ED Attaches ₹42.13 Crore Shares in PACL Investment Fraud Case
The Enforcement Directorate (ED), Delhi Zonal Office, has provisionally attached equity shares worth approximately ₹42.13 crore in connection with its ongoing money-laundering investigation into the large-scale financial fraud linked to M/s PACL Ltd. and its related entities.
The agency has attached 29,46,341 equity shares of M/s Industrial Investment Trust Limited held by M/s N. N. Financial Services Private Limited under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED, the shares were originally purchased for ₹30.90 crore and had a market value of ₹42,13,26,763, or ₹143 per share, as of September 18, 2026.
The investigation was initiated on the basis of an FIR registered by the Central Bureau of Investigation (CBI), New Delhi, under Sections 120-B and 420 of the Indian Penal Code, 1860. The CBI subsequently filed a chargesheet and a supplementary chargesheet against 33 accused persons allegedly involved in operating an illegal collective investment scheme.
As per the chargesheets, the accused entities and individuals allegedly mobilised more than ₹48,000 crore from lakhs of investors across India by promising the sale and development of agricultural land.
Investors were allegedly encouraged to put money into the scheme through Cash Down Payment and Instalment Payment Plans. The ED said they were also made to sign various documents, including agreements and powers of attorney, which allegedly created the impression that the investments were backed by land transactions.
However, according to the agency, land was not delivered in most cases, leaving approximately ₹48,000 crore unpaid to investors.
The ED registered an Enforcement Case Information Report (ECIR) in 2016 and filed its first Prosecution Complaint in 2018. Six supplementary prosecution complaints were subsequently filed in 2022, 2025 and 2026 against various accused persons and entities in connection with the alleged money-laundering activities.
The latest investigation found that the equity shares of Industrial Investment Trust Limited held by N. N. Financial Services were allegedly financed using funds diverted from PACL. The agency said these funds had originally been collected from investors and therefore constituted proceeds of crime.
With the latest attachment, the ED said it has so far attached movable and immovable properties worth approximately ₹29,667.76 crore, including assets located in India and abroad.
Further investigation in the case is underway.
News Source : Information for this article was gathered from a variety of reliable news outlets.
