A Delhi court on Thursday granted regular bail to Vinesh Chandel, director of Indian Political Action Committee (I-PAC), who had been arrested by the Enforcement Directorate on April 13 in a suspected money laundering case.
Additional Sessions Judge Amit Bansal of the Patiala House Court issued the order, observing that the Enforcement Directorate did not oppose Chandel’s bail.
"The learned Senior counsel for the applicant has referred to PMLA Section 45 and has submitted that in the present case, the learned Special Public Prosecutor has been given the opportunity to oppose the bail, but he has not done so, and hence the twin conditions won't be applicable in this case," the Court said.
The ED said that Chandel, one of the founders and a 33 per cent shareholder of PAC Consulting Private Limited, is being investigated for a money-laundering case under PMLA.
The case arises from an FIR filed by the Delhi Police.
Earlier, the ED carried out a raid at the office of I-PAC in Kolkata’s Salt Lake which led to a confrontation with West Bengal Chief Minister Mamata Banerjee.
According to ED, the probe revealed several alleged financial irregularities linked to the company. These include the receipt of both declared and undeclared funds, unsecured loans without genuine business justification, the use of fake invoices, and the diversion of money through third parties.
The ED further alleged the use of domestic and international hawala channels to move cash.
"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 Rs 50 Crore," the agency said.
Chandel, on 23rd April, had moved the Delhi High Court seeking bail.
The ED had arrested Chandel on 13th April in connection with the money-laundering case.
