In a major revelation, it has emerged that the Indian Political Action Committee (I-PAC) received an “unsecured loan” of Rs 13.50 crore in 2021 from a non-existent Rohtak-based firm. An Indian Express report says that the Rohtak-based firm, ‘Ramasetu Infrastructure India (P) Limited’ does not exist in official records.
There was a firm, ‘Ramsetu Infrastructure India Private Limited’, with a similar name and at the same address; however, its name had been removed from the records of the Registrar of Companies (ROC) in August 2018. This firm was incorporated in 2013. This means that this firm had its name struck off from the official records three years before the declared loan was taken.
On 27th June 2025, the I-PAC claimed that it had ‘repaid’ Rs 1 crore of the Rs 13.50 crore loan in 2024-25 and there was an outstanding amount of Rs 12.50 crore, the Indian Express reported.
On 8th January, 2026, ED teams searched ten locations, six in West Bengal and four in Delhi. These included places linked to Majee’s associates, hawala operators, buyers from the Shakambhari Group, and I-PAC. The ED found links between the I-PAC and the Coal Mining Scam. The matter attracted national attention after West Bengal Chief Minister arrived at the I-PAC office during the ED raids, and removed key files from the location. The I-PAC handles TMC’s election strategy. The ED later moved the Calcutta High Court seeking a CBI probe. Questions were raised as to why the TMC, particularly Chief Minister Mamata Banerjee, is so rattled over the anti-graft agency investigating a private political consultancy firm.
