Overview
- The provisionally attached immovable assets are in Ludhiana and Jaipur and are treated under the PMLA as alleged proceeds of crime.
- Investigators allege PACL ran an unregistered collective investment scheme that raised more than ₹60,000 crore by promising agricultural land to lakhs of investors.
- The ED says investor funds were routed through front entities into accounts of late promoter Nirmal Singh Bhangoo, his family and associates, and used to buy properties.
- The probe stems from a 2014 CBI FIR, with the ED filing an ECIR in 2016, a prosecution complaint in 2018, and supplementary complaints in 2022 and 2025 that a special PMLA court has taken cognisance of.
- Open-ended non-bailable warrants remain outstanding for Bhangoo’s wife Prem Kaur, daughters Barinder and Sukhwinder, son-in-law Gurpratap Singh and associate Prateek Kumar.