The Enforcement Directorate (ED) has provisionally attached 169 immovable properties valued at about ₹3,436.56 crore in Ludhiana, Punjab. This is part of a probe into the misappropriation of ₹48,000 crore by PACL Limited and others. These attachments were made under the Prevention of Money Laundering Act (PMLA). The investigation stems from a First Information Report filed by the Central Bureau of Investigation (CBI) against PACL Ltd., PGF Ltd., and the group chief Nirmal Singh Bhangoo, who died in August 2024. They face allegations of running fraudulent collective investment schemes and cheating investors out of huge sums. “The ED investigation revealed that some part of the funds mobilised from lakhs of investors were utilised for the acquisition of these 169 immovable properties, currently valued at ₹3,436.56 crore, in the name of PACL,” said the Enforcement Directorate. So far, the ED has attached movable and immovable assets worth about ₹5,602 crore in India and overseas linked to this case. The agency has filed one main and two supplementary prosecution complaints in court. This latest move aims to recover investors’ money and crack down on the massive fraud involving PACL's fraudulent investment schemes.