Chandigarh: The Enforcement Directorate (ED) has provisionally attached 14 immovable properties belonging to the Gian Sagar Educational and Charitable Trust in Punjab as part of its ongoing investigation into the multi-crore PACL investment fraud case.
According to the ED, the attached properties are located in Ramnagar, Punjab, and have a current market value of approximately ₹1,595.85 crore, excluding outstanding bank liabilities. The action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The attachment is linked to the agency’s probe into an alleged large-scale investment fraud involving M/s PACL Ltd. and its associated entities, which are accused of operating an illegal collective investment scheme that allegedly collected funds from lakhs of investors across the country.
The ED stated that with the latest action, the total value of movable and immovable assets attached in the PACL case has reached around ₹28,626 crore. The attached assets include properties located both in India and overseas.
The investigation into the PACL scam remains ongoing, with the agency continuing to trace and attach assets allegedly linked to the proceeds of crime.
