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PACL Ltd had raised money from the public in the name of agriculture and real estate businesses to the sum of more than Rs 60,000 crore through illegal collective investment schemes (CISs) over 18 years. In September 2023, the Supreme Court declined to consider a plea by directors of beleaguered PACL India Ltd. seeking bail in cases related to alleged siphoning off over Rs 40,000 crores, lodged by scores of depositors.
On Tuesday, the Delhi High Court granted interim protection from arrest to Barinder Kaur, whose father, Nirmal Singh Bhangoo, had served as a promoter of PACL (Pearl Agrotech Corporation Limited). The ED had launched an investigation under the Prevention of Money Laundering Act (PMLA) in connection with an alleged ₹48,000 crore Ponzi scheme that reportedly defrauded a large number of investors.
The bench of Justice Girish Kathpalia held, “It is further directed that the petitioner shall join investigation on 25.04.2025 for which she has already been served with a notice. Till next date, no coercive action shall be taken against the petitioner”.
Senior Advocate Sachin Puri and Advocate Arshdeep Singh, appearing on behalf of the petitioner, submitted that the petitioner had received the notice on the same day it was issued, summoning her for appearance before the Investigating Officer on April 25, 2025. Senior Advocate Puri assured the court that the petitioner would comply with the notice, while also seeking interim protection from arrest.
Advocate Vivek Gurnani, representing the Directorate of Enforcement, accepted the notice and informed the court that he had received the case documents only shortly before the hearing. He therefore requested additional time to obtain instructions and file a detailed response.
The court noted that, according to the trial court’s order dated April 16, 2025, anticipatory bail had been denied to the petitioner on the grounds of her failure to join the investigation, despite explicit directions.
Considering the submissions of both parties and to enable a fair hearing, the court adjourned the matter to April 29, 2025. Meanwhile, it reiterated that the petitioner must participate in the investigation on April 25, 2025, in accordance with the notice already issued. The Directorate of Enforcement was instructed to file a status report or detailed reply after serving an advance copy to the petitioner’s counsel.
Importantly, the court emphasized that no coercive measures should be taken against the petitioner until the next date of hearing. However, it clarified that this interim relief was granted solely to ensure a proper hearing and should not be interpreted as an opinion on the merits of the case.
For Petitioner: Senior Advocate Sachin Puri and Advocate Arshdeep SinghFor ED: Advocate Vivek GurnaniCase Title: Barinder Kaur v Directorate Of Enforcement (BAIL APPLN. 1537/2025)[Inputs: Deccan Herald]
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