Simarjit Singh Bains to hold protest with victims of Pearl company scam

Tribune News Service

Jalandhar, September 7

The Lok Insaaf Party has announced to hold a protest along with the victims of the Pearl company scam involving 10 lakh people in the state. Party president and MLA Simarjit Singh Bains on Tuesday told mediapersons here that the Pearl Group had sold assets worth Rs 1,200 crore despite the Supreme Court restraints. He alleged that the company had defrauded at least one million people in the state and embezzled their money.

Simarjit Singh Bains further alleged that leaders of the Akali Dal and the Congress were hand in glove with top management of the Pearl Group. He said after the case was registered, company’s owner Nirmal Singh Bhangu was arrested and the matter reached the Supreme Court. In 2016, the Supreme Court banned the sale of the company’s assets. Despite this, Pearl had sold assets worth Rs 1,200 crore.

Simarjit Singh Bains said 10 lakh families in the state had bought 25 lakh policies from Pearl, valued at Rs 10,000 crore. The total assets of the company in Punjab are around Rs 20,000 crore. The properties are owned by Akali Dal and Congress leaders.

“An agitation would be launched to bring justice to people of Punjab who were cheated by the company. This agitation would be started after the farmers’ agitation ends successfully. He said after coming to power, those swindled by Pearl, would be compensated with interest,” added Bains. MLA Balwinder Singh, district president Jasveer Singh Bagga, Rahul Sharma, ND Pawar, Mahinder Singh Dangarh, Jarnail Nangal, Harprabh Singh, and others leaders were present.