ED Attaches 211 Immovable Assets Worth ₹646.58 Cr in Pancard Clubs Case
- The Enforcement Directorate attached 211 immovable properties worth approximately Rs 646.58 crore in its money-laundering investigation into Pancard Clubs Limited and related Panoramic Group entities.
- The properties include offices, hotels, resorts, agricultural land, and homes across several Indian states and union territories, and are held by companies, relatives, and beneficial owners.
- The ED alleged that 46 entities ran Ponzi schemes involving more than 51 lakh investors and collected Rs 9,577 crore between 1997-98 and 2017-18.
- Including earlier attachments, the total value of provisionally attached proceeds of crime reached approximately Rs 700.89 crore.
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ED attaches 211 immovable assets worth ₹646.58 cr in Pancard Clubs case
The attached assets comprise offices, luxury hotels, resorts, agricultural land and residential properties across Maharashtra, Kerala, Uttarakhand, Goa, Rajasthan, Himachal Pradesh, Madhya Pradesh, Telangana and Dadra & Nagar Haveli
ED Attaches 211 Properties Worth Rs 646.58 Crore in Pancard Clubs Case
Get latest articles and stories on India at LatestLY. The attached assets comprise commercial office spaces, luxury hotels, operational resorts, agricultural lands and residential properties located across Maharashtra, Keralam, Uttarakhand, Goa, Rajasthan, Himachal Pradesh, Madhya Pradesh, Telangana, as well as Dadra and Nagar Haveli. India News | ED Attaches 211 Properties Worth Rs 646.58 Crore in Pancard Clubs Case.
The ED has attached 211 immovable properties worth ₹646.58 crore under the PMLA in connection with Pancard Club Limited. The case relates to an alleged Ponzi scheme involving over 5.1 million investors. Read the full story.
ED attaches properties worth Rs 646 crore in Pancard Club money laundering case
The Enforcement Directorate's Mumbai wing has provisionally attached 211 immovable properties in the Pancard Clubs case. The assets, valued at about Rs 646.58 crore, were attached under the PMLA, 2002.
The <p style="text-align: justify;">Mumbai Zonal Office-I of the Enforcement Directorate (ED) has provisionally attached about 211 immovable properties worth 646.58 crore rupees in the money laundering case against Pancard Clubs Limited and others. This action has been taken under the Prevention of Money Laundering Act (PMLA), 2002</p>. <p style="text-align: justify;">According to the ED, the attached properties include commercial office spaces,…
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