Following the arrest of Vinesh Chandel, a director and co-founder of I-PAC, the Enforcement Directorate (ED) announced that the political consulting firm is implicated in a money laundering investigation connected to suspected coal smuggling. The ED estimates the amount laundered may reach several crores, with approximately Rs 50 crore identified thus far.<\/p>\n
Chandel, who owns a 33% share in the company, was taken into custody on Monday under the Prevention of Money Laundering Act (PMLA). He was subsequently presented to Additional Sessions Judge Shefali Barnala Tandon at the Patiala House Courts late that night.<\/p>\n
According to sources, the court proceedings lasted from the evening of April 13 until the early hours of April 14, resulting in the ED being granted custody of Chandel for ten days.<\/p>\n
The investigation by the ED was initiated based on a First Information Report (FIR) filed by the Delhi Police.<\/p>\n
\u201cThe Indian PAC Consulting Pvt Ltd has laundered proceeds of crime amounting to several crores, with Rs 50 crore currently detected. The searches conducted yielded significant incriminating evidence, and testimonies from relevant individuals have implicated Chandel, who, as a director, is responsible for the offenses committed with knowledge, consent, or negligence,\u201d a source reported.<\/p>\n
During the inquiry, statements from various individuals involved in the transactions were collected.<\/p>\n
\u201cThe investigation has revealed several layers of alleged money laundering by the firm, including the receipt of both accounted and unaccounted funds, unsecured loans lacking business rationale, the issuance of fraudulent bills and invoices, funds originating from third parties, and cash transactions facilitated through domestic and international hawala channels,\u201d the source added.<\/p>\n
I-PAC, established by election strategist-turned-politician Prashant Kishor, is currently overseeing the Trinamool Congress’s electoral campaign for the 2026 West Bengal Assembly elections.<\/p>\n
Vinesh Chandel, a graduate of the National Law Institute University (NLIU), Bhopal, has been affiliated with I-PAC since its founding. He has a background in journalism and has practiced law at the Supreme Court.<\/p>\n
Chandel is known to have close ties with West Bengal Chief Minister Mamata Banerjee and has been actively involved with the Trinamool Congress both in West Bengal and Meghalaya.<\/p>\n
Mahender Singh Manral serves as an Assistant Editor at the national bureau of The Indian Express, recognized for his compelling and breaking news stories. His reporting focuses on the Ministry of Home Affairs, investigative agencies, and internal security issues.<\/p>\n
Previously, Manral reported extensively on urban crime and covered the anti-corruption branch of the Delhi government for a decade. He has a reputation for his keen news sense and comprehensive understanding of complex stories. Manral has also held positions at Mail Today and The Pioneer, where he focused on crime reporting.<\/p>\n
In the early stages of his career, he worked with The Statesman in the national capital, covering topics such as crime, education, and the Delhi Jal Board. A graduate in Mass Communication, Manral continually seeks stories that have a significant impact on society.<\/p>\n
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Following the arrest of Vinesh Chandel, a director and co-founder of I-PAC, the Enforcement Directorate (ED) announced that the political consulting firm is implicated in a money laundering investigation connected to suspected coal smuggling. The ED estimates the amount laundered may reach several crores, with approximately Rs 50 crore identified thus far. Chandel, who owns […]<\/p>\n","protected":false},"author":2,"featured_media":9080,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[622,40],"tags":[],"class_list":["post-9081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-india","category-india"],"yoast_head":"\n