The Enforcement Directorate (ED) has escalated its investigation into alleged financial irregularities linked to political consultancy firm I-PAC by summoning its founder and director Rishi Raj, for questioning. The move comes at a politically sensitive time, just days before West Bengal heads into a crucial two-phase election on April 23 and April 29.
The case, involving alleged money laundering and suspicious financial transactions worth crores, has triggered a fresh political debate and intensified scrutiny on consultancy firms working in electoral politics.
Who is Rishi Raj?
Rishi Raj is a co-founder and director of the political consultancy firm Indian PAC Consulting Pvt. Ltd. (I-PAC). He is associated with strategic campaign planning, data-driven political consulting, and election management services for various political parties in India.
He has been involved in building one of India’s most prominent political consulting networks, which has worked across multiple state and national-level election campaigns. Along with other founders, he played a key role in expanding I-PAC’s operations into a large-scale electoral strategy organisation.
ED Summons Rishi Raj Ahead of West Bengal Polls
Officials confirmed that Rishi Raj has been called for questioning on Monday as part of an ongoing money laundering investigation. The ED has widened its probe into Indian PAC Consulting Pvt. Ltd., which is already under scrutiny for alleged financial misconduct.
Earlier, the agency arrested another founder-director, Vinesh Chandel, marking a significant development in the case. The timing of the summons has added political sensitivity, given the proximity to the West Bengal elections.
What is the Money Laundering Probe?
The investigation began following an FIR registered by the Delhi Police, which led the ED to examine the financial operations of I-PAC and its associated entities. The agency claims it has uncovered a complex network of suspicious transactions.
“The ED initiated the investigation based on an FIR registered by the Delhi Police. The investigation so far has revealed multiple instances of financial irregularities and various modes of money laundering by Indian PAC Consulting Pvt. Ltd., including receipt of accounted and unaccounted funds, unsecured loans without business credentials, issuance of bogus bills and invoices, receipt of funds from third parties, and movement of cash through hawala channels, including international hawala,” the ED said.
I-PAC Money Laundering Case: ED Findings & Alleged Rs 50 Crore Irregularities
According to investigators, the scale of alleged laundering is significant, with estimates of irregular transactions reaching around Rs 50 crore. The agency has alleged the use of shell transactions, bogus billing, and cash routing through informal channels.
“Vinesh Chandel, Director of Indian PAC Consulting Pvt. Ltd., was arrested on April 13 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with an ongoing investigation. Vinesh Chandel is a founder, director, and 33% shareholder of Indian PAC Consulting Pvt. Ltd.,” the ED said after his arrest.
Officials further stated, “Vinesh Chandel’s role 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,” officials said.
Political Heat Ahead of West Bengal Elections
The timing of the investigation has intensified political debate in West Bengal, where campaigning is already in full swing. Opposition parties have questioned the neutrality of investigative agencies, while others argue that the probe highlights serious financial accountability concerns in political consultancy operations.
Earlier ED Raids and Controversy in Kolkata
The case has previously seen high-voltage political drama during ED raids in Kolkata and other locations. A raid at Rishi Raj’s residence reportedly triggered a political confrontation, with West Bengal Chief Minister Mamata Banerjee accusing the agency of data misuse. The ED, however, denied the allegations and stated that its investigation was obstructed during the search operation.
I-PAC Response & Defence
I-PAC has maintained that it is cooperating fully with authorities and has rejected allegations of wrongdoing.
“Officials from the Enforcement Directorate carried out searches at the I-PAC office and at the residence of our director, Pratik Jain, in Kolkata. It was a difficult and unfortunate day for a professional organisation like I-PAC. We believe this raises serious concerns and sets an unsettling precedent. Regardless, we have extended full cooperation and will continue to do so, engaging with the process in full accordance with the law,” I-PAC said in a statement on January 9.
“We have always upheld the highest standards of professional integrity in all that we do. Despite what transpired, we remain fully committed to continuing our work unfazed and unperturbed, with consistency and accountability guided by the same purpose that has shaped us from the start,” I-PAC said.
I-PAC Money Laundering Case: What’s Next?
With Rishi Raj’s questioning scheduled and further ED scrutiny expected, the investigation is likely to deepen in the coming days. Authorities may examine additional financial records and cross-border transactions as part of the probe.
The outcome could have both legal and political implications, especially in the run-up to the West Bengal elections.
