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SIT to Probe Pearl Company that cheated nearly 10 lakh people in Punjab: Vigilance Bureau
Published : May 27, 2023, 12:56 pm IST
Updated : May 30, 2023, 3:41 pm IST
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Pearl Company
Pearl Company

Supreme Court Committee had issued orders to auction the property of Pearl Group

MOHALI: The SIT of the Punjab government will now investigate the Pearl Group, a company that has cheated nearly 10 lakh people of Punjab. It will have 6 members. The SIT will be chaired by Vigilance Bureau Director Rahul S. Other members of the team include Joint Director Vigilance Kanwaldeep Singh, AIG Vigilance Daljit Singh Rana, DSP Slamudin, DSP Navdeep Singh, Inspector Mohit Dhawan and Inspector Madhvi Kalyan. These orders have been issued by the Chief Director of Vigilance Bureau.

Before handing over the probe to the vigilance, a case was registered against the Pearl Group earlier in Ferozepur's Zira police station on charges of cheating, forging documents, for transactions worth crores of rupees.

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As per the report, Pearl Group has invested in the properties of around 5.50 crore people in the country and earned about Rs 60,000 crores. The company embezzled money by giving fake allotment letters to the investors. The Supreme Court Committee had said to auction the property.

According to the sources, it has come to light that the Punjab government had supported the Lodha Committee appointed by the Supreme Court in this matter. One and a half lakh investors approached the committee and after that the committee asked the Punjab government to auction the property of Pearl Group. Now, the newly constituted SIT will probe all aspects and prepare a detailed report identifying the assets of his Pearl Group.

Assistant Vigilance Attorney Shaunak Bali will represent the case. This team will also collect information related to the company's assets. The team will find out how many people have been cheated by Pearl Company in which districts. Recently, Chief Minister Bhagwant Mann had said that the company has a lot of property in Punjab. The state government will legally take over the property of Pearl Company.

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ROZANA SPOKESMAN

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