ED Freezes ₹440 Crore in Trinamool Congress Bank Accounts in Money Laundering Probe
Moneylife Digital Team 08 July 2026
The directorate of enforcement (ED) has frozen ₹440.42 crore lying in three accounts in HDFC Bank belonging to the All India Trinamool Congress (AITC) during searches conducted in Kolkata as part of a money laundering investigation into alleged suspicious financial transactions involving an aviation company and the purchase of an aircraft and a helicopter.
 
The action followed searches conducted by the ED's Kolkata zonal office at five premises in and around Kolkata linked to the Carewell group of companies which operates in the aviation sector.
 
According to the agency (https://enforcementdirectorate.gov.in/media/press-release-documents/683147c0-5760-4634-88dd-5d6762a5d381_Press%20Release-%20AITC%20Carewell%20search%20date%20080726.pdf), the searches were carried out under the PMLA in connection with a money laundering investigation based on a first information report (FIR) registered by the cyber police at Bidhannagar in West Bengal.
 
The FIR pertains to allegations of dishonest financial dealings, unlawful collection of money and routing of suspected funds through certain bank accounts of the Trinamool Congress.
 
ED said its investigation has so far revealed that about ₹160 crore was transferred from AITC bank accounts to Carewell Aviation India Pvt Ltd and a related entity, largely during the period between April 2023 and June 2026.
 
According to the agency, further investigation found that Carewell Aviation subsequently transferred ₹82.96 crore during 2023-2026 to another newly-incorporated related entity for the acquisition of an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter.
 
ED alleged that about ₹112 crore was utilised for purchasing the aircraft and the helicopter.
 
The investigation has also found that US$1.7mn (million) was arranged in 2023 as an unsecured loan from an entity based in the Cayman Islands to facilitate the purchase of the helicopter.
 
According to ED, the Embraer Legacy 600 aircraft and the Agusta helicopter were later leased to the Trinamool Congress, despite the agency's allegation that the assets had been acquired using funds originating from the party's corpus.
 
The agency further alleged that substantial payments were subsequently made in the name of aircraft usage.
 
ED said it is examining what it described as a 'dubious arrangement' to ascertain the actual beneficial purpose of the financial transactions and determine whether the movement of funds constituted proceeds of crime under the PMLA.
 
The agency said further investigation is in progress.
 
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