Overview
- The attached assets are immovable properties in Punjab and Delhi that investigators say were acquired using investors’ funds and constitute proceeds of crime.
- CBI chargesheets name 33 accused and allege PACL fraudulently mobilised about ₹48,000 crore from lakhs of investors under the pretext of selling and developing agricultural land.
- ED has filed a prosecution complaint (2018) and four supplementary complaints (2022, 2025, 2026), and a PMLA special court has taken cognisance.
- Following continued dissipation of assets, additional FIRs were registered by the Punjab Vigilance Bureau and police in Jaipur and Bengaluru, and SEBI’s Lodha panel was tasked by the Supreme Court to oversee land disposal and investor payouts.
- In a separate action, ED attached two properties worth ₹97.92 lakh linked to former SBI manager Manoj Kumar in a ₹5.4 crore case involving unauthorised debits from deceased or inactive pensioners’ and KCC accounts.