The Enforcement Directorate (ED) on Monday said it had restored assets worth more than Rs 15,000 crore to a special Supreme Court-appointed committee so that investors allegedly cheated in a ponzi scam by Chandigarh-based PACL (Pearls Group) could get back their dues.The alleged fraud is estimated to be worth Rs 48,000 crore.A special Prevention of Money Laundering Act (PMLA) court ordered the restitution of 455 immovable properties, with approximate current market value of Rs 15,582 crore, to the Justice Lodha Committee, the federal agency said in a statement.Restitution or restoration of assets to the affected entities or victims of fraud, such as cheated banks, depositors and homebuyers, is a remedy available under the PMLA.The ED probe from July 2016 stems from a Central Bureau of Investigation (CBI) case registered in 2014 against PACL Limited, its late promoter Nirmal Singh Bhangoo and some others. The CBI FIR came on the directions of the Supreme Court. Bhangoo died in August 2024.In February 2016, the apex court directed market regulator SEBI to constitute a committee, chaired by former Chief Justice of India RM Lodha, to oversee the liquidation, and restitution of such assets.As part of this probe, the ED has attached properties worth Rs 27,030 crore.These assets are held in the name of PACL Limited, its associate entities and Bhangoo’s family members and associates, including his wife Prem Kaur, daughters Barinder Kaur and Sukhwinder Kaur and sons-in-law Harsatinder Pal Singh Hayer and Gurpartap Singh.The restitution of 455 properties by the special PMLA court marks a “significant” step towards recovery and refund of proceeds of crime to lakhs of investors who were defrauded under the PACL scheme, the agency said.The accused entities and individuals of PACL operated an “illegal” collective investment scheme, fraudulently mobilising more than Rs 60,000 crore from lakhs of investors across India under the guise of sale and development of agricultural land, according to the ED.Investors were induced to invest through cash down payment and instalment payment plans and were made to sign “misleading” documents, including agreements, powers of attorney, and other instruments, it said.“In a majority of cases, no land was ever delivered, and approximately Rs 48,000 crore remains unpaid to investors,” the agency stated.So far, five chargesheets have been filed by the ED in the case.