New Delhi: A Delhi court on Tuesday sent Indian Political Action Committee (I-PAC) co-founder Vinesh Kumar Chandel to 10 days’ Enforcement Directorate (ED) custody in connection with a money laundering probe linked to the alleged coal pilferage case.
Additional Sessions Judge Shefali Barnala Tandon of Patiala House Courts allowed the ED’s plea for custodial interrogation till April 23 after Chandel was produced before the court late on Monday night, with proceedings continuing into the early hours of Tuesday.
The ED had sought Chandel’s custody in a money laundering investigation arising out of an ECIR registered on March 28 on the basis of an FIR lodged by the Economic Offences Wing (EOW), alleging criminal conspiracy, cheating, falsification of accounts and handling of unaccounted funds by M/s Indian PAC Consulting Pvt Ltd and its directors.
In its remand application, the ED alleged that Chandel, a founding director of the company, was “actively involved in the process and activity connected with proceeds of crime” and played a central role in devising a mechanism for “generation, concealment and laundering” of illicit funds.
According to the federal anti-money laundering agency, the company adopted a modus operandi of splitting receipts between banking channels and cash components, including funds allegedly received from political parties, with documentary evidence showing references such as “50 per cent cheque” to indicate bifurcated payments.
The ED further alleged that unaccounted funds were subsequently utilised for election-related expenditure and “other purposes, including influencing public perception”.
The agency also told the court that the company introduced Rs 13.50 crore into its books in the guise of unsecured, interest-free loans from M/s Ramasethu Infrastructure Pvt Ltd during FY 2019-20 and 2020-21 without any loan agreement, collateral, repayment terms or commercial rationale.
It further alleged that bogus invoices were raised to justify receipt of funds from third-party entities without rendering actual consultancy services and that hawala channels were used for the movement of unaccounted funds.
The ED claimed that Chandel made false statements during the investigation, denied cash transactions, and, along with other directors, instructed the deletion of emails and financial data after search proceedings in an attempt to destroy evidence.
Opposing the ED’s plea, Chandel’s counsel argued that the arrest was politically motivated and timed ahead of the Assembly elections in West Bengal and Tamil Nadu, contending that no scheduled offence under the Prevention of Money Laundering Act (PMLA) was made out. However, the court said that at this stage, when the investigation is at a nascent stage, “it cannot be said whether the scheduled offence is made out or not”.
The court observed that statutory safeguards under Section 19 of the PMLA had been duly complied with by the ED and that there were “reasons to believe” Chandel had been actively involved in the alleged laundering of proceeds of crime.
Referring to the material on record, the court observed that Chandel had “made false and misleading statements” during the investigation and had “instructed deletion of e-mails and sensitive data”, indicating an attempt to destroy evidence.
Allowing the remand plea, the court said custodial interrogation was necessary to ascertain the role of other persons involved, unearth further proceeds of crime, and identify the complete modus operandi of the alleged offence.
The court directed that Chandel be medically examined every 48 hours during custody and that his interrogation be conducted at a place equipped with CCTV cameras.
Meanwhile, Trinamool Congress General Secretary and Lok Sabha MP Abhishek Banerjee objected to the arrest, alleging political vendetta ahead of the West Bengal Assembly elections. “The arrest of Vinesh Chandel, co-founder of I-PAC, barely 10 days before the Bengal elections, is not just alarming; it shakes the very idea of a level playing field,” Banerjee said in a social media post.
“If you work with the opposition, you could be next. That’s not democracy, that’s intimidation,” he added.
Banerjee further alleged that Central agencies were being used selectively and claimed the arrest created “an atmosphere of fear, not fairness”.
I-PAC has been serving as the election strategy agency for the Trinamool Congress since 2020.
(IANS)
