Economic Times revealed the true colours of PACL

One of our free-thinking readers Mr Sruthijith responded and lauded our efforts.


Dear Shyam:

I had come across your website while researching on PACL Ltd. Following is a link to a story i wrote in The Economic Times about the company. Subsequently, regulatory action has been triggered against the company in various parts of the country. Thought you might find this interesting. You are doing great work in sensitizing people against 
MLM fraud. 

http://articles.economictimes.indiatimes.com/2011-06-28/news/29712743_1_pyramid-scheme-land-bank-deposits

regards,
Sruthijith

There are a number of right-thinking people who find reason in our writings. At the same time there are as many number of apologists who blindly support these fraudulent companies. Recently, the renowned Economic Times from the group of M/s Bennett Coleman published an investigative story on the activities of PACL. We have been warning people for the last several years not to fall prey to the evil designs of this fraudulent companies. Still, ill-informed investors have been misguided to invest their hard-earned money into this fraudulent company.

The Madras High Court has pointed out in Apple FMCG case that there are no complaints from the investors against the company is not tenable.

The mobilisation of deposits by PACL itself is illegal and the company has hardly sufficient land to allot to all its depositors. How could they justify the collection of funds in the name of real estate when they have no sufficient real estate.

Corporate Frauds Watch is appealing to the Citizens all over India not to fall prey to the dubious claims of this fraudulent company.