Pearls Group Supreme Court Update wherein DESIPTE SC STRICTURE, PEARLS GROUP WORTH CRORES SOLID ILLEGALLY.

In this post we’ll read about that despite a ban from the Supreme Court, properties of PACL India Limited, also known as Pearls Group, worth hundreds of crores were fraudulently sold by company representatives and family members of main accused Nirmal Singh Bhangu, including his son-in-law Har Satinder Singh Hayer.

Pearls Group (PACL India Ltd) Supreme Court Update
Pearls Group (PACL India Ltd) Supreme Court Update

Also Read- Illegal sale of assets: Pearls Group owner Bhangu’s son-in-law held

Background Facts

  1. In April this year, the special investigation team (SIT) of Punjab Police probing the case, filed a charge sheet, against the multiple accused in a Ferozepur court. As many as 45 people, including company officials and family members of Bhangu, were booked for cheating, criminal conspiracy and other sections of the Indian Penal Code at Zira police station in Ferozepur district on July 16, 2020.
  2. Several arrests were made by the police on the complaint of one Pardeep Singh of Bhadson in Patiala district.
  3. In 2016, the Supreme Court restrained the PACL or its directors, promoters and others or its associate companies from selling or transferring properties in or outside India. In December 2015, the Securities and Exchange Board Board of India (Sebi) had ordered attachment of all assets of PACL and its nine promoters and directors for their failure to refund money to investors.
  4. Despite a ban from the Supreme Court, properties of PACL India Limited, also known as Pearls Group, worth hundreds of crores were fraudulently sold by company representatives and family members of main accused Nirmal Singh Bhangu, including his son-in-law Har Satinder Singh Hayer, police investigations have revealed. Bhangu is in jail in connection with a ponzi scam involving over ₹48,000 crore.

Also Read- Illegal sale of assets: Pearls group owner Bhangoo’s daughter held from Delhi airport

For case specific advice please contact criminal lawyers advocates in Chandigarh Panchkula Mohali Kharar Derabassi Zirakpur for property fraud and disputes.

For more on 99888-17966.