TMC slams ED after Rs 440.42 crore in party accounts frozen
The All India Trinamool Congress has strongly criticised the Enforcement Directorate after the agency froze Rs 440.42 crore lying in three HDFC Bank accounts of the party, triggering a fresh political confrontation in West Bengal. The TMC described the action as politically motivated and alleged that investigative agencies were being used to target opposition parties. The party maintained that the money held in its accounts had been fully disclosed and that donation-related transactions were reported to the Election Commission of India and the Income Tax Department. It also said relevant disclosures were available in the public domain.
The ED, however, said the freezing action was part of an investigation under the Prevention of Money Laundering Act. According to the agency’s official statement dated July 8, its Kolkata Zonal Office conducted searches at five premises in and around Kolkata linked to the Carewell group of companies, which operates in the aviation sector. During the searches, balances totaling Rs 440.42 crore in three AITC bank accounts were frozen under Section 17(1-A) of the PMLA.
TMC says party funds were transparently disclosed
In its response, the Trinamool Congress rejected any suggestion that the funds in question were concealed or undisclosed. The party said all donations and account-related disclosures had been submitted to the appropriate authorities. The TMC also referred to electoral bonds, arguing that related information was already available with the government because the bonds had been issued through the State Bank of India and the relevant records were later submitted before the Supreme Court.
Calling the ED’s move arbitrary and illegal, the party accused the BJP of misusing central agencies to weaken political opponents. The TMC said such action undermined democratic institutions and damaged the principle of a level political playing field. These are the party’s allegations; the ED has presented its action as part of an ongoing money-laundering investigation. The development is expected to intensify the already sharp political confrontation between the ruling TMC in West Bengal and the BJP-led central government, particularly because the amount frozen is substantial and directly concerns the finances of a major political party.
ED details alleged Carewell Aviation money trail
The ED said its investigation originated from an FIR lodged by Cyber Police in Bidhannagar, West Bengal. The case concerns alleged dishonest financial dealings, unlawful collection of money and routing of suspected funds through certain bank accounts of the Trinamool Congress. According to the agency, around Rs 160 crore was transferred from AITC bank accounts to Carewell Aviation India Pvt Ltd and a related entity, mainly between April 2023 and June 2026.
The ED further alleged that Carewell Aviation routed Rs 82.96 crore between 2023 and 2026 to another related entity for the purchase of an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter. The agency said Rs 112 crore was used for those purchases and that a $1.7 million unsecured loan from a Cayman Islands-based entity was arranged in 2023 for the helicopter purchase.
The agency also claimed that the aircraft and helicopter were later rented back to the TMC even though, according to its investigation, they had been purchased from funds originating from the party corpus. The ED said substantial payments were subsequently made for aircraft usage and that the arrangement remains under investigation to determine the actual beneficial purpose of the transactions.
Political battle grows as investigation continues
The freezing of the party accounts has now developed into both a legal and political battle. While the ED says the action forms part of an investigation into suspected fund movements and aviation-related transactions, the TMC insists its finances are transparent and alleges political vendetta. The competing claims are likely to remain at the centre of political debate in West Bengal. The ED has said that further investigation is in progress, meaning the agency may continue examining the source, movement and end use of the funds mentioned in its probe.
For the TMC, the immediate challenge is not only legal but also political, as the party attempts to defend the legitimacy of its financial transactions while portraying the enforcement action as part of a broader campaign against opposition parties. For the ED, the focus remains on establishing the nature and purpose of the transactions involving the party accounts and aviation companies. Until the investigation and any subsequent court proceedings establish the facts, the ED’s financial allegations remain allegations under investigation, while the TMC continues to deny wrongdoing and challenge the action politically.
