The Patiala House Court, Delhi today remanded Vinesh Chandel, director of political consultancy firm Indian Political Action Committee (IPAC), to 10 days of Enforcement Directorate (ED) custody in a money laundering case.
Additional Sessions Judge Shefali Barnala Tandon passed the order after a late-night hearing that continued past midnight. Chandel had been arrested by the ED a day earlier and was produced before the court following his arrest.
The ED informed the Court that Chandel is a founder and holds a 33% stake in PAC Consulting Private Limited, which is under investigation under the Prevention of Money Laundering Act (PMLA). The case originates from an FIR registered by the Delhi Police.
According to the agency, the probe has revealed multiple alleged financial irregularities, including receipt of both accounted and unaccounted funds, unsecured loans without legitimate business backing, issuance of bogus invoices, and routing of funds through third parties. The ED has also alleged the use of domestic and international hawala channels to move funds.
The agency stated that proceeds of crime to the tune of approximately ₹50 crore have been detected so far. The investigation had earlier led to searches at I-PAC’s office in Kolkata, which had triggered a political confrontation involving West Bengal Chief Minister Mamata Banerjee.
The matter remains under investigation.