The portal for investors to view status of their claim application has been operational from January 24.
A panel headed by retired Justice R M Lodha had initiated the process of refunds for investors of PACL having claim amount up to Rs 5,000 and till date over 3.81 lakh such investors have been paid.
Consequently, SEBI has revoked its interim directions issued in September last year, wherein it had directed exchanges to appoint an independent auditor to conduct forensic audit of J Kumar.
PACL had raised Rs 49,100 crore from nearly 5 crore investors that it needs to refund along with promised returns, interest payout and other charges, which take the total amount due to more than Rs 55,000 crore, Sebi said on Monday.
Sebi, in August last year, ordered PACL to wind up its unauthorised collective investment scheme (CIS) and refund the money collected from investors within three months. The company was running a land purchase scheme, where it was raising money from public to buy land.