New Delhi, April 14 -- Vinesh Chandel, Director of Indian PAC Consulting Pvt. Ltd., who was arrested late Monday night by the Enforcement Directorate (ED), in Rs50 Crore Money Laundering Case has been sent to 10 days of custodial remand by the federal anti-money laundering agency.
Chandel is the founder, director, and a 33% shareholder of the company.
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA) based on an FIR registered by the Delhi Police. The probe has so far revealed multiple instances of financial irregularities and various methods of money laundering by Indian PAC Consulting Pvt. Ltd. These include the receipt of both accounted and unaccounted funds, unsecured loans without valid business c...