New Delhi, April 14 -- Senior Advocate Vikas Pahwa, appearing for I-PAC director Vinesh Chandel, strongly opposed the Enforcement Directorate's (ED) action, arguing that the registration of a fresh ECIR is legally untenable and lacks any substantive basis.

He submitted that even if the allegations are accepted in entirety, they pertain only to receipt of certain payments in cash and cheque, alleged GST irregularities, and loans from entities that are not NBFCs issues that may at best invite scrutiny under taxation or regulatory laws, but do not constitute a scheduled offence under the Prevention of Money Laundering Act (PMLA).

Pahwa further argued that the FIR invoking Sections 420, 120B and 477A of the IPC is unsustainable, as there is...