Mumbai, Dec. 14: The Securities and Exchange Board of India has attached all the assets of PACL and its nine promoters as they had failed to comply with its order to refund Rs 49,100 crore along with interest to investors.

The principal amount stands at Rs 49,100 crore and along with promised returns, further interest, costs, charges and expenses, the company owes more than Rs 55,000 crore.

Sebi said PACL group firm PGFL had also "illegally mobilised more than Rs 5,000 crore'' and failed to refund the money despite directions given by the Securities Appellate Tribunal.

The proceedings have been initiated against PACL as also its promoters and directors - Tarlochan Singh, Sukhdev Singh, Gurmeet Singh, Subrata Bhattacharya, Nirmal Singh Bhangoo, Tyger Joginder, Gurnam Singh, Anand Gurwant Singh and Uppal Devinder Kumar.

The regulator had asked these entities to refund the money in an order dated August 22, 2014. The defaulters were asked to wind up the schemes and refund the money within three months from the date of the order.

Sebi said it had attached all bank and demat accounts and mutual funds folios of the defaulters and this had been communicated to all banks, depositories and fund houses.

All banks, financial institutions, depositories or any person holding assets of the defaulters have been advised not to part with them and report them to the recovery officer.