The Enforcement Directorate has provisionally attached 48 immovable properties valued at ₹567.45 crore across Pune, Mumbai and Raigad in connection with the alleged PACL financial scam, according to a report by Punekar News citing the agency’s investigation. The properties are reportedly held in the names of Pratik Kumar, his son Ansh Pratik Kumar and companies associated with them.
The action has been taken under the Prevention of Money Laundering Act, 2002, as part of an investigation into the alleged diversion of funds collected from investors across India. The attached assets have been classified by the ED as alleged proceeds of crime. The provisional nature of the action means the attachment remains part of the legal process and is subject to proceedings under the applicable law.
According to the report, PACL and entities associated with it allegedly collected more than ₹48,000 crore from millions of investors through investment schemes linked to the sale and development of agricultural land. Investors were reportedly offered the option of making lump-sum payments or paying in instalments. Many allegedly did not receive the land promised under the schemes, leaving substantial amounts outstanding.
The ED’s investigation began after a case was registered by the Central Bureau of Investigation in New Delhi. The underlying allegations include criminal conspiracy and cheating under Sections 120-B and 420 of the Indian Penal Code. The CBI has filed a charge sheet and supplementary charge sheets against 33 accused in connection with the alleged investment schemes.
The ED registered an Enforcement Case Information Report in 2016 in relation to the alleged money laundering. A prosecution complaint was filed in 2018, followed by six supplementary prosecution complaints against individuals and entities in 2022, 2025 and 2026. Pratik Kumar was named as accused number 13 in the first supplementary prosecution complaint filed on August 20, 2022. The special court took cognisance of the matter on September 19, 2022.
A non-bailable warrant was subsequently issued against Kumar on April 9, 2025, according to the report. The agency’s latest action links the properties in Pune, Mumbai and Raigad to funds allegedly diverted from PACL and used to acquire assets.
With the latest attachment, the total value of movable and immovable assets attached by the ED in India and abroad in the PACL case has reached approximately ₹30,235.21 crore, based on figures reported by the agency. The scale of the attachments places the case among major financial enforcement proceedings involving real estate assets and raises practical questions about how attached properties may eventually be administered, adjudicated and dealt with in relation to claims by affected investors.
The investigation remains ongoing. Authorities are continuing to examine the alleged diversion of investor funds and the assets acquired through them, while the legal process concerning the attached properties and the accused proceeds before the relevant authorities and court.
