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The Enforcement Directorate has provisionally attached 14 immovable properties currently worth ₹1,595.85 crore in connection with its probe into an alleged large-scale investment fraud involving a collective investment scheme operated by PACL Limited and related entities, the agency said on Monday (June 1, 2026).
The properties, belonging to Gian Sagar Educational & Charitable Trust, are located in Punjab’s Ramnagar. In the same case, the ED has so far attached assets valued at about ₹28,626 crore, in India and abroad.
The probe is based on a First Information Report registered by the Central Bureau of Investigation (CBI) following the Supreme Court’s directive. The CBI has also filed a main and a supplementary charge sheet against 33 accused, including individuals and companies.
The accused persons had raised over ₹68,000 crore from investors across the country on the pretext of an “illegal” collective investment scheme. About ₹48,000 crore remained unpaid to them.
“The scheme was structured through cash down payments and instalment-based plans, wherein investors were induced to execute misleading documents such as agreements, special powers of attorney, and other instruments. In many cases, registration/allotment letters were issued without ownership of the underlying land, resulting in large-scale fraud,” the agency earlier said.
Published – June 02, 2026 04:40 am IST
