New Delhi:
Vinesh Chandel, the co-founder and director of political consultancy firm Indian Political Action Committee, or I-PAC, has been granted bail over two weeks after he was arrested in a money-laundering case by the Enforcement Directorate (ED). The probe agency ED did not oppose Chandel’s bail plea in the Patiala House Court.
Chandel was arrested on April 13 under the Prevention of Money Laundering Act (PMLA) in a case linked to an alleged coal scam in West Bengal. His house in Delhi was raided on April 2.
According to the sources, Chandel may become approval in the I-PAC case.
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Money Laundering Case
The ED case is linked to a first information report (FIR) filed by the Central Bureau of Investigation (CBI) in November 2020 that alleged a coal pilferage in Eastern Coalfields Ltd’s mines in West Bengal’s Kunustoria and Kajora, in and around Asansol.
During the investigation, the ED said a “hawala” operator linked to the alleged coal-smuggling ring had helped move tens of crores of rupees to Indian PAC Consulting Pvt Ltd, the firm that runs I-PAC.
The funds were sent
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The ED claimed that the I-PAC created a model to circulate funds and convert black money into white. The I-PAC allegedly received payments in two ways: half through banking channels (cheques/online transfers) and the other half
I-PAC is accused of generating fake invoices to justify these funds and show them as legitimate earnings.
The ED also alleged that Chandel provided false and misleading statements during interrogation. He denied the existence of cash transactions and misrepresented the company’s operations, the agency said.
The agency claimed that Chandel, along with other directors, orchestrated the deletion of crucial emails and financial data from the accounts of company employees to destroy evidence.
