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With the latest action, the total value of properties attached so far in the case has reached ₹7,589 crores.
In a statement, the agency said it has temporarily attached 37 immovable properties located in Ludhiana in Punjab and Jaipur in Rajasthan, worth ₹
1,986.48 crore under the Prevention of Money Laundering Act (PMLA).
It said a part of the alleged ill-gotten wealth generated from this fraud was used to acquire these 37 properties.
The ED investigation has been initiated by the CBI case against PACL Limited, its late promoter Nirmal Singh Bhangu and some others.
Bhangu died in August 2024.
The accused entities and individuals of PACL fraudulently operated an “illegal” collective investment scheme ₹According to the ED, Rs 60,000 crore was laundered from lakhs of investors across India under the guise of sale and development of agricultural land.
It said investors were induced to invest through cash advance payments and installment payment schemes and were asked to sign “misleading” documents including agreements, power of attorney and other documents.
“In most cases, no land was ever delivered, and almost ₹The agency said, Rs 48,000 crore has not been paid to investors.
Three chargesheets have been filed so far by the ED under this case registered in 2016.