Nirmal Bhangoo's daughter vows to pay back all investors

Tribune News Service

Chandigarh, August 28

Two days after the death of Nirmal Singh Bhangoo, Managing Director of the Pearl Group of Companies, which duped 5.5 cr investors of more than Rs 45,000 cr (60,000 cr as per investors), his daughter has issued a public notice promising to return money of each investor.

Making an emotional appeal in the public notice issued in newspapers, she said, " Sardar Nirmal Singh Bhangoo's life was devoted to a single, unwavering dream of repayment of money to each investor of the Pearls Group."

She said the issues pertaining to the refund of the money to investors of PACL Limited and PGF Limited is being considered by the Supreme Court, which has also formulated 2 committees, the Lodha Committee and the Special Committee, to monitor the refund of money to the investors of PACL Limited and PGF Limited.

As per reports, only 21 lakh investors have got refunds so far. As per Darshan Singh, spokesperson of an organisation, "All India Safety Organisation - of the duped investors, these 21 lakh investors has made very small investments like Rs 19,000."

"On behalf of Pearls Group Family and in the honour of my beloved father, I hereby assure you to extend my unwavering support and provide my complete co-operation to the judicial or quasi- judicial authorities in relation to the repayment of money to each investor of the Pearls Group. will not rest until I see my father's dream-a dream he lived and died for-become a reality. It is my reassurance to each investor of PACL Limited as well as PGF Limited that I will not leave any opportunity to safeguard your rights and I shall always uphold your cause until all of you are repaid," reads the notice, adding that, "I humbly seek your deepest prayers and blessings for the eternal peace of my father's noble soul. His absence leaves a void that will never be filled, but your support will help us bear the unbearable. Let's complete the unfulfilled task together."