Haryana: Ed attached assets worth Rs 696.21 Crore in Messrs's PACL case

New -Delhi, September 18 (IANS). The Delhi Regional Office of the Directorate for Enforcement (ED) temporarily immovable properties worth Rs 696.21 Crore in Panchkula, Haryana under the continued investigation against Messrs PACL and others under the Money Laundry Act (PMLA), 2002. Loders against Messrs. Pacl Limited, Messrs PGF Limited, the late Nirmal Singh Bhangu and others. The case is related to the fraudulent collective investment schemes launched by PACL. The company and its associates raised about Rs 48,000 crore from unknown investors and abused them, which is considered the revenue (POC) of the crime. ED Investigation revealed that it was distracted and laid by various transactions to hide this money. One of these parts was used to buy 11 immovable properties worth Rs 696.21 crore, which was for the names of organizations such as Messrs. Revs Magasity Private Limited, Messrs Sarmati Corresponders Private Limited, Messrs Sarmati Techno Build Private Limited, Messrs Shiv Massity Project Private Limited and Messrs Rosco Builders Private Limited. To make these properties valid, complicated methods were deliberately adopted to hide the revenue of the crime. The ED has so far attached a total of Rs 2165 crore movable and immovable properties in the case, including assets in India and abroad. In addition, a prosecution charge and two supplemental complaints were also filed. The investigation is still on and the ED can continue to act in the case. -Ians shk/dsc share this story tags