The main accused in the multi-crore Ponzi scheme

The Securities and Exchange Board of India (SEBI) has directed all the banks to attach bank accounts and lockers of Nirmal Singh Bhangoo, the chief promoter of the Pearls Agrotech Corporation Limited (PACL), who duped over 6 crore investors across India, to the tune of Rs. 49,100 crore, by promising them land at a cheaper rate although he and co-promoters of PACL did not possess even an inch of land.