Punjab Vigilance Bureau has taken major action in the Pearls Agrotech Corporation Limited (PACL) scam of Rs 50 thousand crore. Vigilance on Tuesday arrested one of the illegally appointed directors of the company, Dharminder Singh Sandhu, resident of Rama Mandi. A case was registered against Sandhu in February at the State Crime Police Station in Mohali under various sections including fraud, tampering with documents. Vigilance is probing the matter. On the other hand, the names of Hridayapal Singh Dhillon, Sandeep Singh Mahal and Dharminder Singh Sandhu have been removed from the list of company directors from the website of the Ministry of Corporate Affairs (MCA).

According to Vigilance, the Extra Ordinary General Body Meeting (EOGM) of PACL was held on January 1, 2022 at the registered office of the company in Jaipur (Rajasthan), although this office has been closed for 7-8 years. Apart from this, on the basis of fake proceedings of EOGM, three new directors of PACL, Hridayapal Singh Dhillon, Sandeep Singh Mahal and Dharminder Singh Sandhu were appointed, whereas in reality this meeting never took place.

The accused submitted their forged documents to the Registrar of Companies, Jaipur, through Jaswinder Singh Dang, a Chartered Accountant (CA), Ludhiana, and got their names registered as directors of PACL Limited on the website of the Ministry of Corporate Affairs (MCA). Sandeep Singh Mahal and CA Jaswinder Singh Dang have already been chargesheeted in this case and are in judicial custody.

These three illegally appointed directors issued notices, signed by Sandeep Singh Mahal, to various persons who had purchased the assets of PACL Limited without the permission of the Supreme Court committee headed by Justice (retd) RM Lodha and demanded money from them. started charging. Let us tell you that a committee was formed under the chairmanship of Justice RM Lodha on the orders of the Supreme Court to sell the assets of PACL and return the proceeds from the sale to the investors of Pearls.