Calcutta High Court Allows TMC Access to Frozen Accounts for Expenses

On 9 July 2026, the Calcutta High Court sanctioned the All India Trinamool Congress (AITC), led by Chief Minister Mamata Banerjee, to temporarily utilise three of its frozen bank accounts for operational expenses. This decision was made under the oversight of a Special Officer, as the court could not find sufficient justification for the freezing of the accounts shortly after a money laundering complaint.

The Enforcement Directorate (ED) had previously frozen these bank accounts, which held approximately Rs 440 crore, as part of an investigation into allegations of money laundering connected to the funding of the Trinamool Congress.

The ED's inquiry centres on allegations that the party funded the acquisition of a luxury jet and a helicopter, only to subsequently rent them back. According to reports, the agency asserted that funds amounting to Rs 160 crore were transferred from the AITC's accounts to Carewell Aviation India Pvt Ltd between April 2023 and June 2026. This aviation firm was reportedly established in September 2021, coinciding with the Trinamool's third consecutive term in office.

The investigation suggests that Carewell used these funds to acquire an Embraer Legacy 600 business jet and an Agusta 109 SP helicopter, valued at around Rs 112 crore. Additionally, a significant sum was secured from a company based in the Cayman Islands for the helicopter's purchase. The ED indicated that around 1.7 million US dollars were arranged as an unsecured loan from another Cayman Islands entity for the same acquisition.

The agency is examining the transactions closely, anticipating that the financial movements were constructed to obscure the actual purpose behind them, raising suspicions of possible misappropriation of party funds. The investigation stems from an FIR registered by the Bidhanagar Police, following a complaint from a dissident AITC MLA, Biswanath Das, who has aligned with a rival faction within the party.

In response to the allegations, the All India Trinamool Congress has characterised the freezing of its bank accounts and the ensuing investigation as politically motivated, labelling it as a tactic employed by the BJP to suppress dissent. The party maintains that all financial transactions have been reported accurately to the Election Commission and the Income Tax Department, and has provided transparency regarding its electoral bonds.

As the situation unfolds, the ED continues to delve deeper into the financial operations surrounding the Trinamool Congress and the various transactions linked to its leadership. The legal and political ramifications of this ongoing investigation remain to be seen, as the party strives to refute the claims against it and regain access to its resources.