New Delhi: A Delhi court on Thursday sent Indian Political Action Committee (I-PAC) co-founder Vinesh Kumar Chandel to 14 days’ judicial custody in connection with a money laundering probe linked to an alleged coal pilferage case.
The order was passed by Additional Sessions Judge Dhirendra Rana of the Patiala House Courts, who directed that Chandel be remanded to judicial custody till May 7 following the expiry of his Enforcement Directorate (ED) custody.
Earlier in the day, the court had issued notice to the ED on a bail plea filed by Chandel and sought the federal anti-money laundering agency’s response, posting the matter for hearing on April 29.
Earlier, on April 14, a Delhi court had sent Chandel to 10 days’ ED custody after he was produced before the court late at night, with proceedings continuing into the early hours.
Additional Sessions Judge Shefali Barnala Tandon had allowed the federal anti-money laundering agency’s plea for custodial interrogation till April 23.
The ED had arrested Chandel in connection with an ECIR registered on March 28, based on 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 had claimed 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 the “generation, concealment and laundering” of illicit funds.
According to the agency, the company allegedly adopted a modus operandi of splitting receipts between banking channels and cash components, including funds purportedly received from political parties, with references such as “50 per cent cheque” indicating bifurcated payments.
It further claimed that unaccounted funds were used for election-related expenditure and other purposes, including influencing public perception.
It also claimed that Rs 13.50 crore was introduced into the company’s books in the guise of unsecured, interest-free loans from M/s Ramasethu Infrastructure Pvt Ltd without any formal agreements or commercial justification.
The ED has accused the company of raising bogus invoices to justify fund inflows without rendering actual consultancy services and using hawala channels for routing unaccounted money. It further alleged that Chandel made false statements during the investigation and, along with other directors, instructed deletion of emails and financial data after search proceedings in an attempt to destroy evidence.
Opposing the ED’s earlier remand plea, Chandel’s counsel had argued that the arrest was politically-motivated and timed ahead of Assembly elections, contending that no scheduled offence under the Prevention of Money Laundering Act (PMLA) was made out.
However, the court, while granting ED custody earlier, had observed that there were “reasons to believe” that Chandel was involved in the alleged laundering of proceeds of crime and had made “false and misleading statements” during the investigation.
(IANS)
