India's ED attaches ₹1,986 crore in properties linked to a ₹48,000 crore Ponzi scheme by PACL Ltd, part of a broader recovery effort.

The Enforcement Directorate has attached 37 properties worth ₹1,986.48 crore in a money laundering probe linked to PACL Ltd, a firm accused of running a ₹48,000 crore Ponzi scheme. The assets, in Ludhiana and Jaipur, were bought with funds from a fraudulent investment scheme that misled lakhs of investors with false promises of agricultural land development. The ED has now seized assets totaling around ₹7,589 crore, including overseas holdings, and filed multiple charges under the PMLA. Open-ended non-bailable warrants have been issued against associates and family members of late promoter Nirmal Singh Bhangoo. The case stems from a 2014 CBI FIR, with the Supreme Court appointing a committee to oversee fund recovery.