NEW DELHI: A day after the arrest of I-PAC promoter-director Vinesh Chandel in Delhi, ED on Wednesday attached assets worth Rs 160 crore, including corporate bonds and alternate investment funds, of Shyam Ferro Alloys controlled by Sanjay Agarwal of the Shyam group, in a move linked to investigations in West Bengal’s coal mining scam.With this, total attachments in the case have risen to over Rs 482 crore.“The offence involves multiple layers of complex financial transactions designed to conceal the origin and ownership of illicit funds,” ED said, adding it is continuing to unravel these layers to identify ultimate beneficiaries, trace additional proceeds of crime and zero in on all persons involved in money laundering.ED’s probe in the coal scam has, for now, shifted focus to I-PAC which, in its remand note for Chandel, allegedly received significant proceeds of crime from illegal coal mining in leasehold areas of Eastern Coalfields Ltd in West Bengal. The agency, however, has not named the political party involved.Enforcement Directorate said that during April 2 searches at I-PAC premises, it seized incriminating documents related to sham transactions and election expenditure. “The said documents were also found at the office of a political party and were corroborated by statements recorded by the investigating officer,” it said, pointing to an alleged nexus to use unaccounted funds for election expenses.Chandel, founding director of I-PAC since 2015, is an equal shareholder with Pratik Jain and Rishi Raj and a key decision-maker in operational and financial matters.“Substantial amounts were credited to I-PAC accounts from various entities without any genuine business purpose, establishing that the company acted as a conduit,” the agency said.The enforcement agency added that unaccounted cash was routed through hawala channels, with statements of persons linked to I-PAC recorded. During questioning, Chandel allegedly gave “false and misleading statements,” denying cash transactions and misrepresenting the company’s activities.