ED freezes Rs 440 cr in TMC bank accounts in major money-laundering probe
The agency uncovers alleged diversion of Rs 160 crore for luxury private jets and helicopters amid a bitter internal party split and fallout from Bengal election debacle
The Enforcement Directorate (ED) has ordered the freezing of Rs 440 crore in bank deposits held by the Trinamool Congress (TMC) under anti-money laundering law, officials said on Wednesday (July 8). The agency took the step following searches conducted as part of a fund misappropriation probe.
No immediate response was received from the party.
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The orders were issued under Section 17 (1-A) of the Prevention of Money Laundering Act (PMLA). The amount of Rs 440.42 crore is held in three private bank accounts of the All India TMC, the officials said.
Raids on five Kolkata premises
On Tuesday (July 7), raids were conducted on five premises in Kolkata, including those belonging to the Carewell Group of Companies, which also operates a private jet and charter hiring entity called Carewell Aviation.
The officials said the ED’s preliminary investigation found that about Rs 160 crore was transferred from the TMC’s bank accounts to Carewell Aviation India Pvt. Ltd. and its related entity between April 2023 and June this year.
The company is alleged to have further routed Rs 82.96 crore (between 2023 and 2026) to another newly incorporated entity. It was found that a “significant” amount was transferred to this entity.
Out of this, Rs 112 crore was used for purchasing an Embraer Legacy 600 business jet and an AgustaWestland 109SP helicopter, the officials said.
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These two flying assets were “rented” to the TMC, which was recently ousted from power in West Bengal by the Bharatiya Janata Party. A massive implosion took place in the party post the debacle, with several dissenters deciding to form their own units, both in Kolkata and New Delhi.
The party’s finances also came under the scanner following the split.
Cops recently froze debit operations
Last month, Kolkata Police froze debit operations on these three bank accounts based on complaints from the party’s rebel MLAs seeking a probe into the source of the funds, amid a bitter internal battle over who constitutes the “real” TMC.
On July 2, the Calcutta High Court, while hearing a petition filed by the faction of the TMC led by its founder and former chief minister Mamata Banerjee challenging the debit freeze of the party's bank accounts, directed the private bank authorities to disclose the corpus held in those accounts.
(With agency inputs)