Chandigarh: Punjab Vigilance Bureau’s SIT has arrested absconding accused director Prashant from Mumbai airport in the Pearls Bank Corporation Limited case. The accused was trying to flee to Dubai to evade arrest.
A spokesperson for the State Vigilance Bureau said that accused Ashok was wanted in a case registered under Sections 406, 420, 467, 468, 471, and 120-B of the IPC on July 16, 2020, at Police Station Sadar City Bor, District Ferozepur, in connection with the illegal sale of properties of PACL Limited at Village Ho Bolunajaya, Tehsil Derabassi. The accused was aware that the Supreme Court had already restrained PACL Limited from selling the properties of PACL Company at Village Bolunajaya and other places.
The spokesperson of the Bureau said that in the year 2018-19, Phenomenal Construction Private Limited and Projects Private Limited, in connivance with people, built two colonies named Bella Vista-142 on 115 bigha land of PAC in village Gholumajra, which were declared disputed. The Vigilance Bureau has named the promoters of these companies in the said case.
It is worth noting that a committee was formed under the chairmanship of Justice (Retd.) RM Lodha in compliance with the orders of the Supreme Court regarding returning the proceeds from the sale of the properties of PAC Limited to the investors who had invested their hard-earned money in the collective investment scheme presented by the company. The spokesperson further said that the transit demand remand of the said accused has been taken.