The Enforcement Directorate has frozen three bank accounts belonging to the All India Trinamool Congress, containing deposits worth Rs 440.42 crore, as part of an investigation into an alleged funds misappropriation case. The action was taken under the Prevention of Money Laundering Act following searches conducted at five premises in and around Kolkata, the central agency said on Wednesday.

According to the Enforcement Directorate, the searched premises were linked to the Carewell group of companies, which operates in the aviation sector. During the searches, the agency froze balances of Rs 440.42 crore held in three HDFC Bank accounts belonging to the Trinamool Congress. The action was taken under Section 17(1-A) of the Prevention of Money Laundering Act, an Enforcement Directorate spokesperson said.

Sources in the agency said the preliminary investigation found that the political party had allegedly invested money from its own corpus into a private aviation company. The funds were reportedly intended to help acquire a business jet and a helicopter. Investigators are examining the transactions and the financial links between the Trinamool Congress and the aviation entities involved in the case.

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The Enforcement Directorate’s investigation has reportedly found that around Rs 160 crore was transferred from Trinamool Congress bank accounts to Carewell Aviation India Private Limited and a related entity. Most of the transactions allegedly took place between April 2023 and June 2026. The agency is examining the purpose of the transfers and how the money was ultimately used by the companies.

The searches and freezing of the accounts form part of a wider investigation under the Prevention of Money Laundering Act into alleged misappropriation of funds. The Enforcement Directorate has not yet announced the final outcome of its investigation, and the allegations remain under examination. Further action will depend on evidence gathered during the probe and the agency’s assessment of the financial transactions.

The freezing of the three accounts marks a significant development in the investigation because of the large amount involved. The Trinamool Congress has not been quoted in the available report responding to the Enforcement Directorate’s allegations or the freezing of its accounts. Further details are expected as the investigation progresses and the agency continues to examine the alleged transfers involving the political party and the aviation companies.

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