The Central Bureau of Investigation has decided to fast-track its investigations into alleged ₹45,000-crore chit fund scam by Delhi-based PACL (formerly known as Pearl Agrotech) and its associate companies.

“We have constituted four special teams to look into this case. All possible measures including sending LR (Letter Rogatory) will be initiated,” CBI Director Anil Kumar Sinha told reporters here on Friday.

All cases involving ponzi schemes will be expedited as they involve cheating common people, he added.

The agency has already filed chargesheets in Saradha scam and other similar cases.

The agency is also using LR as there are allegations that promoters of PACL bought property abroad with the help of money illegally collected here. LR conveys a formal request from a court to a foreign court for judicial assistance.

The most common remedies sought by LR are service of process and taking of evidence. This instrument was used in the Bofors case.

Early last year, initial investigation by CBI revealed an alleged scam to the tune of ₹45,000 crore (approximately). It was alleged that PACL and some of its associates raised investments from nearly 6 crore investors through a collective investment scheme under the garb of sale and development of agricultural land.

The agency also registered a case against key personals. However, no arrest has been made so far.

The enquiry found prima-facie evidence of raising investments by issuing bogus land allotment letters to induce the investors.

It was revealed that when the said company, on being directed by the Punjab & Haryana High Court to wind up the scheme and refund the investors, ran a similar fraudulent scheme under the name of another Delhi-based private company, the agency said.

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