PACL Money Laundering Case: ED Attaches Assets Worth Over Rs 1,986 Cr In Jaipur, Ludhiana

Jaipur: In a major action in the financial fraud case involving PACL Limited and its associate companies operating a collective investment scheme, the Enforcement Directorate (ED) on Monday provisionally attached 37 immovable properties worth Rs 1,986.48 crore in Rajasthan's Jaipur, and Punjab's Ludhiana.

The ED's Delhi Zonal Office-II took this action under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with an ongoing investigation into a large-scale financial fraud.

In a press release ED said, investigations were initiated into the money laundering case based on an FIR registered by the CBI on February 19, 2014.

Investigation revealed that PACL and its entities operated an illegal collective investment scheme, fraudulently mobilising over Rs 60,000 crore from lakhs of investors across the country under the guise of sale and development of agricultural land. Investors were lured to invest through cash down payment and instalment payment plans, and were made to sign misleading documents, including agreements, powers of attorney, and other instruments.

In most cases, no land was delivered to them as promised and approximately Rs 48,000 crore still remains unpaid to investors. In these cases, land transactions were carried out fraudulently with the help of associate entities, resulting in unlawful gains.

The investigation also revealed that the money collected from investors was routed through associate entities and ultimately transferred to the bank accounts of deceased Nirmal Singh, his family members, and PACL's associate entities. This money was used for purchasing immovable properties in their names.

During the course of investigation, open-ended non-bailable warrants have been issued against deceased Nirmal Singh's wife Prem Kaur, daughters Barinder Kaur and Sukhwinder Kaur, son-in-law Gurpratap, and close associate Prateek Kumar.

In this regard, the ED filed a prosecution complaint in 2018, and two supplementary prosecution complaints in 2022 and 2025 against the accused involved i laundering proceeds of crime. The Supreme Court has also taken cognizance of these. With 37 properties identified, ED has so far attached movable and immovable properties worth Rs 7,589 crore in India and abroad. Further investigation is underway, the release added.

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