The economic offences unit on Thursday raided Punjab-based Pearl Agrotech Corporation Limited’s offices at Patna, Siwan, Bhojpur, Purnea, Nalanda and Sasaram and seized Rs 20.29 lakh. Thirty-seven people were arrested, while 13 are absconding.

Additional director-general (headquarters) of police Gupteshwar Pandey said: “The raid was conducted after police received complaint that PACL was collecting money with back-dated receipts despite securities market regulator Securities and Exchange Board of India (Sebi) had put a ban on PACL to collect money from customers.”