Nirmal Singh Bhangoo

PACL head Nirmal Bhangoo arrested in alleged Rs 45,000 cr investment scam

The case involves alleged collection of about Rs 45,000 crore from roughly 55 million investors across the country

Magnetic pillows to a Rs 50,000 cr empire: How PACL, Nirmal Singh Bhangoo made it big

There have been many ponzi schemes in India's history and then there's Pearls Agrotech Corporation Limited, better known as PACL.

How PACL ran a Rs 50,000 cr ponzi scheme

The Securities and Exchange Board of India(Sebi) in an order issued on August 23, 2014, banned Delhi based PACL, from collecting any more money from investors. Sebi also asked PACL to refund the money to investors over the next three months.<br />

PACL to move SAT against Sebi order to refund Rs 49100 crore to investors

Facing a Sebi order with charges of running an illicit money pooling scheme worth about Rs 50,000 crore, Pearl Agrotech Corporation (PACL) on Sunday said it will approach the Securities Appellate Tribunal (SAT) against the directive of the capital markets regulator.<br />