Panchkula, Sept. 19 -- The directorate of enforcement (ED) has provisionally attached immovable properties valued at Rs.696.21 crore in Panchkula as part of its ongoing investigation into M/s PACL Limited and its associates under the Prevention of Money Laundering Act (PMLA). The ED's investigation is based on an FIR filed by the Central Bureau of Investigation (CBI) on February 19, 2014, against M/s PACL Ltd., M/s PGF Ltd., the late Nirmal Singh Bhangoo, and others. The FIR was registered under Sections 120-B and 420 of the Indian Penal Code (IPC). The case involves a large-scale fraudulent collective investment scheme operated by PACL. Through this scheme, the company and its associates deceitfully raised and misappropriated approximately Rs.48,000 crore from a large number of unsuspecting investors. This amount constitutes the proceeds of crime (PoC). The ED's probe revealed that the funds collected from millions of investors were "layered" and diverted through a series of complex transactions to hide their illegal origins. A portion of these illicit funds was used to acquire 11 immovable properties, valued at Rs.696.21 crore. This "layering" was intentionally designed to make the assets appear legitimate, thereby attempting to disguise the proceeds of crime. To date, the ED has attached movable and immovable properties worth approximately Rs.2,165 crore, including both domestic and foreign assets. htc...