The Enforcement Directorate has facilitated restitution of 455 immovable properties currently valued at about ₹15,582 crore to the Justice Lodha Committee, following a special court directive in the PACL case. The move is aimed at returning the funds invested by lakhs of victims in an alleged fraudulent scheme operated by the group.
During the current financial year, the agency has attached assets worth about ₹26,324 Crore, taking the total attachment in the case so far to ₹27,030 crore. They include properties located both in India and Australia.
ED attaches properties worth ₹10,021.46 crore in PACL case
The attached assets are held in the name of PACL Limited, its group/associate entities, and family members or associates of late Nirmal Singh Bhangoo (group head), including his wife Prem Kaur, daughter Barinder Kaur, son-in-law Harsatinder Pal Singh Hayer, another daughter Sukhwinder Kaur, and son-in-law Gurpartap Singh.
The ED probe is based on a First Information Report registered by the Central Bureau of Investigation (CBI) against PACL Ltd. and its promoters. The accused persons had raised over ₹68,000 crore from investors across the country through a large-scale illegal collective investment scheme. About ₹48,000 crore remained unpaid to the investors.
