The Enforcement Directorate (ED) has frozen ₹440.42 crore held in bank accounts of the All India Trinamool Congress (AITC) as part of an alleged money laundering investigation linked to the purchase and leasing of chartered aircraft and a helicopter. The agency said the action was taken while probing suspected financial irregularities involving aviation-related transactions.
The ED conducted searches at five locations in and around Kolkata, targeting Carewell Aviation India Pvt. Ltd., its directors, and an electoral trust. According to the agency, the frozen funds were held in three HDFC Bank accounts.
The ED alleged that its investigation found that approximately ₹160 crore was transferred from the party’s bank accounts to Carewell Aviation India Pvt. Ltd. and a related entity between April 2023 and June 2026.
According to the agency, Carewell Aviation subsequently transferred ₹82.96 crore to a newly incorporated affiliated company between 2023 and 2026. The funds were allegedly used to acquire an Embraer Legacy 600 aircraft and an Agusta 109 Grand helicopter, with the total acquisition cost amounting to ₹112 crore.
The ED further claimed that an unsecured loan of USD 1.7 million was arranged in 2023 from a Cayman Islands-based entity to finance the purchase of the helicopter.
The investigation also found that after the aircraft and helicopter were acquired, they were leased to the AITC despite allegedly being purchased using funds originating from the party’s corpus. According to the ED, substantial payments were subsequently made under the pretext of aircraft usage. The agency said it is examining the actual purpose of these financial transactions and identifying the ultimate beneficial beneficiaries.
According to agency sources, the probe was initiated following a police complaint alleging that chartered flights used by a senior TMC leader and the party’s national general secretary were financed through improperly collected funds.
At the time of publication, the Trinamool Congress had not issued any official public response regarding the ED searches or the freezing of its bank accounts.
The action comes amid an ongoing internal dispute within the party over financial control. A separate case concerning control over the party’s finances and bank accounts is currently pending before the Calcutta High Court, which recently declined a request for an expedited hearing.
The ED said the investigation into the alleged money laundering, the source of funds, the legality of the transactions, and the identification of the ultimate beneficiaries is continuing. The agency’s allegations remain under investigation, and the final outcome will depend on the completion of the judicial process.
