The agency took over a case registered by the Kolkata Police which last month stopped banking operations in three accounts of the TMC, acting on complaints filed by rebel party MLAs.

A day after the raids, the Enforcement Directorate issued orders to freeze the All India Trinamool Congress’ (TMC’s) bank deposits worth ₹440 crore under the Prevention of Money Laundering Act (PMLA), suspecting gross misuse of the political funding to the West Bengal regional party.

The orders issued under Section 17 (1-A) of the PMLA were to freeze three private bank accounts together holding ₹440.42 crore, ED officials said.

On Tuesday, the agency sleuths carried out searches at five locations across Kolkata and its adjoining areas to probe a suspected ₹150 crore fund-routing through TMC bank accounts.

The officials have found suspicious financial transactions allegedly funneled through aviation and travel companies into bank accounts linked to the TMC.

ED officials stated that premises of Carewell Aviation Pvt Ltd -- a West Bengal registered company dealing in aircraft sales, private jet charters, and leasing, and its directors and a “purported electoral trust” were covered in the searches, the ED officials said. Carewell is said to have provided chartered aircrafts to the top brass of the TMC during Mamata Banerjee’s regime. Rebel TMC leaders have questioned large scale use of the chartered flights.

The agency took over a case registered by the Kolkata Police which last month stopped banking operations in three accounts of the TMC, acting on complaints filed by rebel party MLAs.

Political funds

They demanded a probe into the source of the political funds received by the TMC.

The ED’s raid against electoral trust operating out of Kolkata is meant to investigate unaccounted money structurally introduced as pseudo-legal political donations.

The Mamata Banerjee-led faction has filed a petition in Calcutta High Court challenging freezing of the party accounts. While hearing the petition on July 2, the Calcutta High Court directed the private bank concerned to disclose the amount deposited in those accounts.

Published on July 8, 2026