ED attaches assets worth ₹1,595 crore in PACL case

The Enforcement Directorate has now provisionally attached 14 immovable properties worth Rs 1,595.85 crore in connection with its investigation into an alleged large-scale investment fraud involving a collective investment scheme operated by PACL Limited and related entities, the authority said on Monday, June 1, 2026.

The properties belonging to Gian Sagar Educational and Charitable Trust are located in Ramnagar of Punjab. In the same situation, ED has so far attached assets worth around Rs 28,626 crore in India and abroad.

The investigation is based on the First Information Report registered by the Central Bureau of Investigation (CBI) as per the direction of the Supreme Court. The CBI also filed main and additional charges against 33 accused, including individuals and companies.

The accused persons collected more than Rs 68,000 crore from investors across the country under the pretext of an “illegal” collective investment scheme. Around ₹48,000 crore remained outstanding to them.

“The scheme was structured through cash down payments and installment-based plans, where investors were encouraged to sign misleading documents such as agreements, special powers of attorney, and other documents. In many cases, registration/allocation letters were issued without ownership of the underlying land, leading to large-scale fraud,” the agency said in an earlier statement.