PACL Ponzi Case: ED Attaches ₹22,000 Crore Assets
20 March 2026 10:24 PM IST20 March 2026 10:24 PM IST
With the latest action, total attachments in the case have reached ₹22,656.91 crore, including assets in India and abroad linked to PACL and associated entities and individuals
Investors were induced through cash and instalment plans and made to sign documents such as agreements and powers of attorney.
New Delhi: The Enforcement Directorate has attached properties worth over ₹22,000 crore in its money laundering probe against PACL (Pearls Group), marking its largest attachment in a single case.
The agency on Friday said it issued a provisional order under the Prevention of Money Laundering Act to attach 126 immovable properties located in Punjab and Delhi, valued at ₹5,046.91 crore.
With the latest action, total attachments in the case have reached ₹22,656.91 crore, including assets in India and abroad linked to PACL and associated entities and individuals.
The probe, initiated in 2016, is based on a 2014 CBI case registered on Supreme Court directions against PACL Ltd, its late promoter Nirmal Singh Bhangoo and others.
According to the ED, the accused operated an illegal collective investment scheme, mobilising over ₹60,000 crore from investors under the pretext of land purchase and development.
Investors were induced through cash and instalment plans and made to sign documents such as agreements and powers of attorney.
“In the majority of cases, no land was ever delivered, and approximately Rs 48,000 crore remains unpaid to investors,” the agency said.
The ED has filed five chargesheets in the case so far.
The action forms part of an ongoing investigation into alleged large-scale financial irregularities involving PACL.
( Source : Deccan Chronicle )
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