A Delhi court has issued a notice to the Enforcement Directorate (ED) regarding a bail plea filed by Vinesh Kumar Chandel, co-founder of the Indian Political Action Committee (I-PAC), in relation to a money laundering investigation linked to an alleged coal pilferage case. The Additional Sessions Judge Dhirendra Rana of the Patiala House Courts has requested the ED’s reply on Chandel’s plea and scheduled a hearing for April 29. Chandel is presently in ED custody following an earlier order for 10 days of custodial interrogation until April 23.
The ED had arrested Chandel based on an ECIR registered on March 28, stemming from an FIR filed by the Economic Offences Wing (EOW) that alleged criminal conspiracy, cheating, falsification of accounts, and handling of unaccounted funds by M/s Indian PAC Consulting Pvt Ltd and its directors. The agency claimed that Chandel, as a founding director, actively participated in activities related to the proceeds of crime and was instrumental in devising a mechanism for generating, concealing, and laundering illicit funds.
According to the ED, the company adopted a strategy of dividing receipts between banking channels and cash components, including funds supposedly received from political parties, with indications like “50 per cent cheque” denoting split payments. The agency also alleged that unaccounted funds were utilized for election-related expenses and influencing public opinion. Additionally, it stated that Rs 13.50 crore was introduced into the company’s accounts as unsecured, interest-free loans from M/s Ramasethu Infrastructure Pvt Ltd without formal agreements or commercial rationale.
