Nirmal Bhangu’s daughter promises to return every investor’s money

Chandigarh: Two days after the death of Nirmal Singh Bhangu, managing director of Pearl Group of Companies, who duped 5.5 crore investors of over Rs 45,000 crore (over Rs 60,000 crore according to investors), his daughter has issued a public notice, promising to repay every investor’s money.

Making an emotional appeal in a public notice issued in newspapers, he said, “The life of Sardar Nirmal Singh Bhangu was dedicated to the repayment of money to every investor of the Pearls Group.” It said the issues related to refund of money to investors of PACL and PGF Ltd are being considered by the Supreme Court, which has constituted two committees which are monitoring the refund of money to investors.