The investigation into the Rs 45,000 crore scam of Pearl Group has intensified. Now the Justice Lodha Committee appointed by the Supreme Court in this case has given the last chance to all the allottees of Pearl City Mohali and Pearls City/Pearls Township Village Bokhara and Gilpatti, Bathinda to submit their documents.
They have to submit their documents by February 10. Allottees have to send their documents like sale agreement, sale deed, payment proof and bank statement etc. for verification. A firm has been appointed to investigate this matter, people will be able to send these documents by email or post to 505-A, 5th Floor, Ayat-1, District Center, Saket, New Delhi by 5 pm.
The matter reached the Supreme Court in 2016
This matter is going on in the Supreme Court since the year 2016. In this case, the allottees of Pearl City had applied in October 2024 that our rights should be protected. After this, the Supreme Court had again ordered an audit.
Now the audit report has been submitted to the court. Jaspal Singh, General Secretary of Pearl City Mohali Resident Welfare Association, said that the case of the plot owner is going on in the Supreme Court since the year 2016. Now the record of 788 allottees has been submitted to the Supreme Court.
Nirmal Singh Bhanghu died five months ago
Nirmal Singh Bhanghu, the owner of Pearl Group and the mastermind of this scam, was arrested by the Central Bureau of Investigation (CBI) in January 2016. Since then he was lodged in Tihar Jail in Delhi. He died five months ago on August 5, 2024. He was ill for a long time.
At that time his daughter Barinder Kaur Bhanghu had said that my assurance to every investor of PACL Limited and PGF Limited is that I will not leave any chance to protect your rights and I will always protect your interests until all of you get paid.
Opened his own company in 1980
In the 70s, Bhangu went to Kolkata in search of a job. There he worked for a few years in the famous investment company Pearls. After this, he started working in Haryana’s company Golden Forest India Limited, which duped investors of crores of rupees. After the closure of this company, he became unemployed.
With the idea of working in this company, he formed a company named Pearls Golden Forest (PGF) in 1980. On the lines of Golden Forest India Limited, this company also made people invest in plantations of trees like teak and promised to return good profits after some time. By 1996, the company collected crores of rupees. The company was closed due to income tax and other investigations.
Created his empire abroad
After this, he started a new company Pearls Agrotech Corporation Limited (PACL) from Barnala, Punjab. This was a chain system scheme. More than 5 crore people invested money in it, lured by the claims and promises of huge profits given by the company.
