The Enforcement Directorate has provisionally attached 48 immovable properties in Pune, Mumbai and Raigad worth ₹567.45 crore in its money-laundering investigation into the PACL group. The agency said the properties are linked to Prateek Kumar, his son Ansh Prateek Kumar, and three companies allegedly controlled by Prateek Kumar. The latest action takes the total value of assets attached in the PACL case to more than ₹30,235 crore, according to the ED. The investigation concerns alleged diversion of funds collected from investors through a land-linked investment scheme.
ED Attaches 48 Properties Worth ₹567.45 Crore in Maharashtra in PACL Probe
The Enforcement Directorate has provisionally attached 48 properties in Pune, Mumbai and Raigad, taking the total value of assets attached in the PACL probe to over ₹30,235 crore.
The Enforcement Directorate (ED) has attached properties to the tune of Rs 567.45 crore in Maharashtra in connection with its ongoing money laundering probe in the alleged financial fraud by the Pearls group.
The 48 immovable assets are in the names of Prateek Kumar, his son Ansh Prateek Kumar, and three firms: Beaming Infradevelopers Pvt Ltd, Ganraj Properties Pvt Ltd and Greenfield Estates Ltd. The ED said these companies are beneficially owned and controlled by Prateek Kumar.
The latest action takes the total value of movable and immovable properties attached in the PACL case to over ₹30,235 crore, including properties and other assets located in India and abroad, the agency said.
PACL Scam Properties and the ED’s Money Laundering Investigation
The latest attachment has been made under the Prevention of Money Laundering Act 2002. The probe is over alleged diversion and laundering of money collected through the investment scheme of the PACL group.
The ED said its investigation was initiated on the basis of a first information report registered by the Central Bureau of Investigation (CBI) under sections 120-B and 420 of the Indian Penal Code. Thereafter, the CBI filed a charge sheet and a supplementary charge sheet against 33 accused persons.
The allegations at the core pertain to a large-scale collective investment scheme through which PACL and related entities allegedly mobilised over ₹48,000 crore from lakhs of investors across India.
Investors were allegedly induced to make cash down payments and instalment payments for schemes represented as investments in the acquisition and development of agricultural land. The ED said investors signed agreements, powers of attorney and other documents that were allegedly misleading.
In many cases where the promised land was not delivered, and investors are yet to be paid around ₹48,000 crore, the agency said. Those charges are the financial underpinning of a broader probe.
Prateek Kumar’s Role and Previous ED Proceedings
The ED had registered an Enforcement Case Information Report (ECIR) in 2016 and filed its first prosecution complaint in 2018. It then filed six more prosecution complaints in 2022, 2025 and 2026 against individuals and entities allegedly involved in money laundering.
Prateek Kumar is accused number 13 in the first supplementary prosecution complaint filed on 20 August 2022. The ED said a special court had issued an open-ended non-bailable warrant against him on April 9, 2025.
The latest attachment pertains to properties held directly by Prateek Kumar and Ansh Prateek Kumar, as well as properties registered in the name of Beaming Infradevelopers, Ganraj Properties and Greenfield Estates. The ED alleged that these assets were bought from the money siphoned off from PACL investors.
The PMLA provides for provisional attachment. Allegations and claims regarding the properties are subject to the due legal process. The agency said it was continuing its investigation.
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Earlier Attachments and the Wider PACL Investor Case
In the same investigation, the ED attached 45 immovable properties in Delhi with a reported current market value of ₹999.63 crore in August 2026. The move expanded the ambit of the probe into assets allegedly linked with the PACL scheme.
The ED had in September 2018 filed a charge sheet against PACL and its chief Nirmal Singh Bhangoo in a case of allegations that over Rs 49,100 crore were collected from millions of investors through two companies.
The agency attached Australia-based assets of the Pearls group and Bhangoo worth Rs 472 crore in January 2018. Bhangoo, PACL, PGFL, associated companies and thousands of commission agents were charged with swindling 55 million investors with assurances regarding agricultural land.
The allegations said investors were guaranteed land allotments in 90 to 270 days of investment or substantial returns if allotments were not made. The companies are accused of making fraudulent land allotments without having title to the land in their names.
The latest attachment is yet another development in one of the biggest alleged collective investment fraud cases in India. Sprouts News will continue to track more official developments, including further investigative action and proceedings concerning investor recovery.
