ED Transfers ₹15,582 Crore PACL Assets to Lodha Panel for Investor Refunds

In a major development in the long-running PACL ponzi scam case, the Enforcement Directorate (ED) has restored assets worth over ₹15,000 crore to a Supreme Court-appointed panel, marking a significant step toward refunding lakhs of defrauded investors.

A special court under the Prevention of Money Laundering Act (PMLA) has ordered the restitution of 455 immovable properties , currently valued at approximately ₹15,582 crore , to the Justice Lodha Committee. The committee, constituted by the Supreme Court of India, is tasked with overseeing the liquidation of assets and facilitating refunds to investors.

The case originates from a 2014 FIR registered by the Central Bureau of Investigation (CBI) against PACL Ltd., its late promoter Nirmal Singh Bhangoo, and others. Acting on Supreme Court directions, the ED initiated its probe in 2016 under anti-money laundering laws.

Investigations revealed that PACL operated an illegal collective investment scheme , fraudulently mobilising over ₹60,000 crore from investors across the country under the pretext of land purchase and development. Investors were lured through installment-based schemes and made to sign misleading agreements, while in most cases, no land was ever delivered. Authorities estimate that around ₹48,000 crore remains unpaid .

So far, the ED has attached assets worth ₹27,030 crore and filed five prosecution complaints in the case. The assets include properties held in the names of PACL, its associated entities, and family members of Bhangoo.

Officials said the latest restitution marks a crucial milestone in recovering proceeds of crime and accelerating the refund process. The agency reiterated its commitment to tracing and returning all remaining assets to ensure justice for affected investors.