ED Summons Relatives of I-PAC Bengal Chief Amid Money Laundering Investigation
ED summons I-PAC Bengal chief's relatives to appear before it
economictimes_indiatimesImage: economictimes_indiatimes
The Enforcement Directorate (ED) has summoned Pulkit Jain and Barbie Jain, relatives of I-PAC Bengal chief Pratik Jain, to appear in New Delhi as part of a money laundering investigation. This follows the arrest of Vinesh Chandel, co-founder of Indian PAC Consulting Pvt. Ltd, under the Prevention of Money Laundering Act (PMLA), 2002.
- 01ED summons relatives of I-PAC Bengal chief in money laundering case.
- 02Vinesh Chandel, co-founder of I-PAC, was arrested under PMLA.
- 03Investigation reveals financial irregularities involving Indian PAC Consulting Pvt. Ltd.
- 04Detected money laundering proceeds amount to approximately ₹50 crore.
- 05Trinamool Congress leaders express concerns over the timing of the arrests.
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The Enforcement Directorate (ED) has summoned Pulkit Jain and Barbie Jain, relatives of Pratik Jain (I-PAC Bengal chief), to appear in New Delhi as part of an ongoing investigation into alleged money laundering activities involving Indian PAC Consulting Pvt. Ltd. This development follows the arrest of Vinesh Chandel, the company's co-founder, under the Prevention of Money Laundering Act (PMLA), 2002. Chandel, who holds a 33% stake in I-PAC, was remanded to ten days of ED custody after his arrest on Monday night. The ED's investigation, initiated based on an FIR from the Delhi police, has uncovered multiple financial irregularities, including the movement of cash through hawala channels and the issuance of bogus invoices. So far, the ED has detected proceeds of crime amounting to around ₹50 crore. Trinamool Congress leaders have criticized the timing of these actions, suggesting they undermine the integrity of the electoral process in West Bengal, especially with elections approaching.
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The investigation and arrests could affect the political landscape in West Bengal, particularly as elections approach, raising concerns about fair electoral practices.
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