Till date, the ED has attached movable and immovable assets worth about ₹ 5,602 crore in this case, which includes assets located in India and abroad. Representative file image. | Photo credit: Reuters
The Enforcement Directorate has provisionally attached 169 immovable properties with a current value of around ₹ 3,436.56 crore in connection with a case of alleged embezzlement of ₹ 48,000 crore by PACL Limited and others.
The properties attached under the Prevention of Money Laundering Act are located in Punjab Ludhiana.
The ED investigation is based on a First Information Report registered by the Central Bureau of Investigation against PACL Ltd., PGF Ltd., group head Nirmal Singh Bhangoo (who died in August 2024) and others, alleging that they were involved in floating fraudulent collective investment schemes through which the company and its associates fraudulently obtained and misappropriated ₹0.00 to investors.
“The ED investigation revealed that part of the funds mobilized from lakhs of investors were used to acquire these 169 immovable properties, currently valued at ₹ 3,436.56 crore, in the name of PACL,” the agency said.
Till date, the ED has attached movable and immovable assets worth about ₹ 5,602 crore in this case, which includes assets located in India and abroad. The agency also filed one main and two supplementary complaints for criminal prosecution.
Published – 18 Dec 2025 22:21 IST
