New Delhi, April 7,2016 : The CBI today filed a charge sheet against Pearls Group CMD Nirmal Singh Bhangoo and five others, including two firms, in a case of alleged swindling of over Rs 45,000 crore from over five crore investors in the name of various investment schemes. The charge sheet was filed before Chief Metropolitan Magistrate Charu Aggarwal who took cognisance of it and fixed the matter for scrutiny of documents on April 21. The charge sheet was filed against Bhangoo, his firms Pearl Agrotech Corporation Ltd (PACL), Pearls Golden Forest Ltd (PGF), and its promoters and directors under various sections of the IPC and the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. “I have gone through the charge sheet. I take cognisance. Documents supplied to all four accused. Put up for scrutiny of documents on April 21,” the magistrate said. The CBI has charged the accused of offences, including criminal conspiracy, dishonestly receiving stolen property, cheating and forgery under the IPC, and under Sections 4 and 5 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. In its FIR, the CBI has claimed PACL and PGF were running the schemes illegally and both companies were allegedly engaged in fraudulent activities, including forgery in their day-to-day operations.
@ Agency report.
