The Enforcement Directorate (ED) has provisionally attached assets worth over ₹10,021 crore belonging to PACL Ltd., part of the Pearls Group, in a major money laundering crackdown. The action has been taken under the Prevention of Money Laundering Act (PMLA).
According to the agency, the attached assets include 247 immovable properties located in SAS Nagar (Mohali), Rupnagar, Zirakpur and other parts of Punjab. With this latest action, the total value of properties attached in the PACL case has reached ₹17,610 crore so far.
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Action linked to 2014 CBI FIR
The ED initiated its probe based on a 2014 CBI FIR that alleged large-scale financial irregularities by PACL. Investigations revealed that the company had collected thousands of crores from investors across the country under the pretext of selling and developing agricultural land.
The scheme offered attractive payment plans, including down payments and instalments, to lure small investors. However, in most cases, the promised land parcels were never allotted, making the operation one of the largest illegal investment schemes in the country.
₹48,000 crore still unpaid to investors
Officials said that PACL mobilised funds from millions of investors nationwide, and nearly ₹48,000 crore remains outstanding to them. The agency has been attaching and identifying properties to facilitate recovery and restitution processes for affected investors.
One of India’s biggest collective investment scams
The PACL case is widely considered among the largest collective investment frauds in India. Over the years, multiple agencies have been involved in tracing assets and securing them to compensate investors.
The ED stated that further investigation is underway to identify additional properties and financial trails linked to the group.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
