Thu Dec 18 16:51:53 UTC 2025: Summary:

The Enforcement Directorate (ED) in India has seized 169 immovable properties worth approximately ₹3,436.56 crore in Ludhiana, Punjab, belonging to PACL Limited. This action is part of an ongoing investigation into the company’s alleged misappropriation of ₹48,000 crore from investors through fraudulent collective investment schemes. The investigation stems from an FIR filed by the CBI. This latest seizure brings the total value of attached PACL assets, both movable and immovable (including overseas assets), to ₹5,602 crore. The ED has also filed prosecution complaints related to the case.

News Article:

ED Seizes ₹3,436 Crore in PACL Assets Amid ₹48,000 Crore Fraud Probe

New Delhi, December 18, 2025 – The Enforcement Directorate (ED) has provisionally attached 169 immovable properties in Ludhiana, Punjab, valued at ₹3,436.56 crore, belonging to PACL Limited. The action is connected to an ongoing investigation into the company’s alleged misappropriation of ₹48,000 crore from investors through fraudulent collective investment schemes.

According to the ED, the properties were acquired using funds siphoned off from lakhs of investors. The investigation was initiated based on a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) against PACL Ltd., PGF Ltd., and the late group chief Nirmal Singh Bhangoo.

“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…in the name of PACL,” stated an agency spokesperson.

With this latest seizure, the total value of assets attached by the ED in this case now stands at ₹5,602 crore, encompassing both movable and immovable properties located in India and abroad. The agency has also filed multiple prosecution complaints as part of its efforts to bring those responsible to justice.

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