Biz as usual at Phagwara property

Jalandhar, November 2

While the ED issued orders of attachment of the property, it was business as usual at the Cabbana Resort and Spa.

Officials organised functions today and said they had not yet cancelled any future event. The management said they had learnt about the attachment only through the media.

The resort management claimed while the ED intended to recover Rs 32 crore, the resort property was worth over Rs 400 crore. Dutch national Shivlal Pabbi, a Phagwara-origin NRI, was arrested on July 17 while he was trying to flee to Paris. A shareholder said: “Pabbi was only a 25% shareholder in the resort. So, the entire resort can’t be attached. Even if there are any adverse orders, we will file an appeal against it.” — TNS