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11h ago

ED Attaches ₹696 Crore in PACL Probe, ₹255 Crore in Ramprastha Case

The actions take PACL attachments to about ₹2,165 crore with Ramprastha reaching roughly ₹827.49 crore.

To date, the ED has attached movable and immovable properties worth approximately ₹2,165 crore in this case, including both domestic and foreign assets. (HT Photo for representation)
The crackdown stems from multiple FIRs filed by Delhi and Haryana police’s Economic Offences Wings.

Overview

  • Investigators said 11 properties in Panchkula worth ₹696.21 crore tied to PACL were provisionally attached under PMLA.
  • ED alleges PACL raised and misappropriated about ₹48,000 crore through fraudulent schemes and layered funds via front entities to buy assets in India and abroad.
  • The latest Ramprastha order, issued September 17 by the Gurugram zonal office, covers plots, flats, commercial spaces and land parcels held by the firm, its group companies and relatives of directors.
  • The Ramprastha probe is based on multiple FIRs by the Economic Offences Wings of Delhi and Haryana police over non‑delivery of homes long past promised timelines.
  • Officials said Ramprastha collected about ₹1,100 crore from more than 2,600 buyers for projects launched in 2008–2011, diverted hundreds of crores to group entities, and its two directors arrested in July remain in judicial custody.