ED confiscates properties worth ₹762 crore in PACL scam
The Enforcement Directorate just seized properties worth ₹762 crore tied to the massive PACL scam.
These assets—spread across Punjab, Haryana, Delhi, Maharashtra, and even Australia—were bought with money taken from 5.8 crore investors over 18 years.
The directors of Pearl Agro Corporation Limited (PACL) allegedly ran fake land schemes and collected a staggering ₹48,000 crore before getting caught.
PACL scam details
PACL promised land deals but funneled investor money into personal luxuries and overseas properties instead.
The CBI has booked PACL founder Nirmal Singh Bhangoo and others for fraud and cheating, while the ED's actions are under anti-money laundering laws.
Bhangoo's son-in-law Harsatinder Pal Hayer was arrested in March 2025 for moving funds through shell companies in Kolkata and Dubai to make illegal money look legit.