The founder of Delhi-based real estate firm Pearls Agrotech Corporation Limited (PACL) Nirmal Singh Bhangoo was on Friday arrested by the CBI over allegations of cheating the company's investors of $6.8 billion (around ₹45,000 crore). Notably, market regulator SEBI imposed a fine of $1.1 billion on PACL in September last year for raising public funds through illegal investment schemes.