Lodha Committee flags illegal sale of 50 plots in Sector 104
The Pearl Scam in which people were duped of Rs 48,000 crore is making it to the headlines again with about 50 plots sold illegally in Sector 104, one of the prime land attached in the scam. These have been allegedly sold at about one-third of the market rates in back date.
The Supreme Court appointed Justice R M Lodha Committee, the custodian of all the attached properties of the Pearl group, today flagged the illegal sale of the attached property and categorically said that no sale/ purchase was allowed. The Lodha Committee said in a public notice issued today in The Tribune that no family member or anyone other than the committee was allowed to sell the property of the Pearl group.
For the last few weeks, massive construction activity had been going on in the sector, where people had erected boundary walls and some had constructed a few rooms also to claim possession. In the name of ownership, they don’t have any registration of property but only a letter of possession issued by an ‘unidentified’ authorised signatory.
Even though there was no registration, people have got power supply connections and installed water pumps. As per sources, influential people, including police, legal and politicians, are involved in the illegal possession and construction. A prominent AAP leader too had shown interest in real estate deals of Sector 104, besides Sector 100. Sources said plots had been sold at the rate of Rs 15,000 per square yard while market price was about Rs 45,000 per sq yard. Some of the plot owners have even hired bouncers for security.
The notice says: “The public at large is further made aware that in terms of the above mentioned order dated February 2, 2016, passed by the Supreme Court, only the Justice (retd) RM Lodha Committee is authorised to sell the properties of PACL Ltd or properties wherein PACL Ltd or any of its associates/subsidiaries has any interest/right, directly or indirectly.”
It further stated: “It is clarified that family members of late Nirmal Singh Bhangoo, including his wife Prem Kaur and daughters Barinder Kaur and Sukhwinder Kaur, have no authority whatsoever to deal with properties of PACL Ltd or properties wherein PACL Ltd or any of its associates/subsidiaries has any interest/right, directly or indirectly, situated in India or outside India.”
The Pearl scam is one of India’s largest Ponzi schemes. The Pearl Group, led by Nirmal Singh Bhangoo, allegedly defrauded over 5.5 crore investors of approximately Rs48,000–Rs 60,000 crore by promising them agricultural land and high returns on investments. However, the promised land was either non-existent or unusable.
Bhangoo, the mastermind, was arrested in 2016 by the CBI. Starting as a milkman in Punjab, he rose to prominence by running investment schemes that promised high returns. He passed away in 2024. Harsatinder Pal Singh Hayer, Bhangoo’s son-in-law, was arrested in March 21, 2025, by the Enforcement Directorate (ED) for his alleged involvement in laundering proceeds of the scam.
The Enforcement Directorate (ED) has also attached properties worth Rs 244 crore in India and Rs 462 crore in Australia. These include real estate assets and financial instruments. The group reportedly owned Sectors 100 and 104 in Mohali, which were planned as residential townships.
The Lodha Committee has the primary responsibility to oversee the disposal of attached properties and ensure restitution of funds to the victims of the scam.
