New Delhi, 19 September (H.S.):

The Enforcement Directorate (ED) has taken action in two separate money laundering cases involving drug trafficking and a major investment fraud, attaching immovable properties worth more than Rs 90 lakh in Hyderabad and Mandsaur, along with 2,946,341 equity shares of Industrial Investment Trust Limited having a prevailing market value of Rs 42.13 crore.

According to the ED, the Mandsaur case involves alleged illicit trafficking of mephedrone (MD) valued at approximately Rs 70 crore, from which the accused allegedly generated proceeds of crime. In the PACL case, the investigation has revealed that funds collected from investors were allegedly invested in shares.

According to the ED, its Indore Sub-Zonal Office initiated the investigation on the basis of cases registered under the Narcotic Drugs and Psychotropic Substances Act, 1985. The action by the Delhi Zonal Office, meanwhile, forms part of the ongoing investigation into an alleged large-scale collective investment scheme fraud operated by PACL Limited and entities associated with it. The ED has previously attached substantial assets in connection with the PACL case.

According to the ED, the investigation under the Prevention of Money Laundering Act (PMLA) was initiated on the basis of an FIR registered by the Indore Crime Branch against Ved Prakash Vyas, Dinesh Agrawal, Akshay Agrawal and others. The scheduled offence involves the alleged illegal possession and trafficking of mephedrone in commercial quantities, valued at approximately Rs 70 crore.

During the investigation, the ED found that the accused allegedly generated proceeds of crime in cash through drug trafficking and circulated the funds through several personal and business bank accounts. The financial investigation revealed substantial cash transactions, which the ED said were linked to the holding, layering and concealment of proceeds of crime. Statements recorded during the investigation also reportedly indicated the alleged involvement of the accused in the supply and trafficking of narcotic substances alongside their regular business activities.

The ED said that searches were conducted at multiple premises in Indore and Mandsaur on July 17, 2026. Three persons have been arrested by the agency in the case and are currently in judicial custody. In the latest action, immovable properties worth more than Rs 90 lakh located in Hyderabad and Mandsaur have been provisionally attached.

In the second case, the ED’s Delhi Zonal Office has taken action as part of its money laundering investigation into an alleged collective investment scheme operated by PACL Limited and entities associated with it. The investigation originated from an FIR registered by the Central Bureau of Investigation (CBI) in New Delhi. The CBI subsequently filed a charge sheet and supplementary charge sheets against 33 accused persons.

According to the CBI charge sheets, the entities and individuals concerned allegedly collected more than Rs 48,000 crore from millions of investors across the country in the name of selling and developing agricultural land. Investors were allegedly induced to invest through cash payments and instalment-based schemes and were made to execute various documents, including agreements and powers of attorney.

According to the ED, in most cases the investors were not provided with land, and approximately Rs 48,000 crore is still due to be returned to the investors. The ED registered an Enforcement Case Information Report (ECIR) in the PACL case in 2016 and filed a prosecution complaint in 2018. Subsequently, six supplementary prosecution complaints were filed in 2022, 2025 and 2026.

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Hindusthan Samachar / Jun Sarkar