there. Therefore, for any investor that still has an outstanding claim, he/she can submit their PACL refund registration online.
Therefore, the first step in PACL refund registration is visiting the website www.sebipaclrefund.co.in. Here you will be able to find all the necessary guidelines that you will follow for the PACL refund registration. Before you make PACL refund registration, you will need to ensure that you will not be able to get all the money that you initially invested. The committee will base the refund on the number of claims made to ensure fair distribution first.
If you have an RS.2500 claim, you can now submit the following document for PACL refund registration. After visiting the site this is some of the documents you will need to attach, and they include; the investor name and it should be similar to that in the certificate, together with the money you are claiming and your phone number. Also, for the PACL refund registration, you will need to include the scanned copy of the PACL certificate and a bank statement that is showing your last three transactions. You will need a PAN card too plus a bank account number and IFSC code.
When you have all the required documents, you can then begin your registration firstly by filling your bank verification letter. There are several fields that you will need to fill for example your registration number that is PACL’s, and this will generate a message. After filling the SMS, you will fill the password you like and also have to confirm that password. There are terms of conditions that you will also need to agree to. After doing this, you would have successfully registered for the PACL refund registration and you can now go to your account and process the claim. To submit the request, you need to login by providing your PACL registration number and a password plus a captcha code.
Once logged in you will fill in your bank details, the details of the necessary documents and the PACL certificate and the details of receipt. After filling this first step of the PACL refund registration, you can then save and click next. The second step is where you will need to provide the beneficiary bank account details and then click save and next.
At the third step of the PACL refund registration you are required to upload a PAN scanned photo. Also, at this document page, you will need to upload the cancelled cheque or the letter of verification from the bank.
At the last step of the PACL refund registration is where you will need to provide your PACL certificate and the receipt details. When you do complete this, you can then preview and submit the details, and you will see the detailed application form of the claim. If you want to change the info you can do so, and if the info is right you can go ahead and click, I agree for the final submission.
When you make the final submission, you will get a message that confirms your submission with a number that shows you have made your claim. This is the last step of how to submit for your PACL refund registration. The process is simple, and if you follow it diligently, you will be able to be eligible for the refund.
WHY DO PEOPLE FALL INTO SCAMS LIKE PACL?
There are several reasons why so many people fall for scams like that of PACL, and we will discuss some of them and how you can avoid them.
SCAMS ARE MORE PERSUASIVE AND SEAM LEGITIMATE
One thing that makes so many people fall for scams is the fact that the scams are in such a manner that they seem legit. For example, PACL had a good persuasion strategy that easily lured many people to their trap. The company promised the investors that they could guarantee a huge return in profits if they invested with them in their land projects. Most investors fall for the trap because the reward was so good an the company seemed legit therefore they could not imagine it being a scam. PACL also had done some registrations in the stock exchange, which further increased their credibility among the people. All these are some of the strategies the scam companies use to lure people. Therefore before jumping into investing, you must ensure you have done proper research about the company to ensure this is not a scam business. It’s also essential that you see some red flags on some of their promises which can false.
THEY FEAR MISSING OUT
The other thing about people is that they always want to be associated with something that is promising in nature. Over the past years, there are instances many people have failed to invest in some promising ventures early, which ended up being prominent. This is one of the fears that has grown among the people as they feel that they can miss this kind of opportunities too. Therefore when a scam is cleverly curated, and one can easily buy it, they immediately jump into such traps and end up getting scammed. The fear of missing out is also one major factor that makes people buy scams that end up costing them.
PEOPLE ARE DESPERATE
The other reason why people easily fall for scams is that they are so desperate. Desperation is so bad, and it can easily force you to make a wrong decision. For example, PACL investors were so desperate for the high returns in profit that they would get if they invested in the company. Being desperate for money was the significant motive that forced them to invest in the venture which turned out to be a scam.
EASY TRUSTING NATURE
The final reason that I think makes people fall for scams is the easily trusting nature that people have. When you easily trust something, there is a high chance that you can fall victim of so many scams in life. Therefore, these people do not easily get the hidden clues in scams which seem off the radar that can point to something being fishy. If you are such kind of person, I highly advise that you take your time and figure some things that can act as clues and these can save you a lot from falling in such traps.
To conclude, this article has highlighted a lot concerning the PACL company. We have seen what the company was doing, which attracted so many investors to their company until the fall of the company since it was a scam. We have highlighted the step by step guide that you need to follow for the PACL refund registration if you did invest your money there. The article has also highlighted some of the reasons why people easily fall for scams and some of the things you can do to avoid such traps. I hope this article helps you in solving some of the issues concerning the PACL refund registration.
Can you download the refund form?
The form only works by registering it online and therefore you cannot download it to your device. If you want to file a claim you will go to the website and there you need to follow the steps mentioned above to get your claim. The process is simple and it won’t take you a lot of time to figure out how to file for the claim.
Can you resume where you left when applying your PACL refund?
Yes. You can continue your registration where you last left it as the website will give you the option of saving and then you can exit. If you save you will continue where you left the last time when you log in.
Why does the PACL Refunds website keep failing?
The PACL refunds website might crash because of the high number of traffic that the website gets. So many people are filling for their claims which makes the website slow or even hard to login. You will need to wait for a certain time then try again to see if you can make your claim.