The Enforcement Directorate (ED) has intensified its money laundering investigation into the Trinamool Congress (TMC) over alleged financial transactions involving luxury aircraft. The agency claimed that nearly ₹160 crore moved from the party’s bank accounts to Kolkata-based Carewell Aviation India Pvt. Ltd. between April 2023 and June 2026. Investigators alleged that the company used part of the transferred funds to purchase an Embraer Legacy 600 business jet and an Agusta 109 SP helicopter worth around ₹112 crore. The ED also froze three TMC bank accounts holding deposits of about ₹440 crore as part of the ongoing investigation.
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ED Investigates Alleged Aircraft Purchase and Financial Transactions
According to the ED, Carewell Aviation later leased the same aircraft back to the Trinamool Congress after purchasing them with funds allegedly transferred by the party. Investigators are examining whether the arrangement served a legitimate business purpose or concealed the true nature of the financial transactions. The agency has collected banking records, agreements, and payment documents to trace the movement of funds. Officials continue reviewing evidence to determine whether any financial irregularities occurred during the transactions.
The investigation also includes an overseas financial transaction linked to the helicopter purchase. The ED claimed that Carewell Aviation secured an unsecured loan of approximately 1.7 million US dollars from a Cayman Islands-based entity in 2023. Investigators are examining the source of the funding and its role in the purchase of the helicopter. The agency believes the foreign transaction requires detailed scrutiny and continues analysing financial records and supporting documents.
TMC Rejects Allegations, Calls Probe Politically Motivated
The present case originated from ED raids on Carewell Aviation India Pvt. Ltd., a Kolkata-based aviation management and leasing company. The investigation is based on an FIR registered by Bidhanagar Police following a complaint filed by rebel TMC MLA Biswanath Das. Officials are examining financial records, company documents, and transaction trails to establish whether any violations of money laundering laws took place. The agency has not announced any final findings in the case.
The Trinamool Congress has denied all allegations and described the ED’s action as politically motivated. The party stated that it disclosed all donations and financial transactions to the Election Commission and the Income Tax Department as required by law. TMC also said electoral bond details are already available with government authorities through official records. The ED’s investigation remains ongoing, and no court has reached a final conclusion regarding the allegations.
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