ED Attaches ₹5,046 Crore Properties in PACL Case Under PMLA

Key Facts and Developments

The Directorate of Enforcement (ED), Delhi Zonal Office, has provisionally attached 126 immovable properties valued at ₹5,046.91 crore in Punjab and Delhi under the Prevention of Money Laundering Act, 2002, in connection with the PACL Ltd. case.

The action stems from an investigation initiated on the basis of a CBI FIR registered in 2014 under Sections 120-B and 420 of the Indian Penal Code, pursuant to directions of the Supreme Court. The CBI subsequently filed charge-sheets against 33 accused entities and individuals for operating an illegal collective investment scheme.

According to the investigation, PACL and its associated entities allegedly mobilised over ₹48,000 crore from investors across India under the guise of sale and development of agricultural land. Investors were induced through structured payment plans and executed documents such as agreements and powers of attorney, while in most cases, the promised land was not delivered.

The ED has alleged that the scheme involved use of multiple front entities and layered transactions to conceal proceeds of crime and generate unlawful gains. Subsequent investigations also revealed continued dissipation and illegal sale of assets, leading to additional FIRs by state agencies.

With the latest attachment, total assets attached in the PACL case have reached approximately ₹22,656.91 crore. Further investigation in the matter is ongoing.