ED Freezes TMC's Rs 440 Crore Amid Financial Misconduct Probe

The Enforcement Directorate has frozen Rs 440.42 crore from three HDFC accounts belonging to the Trinamool Congress, amid allegations of dishonest financial dealings. The probe revealed funds transferred to Carewell Aviation for aircraft purchases. The ED is investigating these transactions under the PMLA, 2002.

The Enforcement Directorate (ED) has taken action by freezing Rs 440.42 crore found in three HDFC bank accounts tied to the All India Trinamool Congress (AITC) as part of its probe into alleged financial malpractices. This move, announced on Wednesday, follows search operations conducted by the agency's Kolkata zonal office under the PMLA, 2002, targeting five locations connected to the Carewell group of companies in the aviation sector.

"During searches, balances amounting to Rs 440.42 crore lying in 3 HDFC bank accounts of AITC have been frozen under section 17 (1-A) of PMLA, 2002," the ED stated. The investigation, launched following an FIR by the Cyber Police in Bidhannagar, West Bengal, centers around accusations of dishonest financial dealings, unlawful money collection, and the routing of questionable funds via TMC's bank accounts.

The ED disclosed that approximately Rs 160 crore was transferred from TMC's bank accounts to Carewell Aviation India Pvt Ltd and its related entity between April 2023 and June 2026. Carewell Aviation further routed Rs 82.96 crore to a newly established entity for purchasing an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter. The federal agency highlighted that USD 1.7 million was sourced as an unsecured loan from a Cayman Islands-based entity. The Embraer aircraft and Agusta helicopter were subsequently rented back to TMC, bought from the party's funds, raising concerns over substantial transfers labeled under aircraft usage. The ED continues to investigate to unravel the actual intent behind these transactions.