The Enforcement Directorate (ED) yesterday conducted searches at five locations in and around Kolkata as part of an ongoing investigation into alleged financial irregularities and routing of suspected funds linked to the Trinamool Congress (TMC). The move comes just weeks after three bank accounts were frozen by the Mamata Banerjee-led party after a rebel faction in the party filed a complaint.
The federal agency is also investigating allegations that more than ₹150 crore was routed through aviation and travel companies for suspicious transactions. The premises searched were those linked to Carewell Aviation, its directors and an entity described by investigators as an electoral trust.
Probe Focuses on Alleged Fund Routing.
As the ED’s initial investigation indicates, there is suspicion that large sums of money were transferred through aviation and travel-related businesses before being routed into accounts under investigation. The agency is still investigating the financial trail to determine how money was obtained, moved, and used,” said the agency.
The searches were conducted in order to get documentary and digital evidence that the alleged financial transactions have been made, officials said.
The investigation follows the freezing of three TMC-linked bank accounts last month. The accounts collectively carry around ₹440 crore, according to reports.
Bank accounts frozen after Rebel Faction's complaint
The controversy began when a rebel faction of Trinamool Congress filed a complaint against the financial misconduct. Based on the complaint an FIR was registered on June 18 and Bidhan Nagar Police Station ordered banks to put a debit freeze on the three accounts.
The move led the ruling party in West Bengal to approach the Calcutta High Court and challenge the freezing of its accounts.
Matter Before the Calcutta High Court
In a court session last week, the Calcutta High Court directed the banks concerned to give details of the funds held in the frozen accounts.
A senior advocate Abhishek Manu Singhvi, who appeared for the TMC, said freezing the party’s bank accounts also paralyzed it and denied it a level playing field.
The High Court also questioned if the decision to freeze the accounts had been taken in haste. It also pondered whether the accounts could be operated by jointly appointed special officers, including retired judges, until the matter is finally resolved.
The case will go to another hearing on July 8.
State Defends Investigation
At the court, Solicitor General Tushar Mehta said an investigation had already been carried out on the allegations.
"We have done an investigation. There was siphoning off money," Mehta said, defending the actions taken by the authorities.
The ED’s searches are the latest in a long line of developments in the case of alleged financial transactions. Documents, banking records and digital evidence collected in the raids are expected to be reviewed and examined for any possible violations of financial laws, investigators say.
The Trinamool Congress has always claimed that the bank accounts freeze is unfair and has taken the government to the High Court. The outcome of the court action and the ED’s investigation will have significant political and legal implications in the next weeks.
