The Enforcement Directorate has temporarily attached 48 immovable properties in Pune, Mumbai and Raigad valued at Rs 567.45 crore in its investigation into the PACL scam, in which millions of investors across India were allegedly defrauded of more than Rs 48,000 crore.
The action was taken under the Prevention of Money Laundering Act and covers properties held in the names of main accused Pratik Kumar, his son Ansh Pratik Kumar, and entities linked to them, including Beaming Infradevelopers, Ganraj Properties and Greenfield Estates. The total market value of the attached properties is Rs 567 crore 45 lakh 52 thousand 392, according to the report.
The investigation began on the basis of an FIR and charge sheet filed by the Central Bureau of Investigation in New Delhi. The ED said the case concerns funds allegedly collected from investors in the name of agricultural land sales and development. Investors were reportedly asked to make one-time cash payments or pay in instalments, while signing agreements, powers of attorney and other documents.
According to the findings cited in the report, most investors did not receive the promised land and were not refunded their money. The ED’s investigation has alleged that properties were acquired using funds diverted from PACL and money collected from investors. The attachment covers assets registered to the accused individuals and the three associated companies.
The PACL case has a substantial real-estate dimension because the alleged fundraising model was connected to land transactions. The latest action therefore affects not only the financial investigation but also the legal status of properties spread across three important Maharashtra jurisdictions. Temporary attachment prevents the assets from being transferred or dealt with during the proceedings, subject to the applicable legal process.
The ED began its money-laundering investigation in 2016 and filed a complaint in 2018. Six supplementary prosecution complaints were filed against the accused in 2022, 2025 and 2026, the report said. A non-bailable warrant was also issued against Pratik Kumar in April 2025.
With the latest attachment, the ED has said that it has so far seized movable and immovable assets worth approximately Rs 30,235.21 crore in India and abroad in connection with the case. The figure includes assets attached through earlier actions, while the latest properties are located in Pune, Mumbai and Raigad.
The action does not by itself transfer ownership of the properties to investors or establish final guilt. Asset attachment under the money-laundering law remains subject to adjudication and further proceedings. The ED said that its investigation into the financial scam is continuing.
