ED attaches 48 properties worth Rs 567 crore in Pune, Mumbai, Raigad in PACL scam

The Enforcement Directorate (ED) has taken major action in the PACL financial scam case. It has provisionally attached 48 immovable properties worth Rs 567.45 crore in Pune, Mumbai and Raigad. The action was taken under the Prevention of Money Laundering Act (PMLA), 2002.

The investigation found that the properties stand in the names of Pratik Kumar, his son Ansh Pratik Kumar and companies linked to them. According to the ED's investigation, money routed out of PACL was used to buy these properties. The money had originally been collected from investors, so the properties have been treated as proceeds of crime.

It is alleged that PACL and its associated entities collected more than Rs 48,000 crore from lakhs of investors across the country in the name of selling and developing agricultural land. Investors did not get the land they were promised. As a result, thousands of crores of rupees remain stuck, and the investigation now appears to be reaching a decisive stage.

The ED began its investigation on the basis of a case registered by the CBI in New Delhi. The case, registered under Sections 120-B and 420 of the Indian Penal Code, alleges running an illegal investment scheme. The CBI has filed a chargesheet and supplementary chargesheets against 33 accused.

According to the chargesheet, investors were lured in the name of the sale and development of agricultural land. Large sums were raised from lakhs of people across the country through different schemes, including lump-sum cash payments and instalments. Agreements, powers of attorney and other documents were signed by investors. Even so, most investors did not actually receive land. The investigation records that about Rs 48,000 crore has still not been returned.

The ED registered an Enforcement Case Information Report (ECIR) on money laundering in connection with the scam in 2016. A prosecution complaint followed in 2018. Six supplementary prosecution complaints were later filed against accused persons and entities in 2022, 2025 and 2026.

Pratik Kumar was named accused number 13 in the first supplementary prosecution complaint filed on August 20, 2022. The special court took cognisance of the case on September 19, 2022. A non-bailable warrant was then issued against Pratik Kumar on April 9, 2025.

With the latest action, properties worth about Rs 30,235.21 crore, movable and immovable, in India and abroad, have now been attached. The ED has said in a press note that further investigation into the scam is continuing.