New Delhi, September 19, 2026 (Yes Punjab News)
The Enforcement Directorate (ED), Delhi Zonal Office, has provisionally attached 29,46,341 equity shares of Industrial Investment Trust Limited held by N. N. Financial Services Private Limited, with a current market value of Rs 42.13 crore, in connection with its money laundering investigation into the PACL financial fraud case.
The action has been taken under the Prevention of Money Laundering Act (PMLA), 2002, as part of the ED’s ongoing probe into an alleged large-scale financial fraud involving PACL Ltd. and its related entities.
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. The CBI subsequently filed a charge-sheet and a supplementary charge-sheet against 33 accused persons for their alleged roles in operating an illegal investment scheme.
According to the CBI charge-sheets, the accused entities and individuals allegedly operated a large-scale illegal collective investment scheme and mobilised more than Rs 48,000 crore from lakhs of investors across India on the promise of selling and developing agricultural land.
Investors were allegedly induced to invest through Cash Down Payment and Instalment Payment Plans and were made to execute various documents, including agreements and powers of attorney. In most cases, the promised land was not delivered, leaving approximately Rs 48,000 crore unpaid to investors, according to the charge-sheets.
The ED registered an Enforcement Case Information Report (ECIR) in 2016 and filed a Prosecution Complaint in 2018. It subsequently filed six Supplementary Prosecution Complaints in 2022, 2025 and 2026 against various accused persons and entities in connection with the alleged money laundering.
As part of the latest action, the ED said the 29,46,341 Industrial Investment Trust shares were purchased for Rs 30.90 crore and had a market value of Rs 42,13,26,763, based on a valuation of Rs 143 per share as of September 18.
The investigation allegedly revealed that the shares were financed using funds diverted from PACL, which had originally been collected from investors and were treated as proceeds of crime under the money laundering investigation.
With the latest attachment, the ED said it has so far attached movable and immovable properties worth approximately Rs 29,667.76 crore, including assets located in India and abroad.
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