NEW DELHI: The Enforcement Directorate has arrested Vinesh Chandel, Director of Indian PAC Consulting Private Limited (I-PAC), in a money laundering case, officials said.
The agency said the probe, initiated on the basis of an FIR registered by the Delhi Police, uncovered multiple instances of financial irregularities and various modes of money laundering by I-PAC.
According to the ED, the findings include receipt of accounted and unaccounted funds, unsecured loans without business credentials, issuance of bogus bills and invoices, and receipt of funds from third parties. It also alleged movement of cash through hawala channels, including international hawala.
The agency further stated that I-PAC was involved in laundering proceeds of crime amounting to several crores.
Following his arrest, Chandel was produced before the Patiala House Courts, which granted the ED 10 days of custody. Further investigation is underway. (Agencies)
