New Delhi, April 14 (NationPress) A Delhi court has ordered the custody of Vinesh Kumar Chandel, co-founder of the Indian Political Action Committee (I-PAC), for 10 days under the Enforcement Directorate (ED). This is part of an ongoing investigation concerning money laundering linked to a suspected coal pilferage case.

Additional Sessions Judge Shefali Barnala Tandon of the Patiala House Courts granted the ED's request for custodial interrogation until April 23, following Chandel's appearance before the court late Monday night, with proceedings extending into the early hours of Tuesday.

The ED's request for Chandel’s custody stems from a money laundering inquiry initiated by an ECIR registered on March 28, based on an FIR filed by the Economic Offences Wing (EOW). This FIR alleges criminal conspiracy, cheating, falsification of accounts, and the mishandling of unaccounted funds by M/s Indian PAC Consulting Pvt Ltd and its directors.

In its remand application, the ED claimed that Chandel, as a founding director of the company, was “actively engaged in processes related to proceeds of crime” and played a pivotal role in establishing a system for generation, concealment, and laundering of illicit funds.

The federal anti-money laundering agency stated that the company employed a practice of splitting revenues between banking transactions and cash, which included funds purportedly received from political parties. Evidence was presented showing terms like “50 per cent cheque” as indications of bifurcated payments.

The ED further alleged that unaccounted funds were later used for election-related expenses and “additional purposes, including influencing public perception.”

The agency informed the court that the company recorded Rs 13.50 crore as unsecured, interest-free loans from M/s Ramasethu Infrastructure Pvt Ltd during FY 2019-20 and 2020-21, lacking any loan agreements, collateral, repayment terms, or commercial justification.

It was also claimed that fake invoices were created to justify the reception of funds from third-party entities without providing actual consultancy services, and that hawala channels were utilized for transferring unaccounted funds.

The ED asserted that Chandel provided false information during the investigation, denied cash transactions, and, along with other directors, directed the deletion of emails and financial records following search operations to destroy evidence.

Countering the ED's motion, Chandel's legal counsel contended that the arrest was politically motivated, occurring just before the Assembly elections in West Bengal and Tamil Nadu, asserting that no scheduled offense under the Prevention of Money Laundering Act (PMLA) had occurred. However, the court remarked that at this early stage of the investigation, it cannot be determined whether a scheduled offense has taken place.

The court noted that statutory protections under Section 19 of the PMLA were properly adhered to by the ED and indicated “reasons to believe” that Chandel was actively involved in the alleged laundering of proceeds of crime.

Referencing the available evidence, the court stated that Chandel had “made false and misleading statements” during the investigation and had “instructed the deletion of emails and sensitive data,” which suggested an attempt to eliminate evidence.

Granting the remand request, the court emphasized that custodial interrogation is essential to uncover the involvement of other parties, trace further proceeds of crime, and discern the complete operational method of the alleged offense.

The court mandated that Chandel undergo a medical examination every 48 hours during custody and specified that his interrogation must occur in a location equipped with CCTV cameras.

In the meantime, Abhishek Banerjee, General Secretary of the Trinamool Congress and Lok Sabha MP, condemned the arrest, alleging it was politically motivated in light of the upcoming West Bengal Assembly elections. “The arrest of Vinesh Chandel, co-founder of I-PAC, just 10 days before the Bengal elections is not merely alarming; it undermines the concept of a level playing field,” Banerjee stated in a social media post.

“If you collaborate with the opposition, you could be next. This is not democracy; it’s intimidation,” he added.

Banerjee further accused central agencies of selective usage and asserted that the arrest fosters “an atmosphere of fear, not fairness.”

I-PAC has been serving as the election strategy organization for the Trinamool Congress since 2020.