Delhi Court orders probe in Pearl group scam case

PACL was banned in 2015 by the markets regulator for illegally collecting at least ₹49,100 crores from 58 million investors over 18 years.

The Delhi Court ordered the investigating agency to conduct an investigation under audiovisuals CCTV surveillance and permit the presence of the advocate for the Applicant/Accused throughout his interrogation by the CBI in the Pearl Group scam case.

On December 23, 11 more people were arrested who allegedly collected about ₹60,000 crores from close to 5.50 crore investors from all over the country by setting unauthorised schemes. India largest investment Ponzi scheme fraud had reportedly conned 5.5 crore people.

PACL was banned in 2015 by the markets regulator for illegally collecting at least ₹49,100 crores from 58 million investors over 18 years. In 2015, the Supreme Court had formed a panel under retired Justice R.M. Lodha to dispose of PACL’s assets and refund the money,

“Chander Bhushan Dhillon, Prem Seth, Manmohan Kamal Mahajan, Mohanlal Sehajpal, Kanwaljit Singh Toor are the employees of the Pearls Group who have been placed under arrest. Apart from the,m we arrested Delhi, Chandigarh and Kolkata-based businessmen Praveen Kumar Agarwal, Manoj Kumar Jain, Akash Agarwal, Anil Kumar Khemka, Subhash Agarwal and Rajesh,” said a CBI official.

Special Judge Sanjeev Aggarwal also said that custodial interrogation of the above-accused persons would probably draw out important leads and help in extracting the detailed modus operandi adopted by the accused persons in the present case and to work out the entire ramifications of the alleged larger conspiracy between these accused persons and other accused persons.

The Court on December 23 sent them to CBI remand for 2 days. CBI will produce them again before the court today. Advocate Vijay Aggarwal along with Advocates Rhythm Aggarwal and Saurav Chaudhary appearing one of the accused in the case submitted before the court that to achieve a fair investigation the directions laid down by the Supreme Court in the Paramvir Singh case must be strictly followed.

 

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