ED seizes assets worth Rs 999.66 crore in PACL money laundering case

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PACL assets attached by ED

Highlights

The Enforcement Directorate has provisionally attached 45 immovable properties of Worldwide Real Estate, Housing Project, and Infrastructure worth Rs 999.66 crore in the PACL money laundering case.
PACL and its associate entities collected over Rs 48,000 crore from investors across the country in the name of agricultural land development, with most investors yet to receive their land.
So far, the ED has attached assets worth approximately Rs 29,625.63 crore of PACL and related companies, both in India and abroad.

This article was translated from the original. Read the original version by our correspondent here.

Attachment Action and Basis of Investigation

According to the Enforcement Directorate, the Delhi Zonal Office has provisionally attached 45 immovable properties of M/s. Worldwide Real Estate Pvt. Ltd., M/s. Worldwide Housing Project Pvt. Ltd., and M/s. Worldwide Infrastructure Pvt. Ltd. under the Prevention of Money Laundering Act, 2002. This action is part of the ongoing investigation into the money laundering case linked to the alleged illegal collective investment scheme run by M/s PACL Ltd. and its associated entities.

The investigation began based on an FIR registered by the Central Bureau of Investigation, New Delhi under sections 120-B and 420 of the Indian Penal Code. Subsequently, the CBI filed charge sheets and supplementary charge sheets against 33 accused, highlighting their alleged roles in running the illegal investment scheme.

ED registered an ECIR in this case in 2016 and filed a prosecution complaint in 2018. Thereafter, in 2022, 2025, and 2026, six supplementary prosecution complaints were filed against various accused and entities.

Extent of Investor Fund Misuse

According to the charge sheets, the accused entities and individuals allegedly collected over Rs 48,000 crore from millions of investors across the country in the name of agricultural land sale and development. Investors were encouraged to invest through cash down payments and installment plans, and were made to sign misleading agreements, powers of attorney, and other documents.

The agency states that in most cases, the land was never handed over and nearly Rs 48,000 crore is still not returned to investors. The investigation also revealed that the 45 properties now attached were purchased using investors' funds and are considered proceeds of crime.

According to the ED, the funds allegedly diverted from PACL were used to finance properties registered in the names of these three companies. With this latest action, the agency has so far attached assets worth approximately Rs 29,625.63 crore, including movable and immovable properties located in India and abroad.

Our previous report detailed the ED's provisional attachment of assets worth Rs 8.54 crore of Hemant Ishwar Sharma under PMLA, 2002 in the alleged Bitcoin investment fraud case in Uttarakhand. According to the investigation, funds collected from investors with promises of high returns through BTCFUND.IS were allegedly laundered via crypto exchanges and invested in immovable properties, vehicles, and home renovations.

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