ED freezes ₹440cr in 3 TMC bank accounts
What's the story
The Enforcement Directorate (ED) has frozen over ₹440 crore in bank accounts of the All India Trinamool Congress (AITC) under the Prevention of Money Laundering Act. The funds were blocked after the agency's Kolkata zonal office conducted searches at five Carewell Group locations in and around Kolkata. According to the agency, its investigation revealed that AITC funds were channeled via a Carewell group company, which used the money to purchase aircraft.
Investigation details
₹440.42cr in 3 HDFC Bank accounts
The ED's search comes after an FIR was filed by the Bidhannagar cyber police over alleged "dishonest financial dealings" and routing of suspected funds through AITC bank accounts. The agency froze ₹440.42 crore in three HDFC Bank accounts of the party during its probe. It found that around ₹160 crore was mostly transferred from AITC's accounts to Carewell Aviation India Pvt Ltd between April 2023 and June 2026.
Purchase investigation
Carewell routed ₹82.96 crore for purchasing aircraft
The ED claims that Carewell Aviation routed ₹82.96 crore around 2023-2026 to another newly incorporated related entity to purchase an Embraer Legacy 600 plane and an Agusta 109 GrandNew helicopter. The total cost of these purchases was ₹112 crore. An unsecured loan of $1.7 million was also arranged in 2023 from a Cayman Islands-based entity for the helicopter purchase, the agency said.
Rental investigation
Plane, helicopter rented out to TMC
The ED has alleged that the plane and helicopter were subsequently rented out to the AITC itself, even though they were bought from party funds. "Substantial amounts were transferred on the pretext of aircraft usage," it said in a statement. The agency is investigating this "dubious arrangement" to determine the actual beneficial purpose of these transactions.