CBI raids real estate company

Posted On: 2014-09-23 21:55:11

New Delhi : 

   The CBI on Saturday carried out searches at the offices of real estate Companies - PACL and PGF - after registering cases against them on charges of duping investors by promising agricultural land. 

   The agency undertook an inquiry - on the direction of the Supreme Court - to look into allegations of collections of huge deposits from public by the promoters and directors of the companies. The deposits we collected by running pyramidal schemes under the garb of allotment of agricultural land to depositors.      
Source : Hindustan Times-Mumbai (23-FEB-2014)