ptinews: PACL is the real estate company having the largest land bank in India. It has over 52 successful projects to its credit in areas like Delhi, Noida, Mumbai, Mohali, Zirakpur, Vadodara, Pune, Bhathinda, Ludhiana, Banur and many such areas. But confusion has linked it with a ‘Collective Investment scheme’. So under this, PACL has been asked by SEBI to return Rs 49000 crore to the investors in a very small time frame of 3 month. But this is not fair for the company as well as the investors. Instead of directly affecting PACL’s business and asking it to return the money in such a small time, SEBI should give the company some more time.
This is because if given time, PACL can garner huge amount of revenue from its ongoing and planned projects. This simply means that with more revenues, the investors would get more interest on their investments. It’s a win-win situation for everyone. There is possibly no reason that is sufficient enough to condemn a company if it wants to make more money for the investors. In the times where customers are heavily duped, PACL is trying to earn its investors more reward. Such work ethic is seldom seen.
“The math is simple. If a land sells for amount ‘x’, then the same land, if constructed with a well built structure, would sell for amount ‘10x’. So if given time, PACL can clear all their liabilities and earn their investors multi fold profit. In fact, according to the Land pooling policy in Delhi, If PACL constructs 60% of its 552 acre land, and sells it at the lowest price, this would alone make more than Rs 40,000 crore. So just in two years time, revenue from Delhi alone is sufficient for clearing all our liabilities. What we simply need is time. We are no criminals. We are not duping our investors at all. SEBI hasn’t given us any time.”, said , Official spokesperson for PACL.
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