Punjab vigilance bureau nabs wife of Pearls Group MD

Prem Kaur was nominated in a case for allegedly alienating properties belonging to PACL Ltd. and its subsidiary/group companies in Punjab and authorizing a close confederate to sell out the properties belonging to PACL Ltd. in violation of the order of the Supreme Court

The Punjab vigilance bureau (VB) on Thursday arrested Prem Kaur, wife of Nirmal Singh Bhangoo, the managing director, Pearls Golden Forest (PGF) Ltd.

The spokesperson said a special investigation team (SIT) of the bureau arrested her in a case registered on July 16, 2020, under Sections 406, 420, 467, 468, 471 and 120-B of the IPC at Zira police station in Ferozepur. She did not join the investigation in this case and was absconding.

Prem Kaur was nominated in a case for allegedly alienating properties belonging to PACL Ltd. and its subsidiary/group companies in Punjab and authorizing a close confederate to sell out the properties belonging to PACL Ltd. in violation of the order of the Supreme Court, according to a spokesperson of the vigilance bureau.

The spokesperson said a special investigation team (SIT) of the bureau arrested her in a case registered on July 16, 2020, under Sections 406, 420, 467, 468, 471 and 120-B of the IPC at Zira police station in Ferozepur. She did not join the investigation in this case and was absconding.

Giving details, the spokesperson further said Prem Kaur was a director in many group/subsidiary companies of PACL which include Gian Sagar Heathcare Ltd, Uphill Towers Private Ltd, Maktoum Developers Pvt Ltd, Pearls Hospitality Hotels and Resorts Pvt Ltd, Walia and Mazumder Realtors Pvt Ltd, Harvindera Industries Pvt Ltd, Pearls Sports Ventures India Ltd and Pearls Brands Ltd. Bhangoo has already been chargesheeted by the CBI in the PGF/PACL Ltd Ponzi scam.