Realty players offer to buy PACL land in bulk

PACL was allegedly carrying on an investment scheme, though it dressed it up as a real estate

The Lodha committee has received proposals totalling more than Rs 3,300 crore from realty and infrastructure players to buy large parts of the huge land bank accumulated by PACL (formerly Pearls Agrotech Corp).
 
Companies like Sunland Properties, WS Infra, CRS & Associates, and some individuals have written to the committee, expressing an interest in big chunks of properties, some of them running into thousands of acres. These proposals cover land and other properties across a dozen states including Delhi, Maharashtra, Karnataka, UP, MP, Andhra, Telangana, and Tamil Nadu.
 
Separately, the company’s promoter, Nirmal Singh Bhangoo, has also submitted