Saturday, January 16, 2016

Enforcement Directorate probes PACL

  • The Enforcement Directorate (ED) has initiated an inquiry against PACL for alleged money laundering under the Prevention of Money Laundering Act.
  • SEBI had found that the company had raised about Rs 49,100 crore from 50 million investors through a collective investment scheme, which is illegal.
  • The mobilization of funds by PACL dates back to 1990s.
  • The ED’s decision comes on the heels of a SEBI order, issued a fortnight ago, to attach all the assets of the company and its directors.


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