The Enforcement Directorate (ED) has conducted searches at five locations in Kolkata and nearby areas as part of a money laundering probe into an alleged ₹150 crore fund-routing linked to Trinamool Congress (TMC) bank accounts.

The Enforcement Directorate (ED) on Tuesday carried out searches at five locations across Kolkata and adjoining areas in West Bengal to probe a suspected ₹150 crore fund-routing through Trinamool Congress (TMC) bank accounts. According to officials, the ongoing money laundering probe involves suspicious financial transactions allegedly funnelled through aviation and travel companies into bank accounts linked to the TMC.

ED officials stated that the 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 aircraft to the top brass of the TMC during Mamata Banerjee’s regime. Rebel TMC leaders have questioned the large-scale use of chartered flights.

ED examines fund trail and financial records

The anti-money laundering agency suspects the funds may have been diverted through complex financial arrangements. It’s scrutinising banking records and corporate documents to ascertain whether any provisions of the Prevention of Money Laundering Act have been violated.

The Kolkata Police last month suspended banking operations on three TMC accounts, acting on complaints filed by rebel party MLAs who demanded a probe into the source of the political funds. Nearly ₹440 crore is suspected to be parked in three TMC accounts.

High Court hearing and electoral trust under scanner

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

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

Published on July 7, 2026