ED freezes TMC-linked Bank Deposits Worth ₹440 Crore In Kolkata Amid Money Laundering Probe
The Enforcement Directorate has frozen Rs 440.42 crore in three AITC bank accounts after conducting searches at premises linked to the Carewell group in Kolkata. The agency alleges around Rs 160 crore was transferred to aviation firms used to acquire an aircraft and helicopter later leased to AITC. The investigation under the PMLA is ongoing.
ED freezes TMC-linked Bank Deposits Worth ₹440 Crore In Kolkata Amid Money Laundering Probe | Representative image
The Directorate of Enforcement (ED) on Wednesday said it had frozen bank balances worth Rs 440.42 crore in three HDFC Bank accounts of the All India Trinamool Congress (AITC) after conducting search operations at five premises linked to the Carewell group of companies operating in the aviation sector in and around Kolkata.
According to the agency, the searches were carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as part of an investigation stemming from an FIR registered by the Cyber Police in Bidhannagar, West Bengal. The case pertains to alleged dishonest financial dealings, unlawful collection of funds and the routing of suspected money through certain AITC bank accounts.
ED outlines financial trail
The ED claimed that its investigation has so far revealed that approximately Rs 160 crore was transferred from AITC bank accounts to Carewell Aviation India Pvt. Ltd. and its related entities between April 2023 and June 2026.
The agency further alleged that Carewell Aviation routed Rs 82.96 crore to another newly incorporated related company for the purchase of an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter. According to the ED, around Rs 112 crore was utilised for acquiring the two aircraft, while an unsecured loan of USD 1.7 million was arranged in 2023 from a Cayman Islands-based entity to facilitate the helicopter purchase.
The ED alleged that after the acquisitions, the Embraer aircraft and Agusta helicopter were leased back to AITC despite being purchased using funds allegedly originating from the party's corpus. It further claimed that substantial payments were subsequently made in the name of aircraft usage.
Investigation continues
Describing the arrangement as "dubious", the agency said it is investigating the actual beneficial purpose of the transactions and whether any proceeds of crime were involved.
The ED said further investigation into the case is underway. There was no immediate response from the All India Trinamool Congress to the allegations at the time of publication.
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