New Delhi [India], April 14 : The Enforcement Directorate (ED) has arrested Indian PAC Consulting Pvt Ltd (IPAC) Director Vinesh Chandel under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the alleged coal pilferage case, a press release said.
Vinesh Chandel is the founder, director and 33 per cent shareholder of IPAC, and was arrested on Monday, after ED initiated an investigation on the basis of an FIR registered by Delhi Police.
After his arrest, Chandel was produced before the court and Additional Sessions Judge, Patiala House Courts, Shefali Barnala Tandon,who granted 10 days ED custody.
According to the ED, the investigation conducted so far has revealed multiple instances of financial irregularities and various modes of money laundering by the IPAC, including receipt of accounted and unaccounted funds, receipt of unsecured loans without any business credentials, issuance of bogus bills and invoices, receipt of funds from third parties, and movement of cash through hawala channels, including international hawala.
Investigation has further revealed that IPAC was involved in laundering proceeds of crime to about Rs 50 crore.
During the investigation, statements of various persons connected with the transactions were recorded. Searches were also conducted, and incriminating material was gathered. The role of Vinesh Chandel has emerged in the offence under investigation. Under the relevant provisions of law, directors of a company are liable where the offence has been committed with their consent, connivance or attributable neglect, the press release stated.
Further investigation is in progress.
Earlier in January 2026, carrying out searches at 15 locations across the country, including the IPAC office in Kolkata, as part of its probe into a fake government job scam in West Bengal, allegedly involving an organised network that duped candidates by offering fraudulent appointments.
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