To date, in this case, the ED has attached movable and immovable properties amounting to about ₹5,602 crore, which includes assets located in India and abroad. Representational file image.
| Photo Credit: Reuters
The Enforcement Directorate has provisionally attached 169 immovable properties, currently valued about ₹3,436.56 crore, in connection with a case alleging misappropriation of ₹48,000 crore by PACL Limited and others.
The properties attached under the Prevention of Money Laundering Act are located in Punjab’s Ludhiana.
The ED probe is based on a First Information Report registered by the Central Bureau of Investigation against PACL Ltd., PGF Ltd., the group chief Nirmal Singh Bhangoo (who died in August 2024) and others, alleging their involvement in floating fraudulent collective investment schemes, through which the company and its associates deceitfully raised and misappropriated about ₹48,000 crore from investors.
“The ED investigation revealed that some part of the funds mobilised from lakhs of investors were utilised for the acquisition of these 169 immovable properties, currently valued at₹3,436.56 crore, in the name of PACL,” said the agency.
To date, in this case, the ED has attached movable and immovable properties amounting to about ₹5,602 crore, which includes assets located in India and abroad. The agency has also filed one main and two supplementary prosecution complaints.
Published – December 18, 2025 10:21 pm IST
