I-PAC director gets bail post-Bengal elections as ED doesn't object
What's the story
The Patiala House Court in Delhi has granted bail to Vinesh Chandel, the director of political consultancy firm Indian Political Action Committee (I-PAC), a day after West Bengal concluded its assembly elections. The court's decision came after the Enforcement Directorate (ED) did not oppose Chandel's bail plea, stating he had cooperated with their investigation. "In view of the voluntary and purposeful cooperation..ED is not opposing the present bail application," the agency told the court.
Investigation details
ED's findings on I-PAC
The ED arrested him on April 13 in connection with a money laundering case linked to an alleged coal scam in West Bengal. The ED said its probe into I-PAC has revealed several financial irregularities. These include the receipt of accounted and unaccounted funds, unsecured loans without legitimate business backing, issuance of fake invoices, and routing of money through third parties. The agency also alleged that domestic and international hawala channels were used to move cash.
Scam probe
Investigation extends to coal scam financial transactions
"Investigation has further revealed that Indian PAC Consulting Pvt Ltd was involved in laundering proceeds of crime to the tune of multiple crores. The amount detected so far is about ₹50 Crore," the agency claimed. While granting bail, the court imposed certain conditions on Chandel. He was directed not to tamper with evidence or influence witnesses. Further, he was required to cooperate with the probe and remain accessible for further questioning if needed.