The Enforcement Directorate (ED) has taken the significant step of freezing three HDFC Bank accounts belonging to the All India Trinamool Congress (AITC), which hold Rs 440.42 crore. This action is part of an ongoing investigation into alleged money laundering linked to the Carewell Group. The freezing of these accounts is reportedly tied to investigations regarding financial misconduct by political entities.

In response, the Trinamool Congress has accused the enforcement agency of executing a politically charged agenda. They labelled the freezing of the accounts as an unlawful and arbitrary misuse of central investigative authorities aimed at neutralising political adversaries. The party is currently contesting these allegations and seeks to highlight their purported compliance with financial regulations.

The enforcement action follows extensive searches conducted by the Kolkata Zonal Office of the ED at five locations in the Kolkata area. These searches were initiated under the Prevention of Money Laundering Act (PMLA) of 2002, investigating potential illicit financial transactions and the alleged misappropriation of funds.

Investigation Into Financial Transactions

The ED has announced that its investigation aims to uncover suspicious financial activities involving the Trinamool Congress. Reports indicate that approximately Rs 160 crore was allegedly transferred from the AITC’s accounts to Carewell Aviation India Pvt Ltd and associated entities between April 2023 and June 2026. This transfer has raised questions about the legitimacy of the transactions in relation to the party’s financial practices.

In addition to the flow of funds, the ED alleges that Carewell Aviation subsequently channelled Rs 82.96 crore into another new entity meant for acquiring significant assets, including an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter. Allegations also extend to the claim that roughly Rs 112 crore was used for these high-value acquisitions.

Moreover, the agency contends that an unsecured loan amounting to $1.7 million was sourced in 2023 from an entity based in the Cayman Islands to facilitate the purchase of the helicopter. The ED maintains that both the aircraft and helicopter remain linked to the Trinamool Congress, as substantial payments have been made by the party for their usage, which the agency describes as questionable.

Response From Trinamool Congress

The Trinamool Congress has categorically denied the allegations made by the ED and insists that all funds managed by the party have been transparently reported. They state that all transactions, particularly those related to donations, have been duly filed with the Election Commission of India (ECI) and the Income Tax Department.

The party has also highlighted that their disclosures regarding electoral bonds are publicly accessible, asserting compliance with legal requirements. They have called the freezing of their accounts as arbitrary and politically motivated, aiming to undermine their position in the political landscape.

In their statements, the Trinamool Congress accuses the BJP-led central government of exploiting investigative agencies to pursue political vendettas. They allege that such actions represent a systematic undermining of democratic institutions and violate the principle of fairness in the political arena. As the investigation continues, the ED has not yet addressed the TMC’s claims of political bias.

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