ED attaches assets worth ₹1,595 crore in PACL case
The Enforcement Directorate (ED) has provisionally attached 14 immovable properties worth ₹1,595.85 crore belonging to Gian Sagar Educational & Charitable Trust in connection with a large-scale investment fraud by PACL Limited. The probe, initiated based on a Supreme Court directive and a CBI FIR, concerns an illegal collective investment scheme that defrauded investors of over ₹68,000 crore. With this, the total attached assets in the case, both in India and abroad, now amount to approximately ₹28,626 crore.
The Enforcement Directorate (ED) has provisionally attached 14 immovable properties worth ₹1,595.85 crore belonging to Gian Sagar Educational & Charitable Trust in connection with a large-scale investment fraud by PACL Limited. The probe, initiated based on a Supreme Court directive and a CBI FIR, concerns an illegal collective investment scheme that defrauded investors of over ₹68,000 crore. With this, the total attached assets in the case, both in India and abroad, now amount to approximately ₹28,626 crore.
Exam linkage
GS-III: Indian Economy (Financial Markets, Economic Crimes, Money Laundering); GS-II: Indian Polity & Governance (Statutory Bodies, Judiciary, Enforcement Agencies).
Syllabus mapping
This topic appears in Mains
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