I-PAC founder Vinesh Chandel sent to 10-day custody, ED to interrogate in money laundering case

New Delhi (The Uttam Hindu): The Enforcement Directorate has arrested Vinesh Chandel, director of Indian PAC Consulting Private Limited (I-PAC), in connection with an ongoing probe under the Prevention of Money Laundering Act (PMLA), 2002. A court has remanded him to 10 days of custody for further questioning.

The investigation was initiated based on an FIR registered by Delhi Police. According to officials, multiple instances of financial irregularities and alleged money laundering practices by I-PAC have surfaced during the probe.

Authorities claim that the company was involved in receiving both accounted and unaccounted funds, obtaining unsecured loans without valid business credentials, issuing fake bills and invoices, routing money through third parties, and conducting transactions via international hawala channels.

The ED has stated that I-PAC allegedly handled crores of rupees in illicit funds, with around ₹50 crore recovered so far. During the investigation, statements of several individuals linked to these transactions have been recorded, and searches have led to the seizure of incriminating materials.

Officials also indicated that Chandel’s role has emerged during the probe. Under relevant legal provisions, company directors can be held accountable if offenses are committed with their consent, involvement, or negligence.

After his arrest, Vinesh Chandel was produced before the Patiala House Court, where Additional Sessions Judge Shefali Barnala Tandon ordered his custody late at night. The ED will now continue interrogation to determine further course of action.

Meanwhile, Abhishek Banerjee raised concerns over the timing of the arrest. In a post on X, he said that detaining the I-PAC co-founder just days before the West Bengal elections raises questions about fairness and could impact the principle of a level playing field in a democracy.