ED attaches assets worth ₹567.45 crore in PACL case
The Enforcement Directorate has attached assets worth ₹567.45 crore linked to the PACL investment fraud case. This action brings the total value of seized assets in the ongoing investigation to over ₹30,000 crore.
Why it matters
This represents a significant recovery effort in one of India's largest financial fraud cases involving collective investment schemes.
The Enforcement Directorate (ED) has provisionally attached 48 immovable properties currently worth ₹567.45 crore in connection with the PACL case, taking the total value of assets attached so far in India and abroad to about ₹30,235.21 crore.
The properties are located in Pune, Mumbai, and Raigad of Maharashtra. They are held in the names of accused Prateek Kumar, his son Ansh, Beaming Infradevelopers Private Limited, Ganraj Properties Private Limited and Greenfield Estates Limited, the agency said on Thursday.
The ED probe is based on a case registered, and charge-sheets filed against 33 accused persons, by the Central Bureau of Investigation (CBI). The accused entities and persons operated an illegal collective investment scheme, fraudulently mobilising over ₹48,000 crore from lakhs of investors across India on the pretext of sale and development of agricultural land.
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