Sebi Begins Seizing Assets of Property Firm PACL

Mumbai: The Securities and Exchange Board of India (Sebi) said on Monday it had begun seizing bank accounts and financial assets owned by PACL Ltd and its directors, saying the property developer had failed to refund $7.3 billion to investors as ordered.   The country's capital market regulator had ordered PACL in August last year to return money to investors, saying the company was running an illegal investment scheme that promised ...