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The present petition was being listed along with so many other connected matters and the same were being adjourned on one pretext or the other and as such, this Court decided to keep on hearing and reserving the every petition whenever it was possible. As such, although these petitions were heard on different dates, but the judgments therein are being pronounced simultaneously.

2. The petitioner incarcerated in the FIR captioned above, on the allegations that vide sale deed dated 5.11.2018, he in connivance with Directors and Promotors of PACL Limited and its associate companies had sold land measuring 56 kanal 16 marla, despite the orders of Hon'ble Supreme Court whereby restrictions were imposed on alienation of such properties, has come up before this Court under Section 439 CrPC seeking bail.

4. In paragraph 9 of the bail petition, the accused declares his criminal antecedents as follows:-

      S.No. FIR No.      Date        Offences                            Police Station


      1.       20        3.2.2018    379, 188 IPC and 4(1)21(1) of the Chamkaur
                                     Mines        and        Minerals Sahib, District
                                     (Development & Regulations), Ropar
                                     Act, 1957

5. The crime relates to a massive scam involving the general public's thousands of crores of rupees by two companies, i.e., PACL and PFG Limited. The modus operandi of some of the people controlling the PACL and PFG Limited was to persuade innocent investors to invest in the company's plots and lands with an assurance that their money would be doubled quickly. The companies used the services of various unethical agents, who allured and convinced the people about the validity and genuineness of the claims made by PACL and PFG Limited. In the inquiry conducted by CBI, they got sufficient evidence that PACL and PFG Limited were sister concerns and routing money by laundering. The primary allegations are that some Directors, some employees, some agents and some brokers of PACL, and some other persons, in connivance with a large number of Revenue officials, including the petitioner, who was well aware of the fact that the properties of the PACL were being disposed of at lower circle rates fixed by corrupt Revenue officials, which fact of undervaluation was well within the knowledge of senior Government officers at the highest level.

7. The allegations were that some Directors, some employees, some agents and some brokers of PACL and some other persons, in connivance with large number of Revenue officials, who were well aware of the properties of the PACL, disposed of the properties in a fraudulent and dishonest manner at lower circle rates fixed by corrupt Revenue officials. This fact of undervaluation was well within the knowledge of senior Government officers at highest level.

8. In the meantime, the matter went to the Hon'ble Supreme Court, which constituted a committee headed by former CJI Justice R.M. Lodha (Retd.) for reimbursement of the money belonging to the investors of PACL by disposing of its properties and its associate companies. The order was passed in Civil Appeal No.13301/2015 on 2.2.2016. Subsequently, vide order dated 25.7.2016, the Hon'ble Supreme Court stayed the sale of properties of PACL and PFG Limited. The Lodha Committee issued advisories to the people at large not to deal with the properties of PACL within or outside India.

"20. That the allegations against the accused are that PACL purchased 225 Kanal 12 Marla land in the name of petitioner accused Dharminder Singh, vide sale deed no. 444 dated 27.07.2006 in the village Bahera, District Hoshiarpur. Funds to purchase this land were provided by PACL Ltd. Petitioner Dharmendra Singh had executed a General Power of Attorney of above land in favour of PACL Limited's authorized representative namely Beant Singh S/o Ujagar Singh, Sr. Manager PACL Ltd. on 02.03.2009. General Power of Attorney and original sale deed of above said land was seized and taken into custody by CBI during investigation of its case no.RC.BD1/2014/E/004/CBI/BS&FC/New Delhi dated 19.02.2014. Petitioner illegally sold the land measuring 56 Kanal 16 Marla in Village Bahera vide sale deed, 479 dated 05.11.2018 in connivance with Directors/promoters of PACL Ltd. and its associate companies despite having knowledge of orders of Hon'ble Supreme Court restricting alienation of properties belonging to PACL Ltd, its associate/ group companies/Directors/ Promoters/Agents/Employees and other concerned individuals."