Forged SEBI documents used to sell seized land, 2 held
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Choudhary said the scam involved land seized by central agencies from PACL (Pearls Agrotech Corporation Ltd) marked by SEBI for investor repayments. The accused used forged paperwork to falsely claim these plots were available for private sale. During questioning, Tated admitted to creating the fake documents and passing them off as authorised SEBI papers. His associate Ranwa was arrested soon after his name surfaced.
Police said the PACL properties were seized by the CBI and ED, and were to be sold only under supervision of a Supreme Court-appointed committee headed by a retired judge. The accused browsed SEBI's publicly available property listings and used the details to fabricate sale deeds. Fake seals were allegedly procured from Delhi. Land records were tampered with by another associate.
The fraud came to light after the accused sold a plot in Bagru to one Amit Kumar for Rs 98.47 lakh. They received a Rs 14.77 lakh demand draft in SEBI's name, but instead of depositing it in the official SEBI account, they encashed it through a cooperative bank in Sirsa, Haryana, using an account linked to an associate named Sandeep. Police suspect that some bank employees may have facilitated the transaction.
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