TMC slams ED for freezing Rs 440 cr, calls it 'politically motivated'

The AITC condemned the ED's 'politically motivated' decision to freeze Rs 440.42 crore in its bank accounts, stating all funds are transparently disclosed. The ED's action is part of a PMLA probe into alleged dishonest financial dealings.

TMC Calls ED Action 'Politically Motivated'

The All India Trinamool Congress (AITC) has condemned the Enforcement Directorate's (ED) decision to freeze Rs 440.42 crore held in three of the party's HDFC Bank accounts, calling the move politically motivated and accusing the BJP of "misusing investigative agencies" to weaken the opposition.

In a statement posted on X, the party said the funds in question are fully disclosed, with donation transactions duly reported to the Election Commission of India (ECI) and the Income Tax Department. These disclosures, the party noted, are published annually on the ECI's website and are freely accessible to the public.

"All funds held in the party's bank accounts have been fully and transparently disclosed. The party has duly reported all donation transactions to the Election Commission of India (ECI) and the Income Tax Department. These disclosures are published annually on the ECI's website and are available in the public domain," the statement read.

On electoral bonds specifically, the TMC claimed that the details are "already available with the Government of India, as the bonds were issued by the State Bank of India (SBI) and subsequently submitted to the Supreme Court." https://x.com/AITCofficial/status/2074866357930504370?s=20

Calling the ED's action "arbitrary and illegal," the party further said, "The Enforcement Directorate's decision to freeze the party's bank accounts is a politically motivated act. We strongly condemn this arbitrary and illegal action. The misuse of investigative agencies to target political opponents has become a hallmark of the BJP's politics and represents a serious assault on democratic institutions and the principles of a level playing field."

ED Cites PMLA Probe, Alleges Fund Misuse

The party's assertion comes after the ED has frozen Rs 440.42 crore lying in three HDFC Bank accounts of AITC or TMC in connection with its probe in the matter of alleged dishonest financial dealings, unlawful collection of money, and routing of suspected funds through certain bank accounts of the party, the agency said on Wednesday.

ED's Kolkata zonal office freezed the amount following its search operations carried out earlier at five premises in and around Kolkata under the provisions of PMLA, 2002, belonging to Carewell group of companies operating in the aviation sector.

"During searches, balances amounting to Rs 440.42 crore lying in 3 HDFC bank accounts of AITC have been frozen under section 17 (1-A) of PMLA, 2002," said the ED in a statement.

ED said it launched the searches in connection with an investigation under PMLA, 2002, based on an FIR lodged by the Cyber Police, Bidhannagar, West Bengal in the matter of alleged dishonest financial dealings, unlawful collection of money, and routing of suspected funds through certain bank accounts of TMC.

Probe Links Funds to Aircraft Purchase

ED further said its investigation revealed that around Rs 160 crore was transferred from TMC bank accounts to Carewell Aviation India Pvt Ltd and its related entity, mostly between April 2023 and June 2026.

The agency further revealed that Carewell Aviation Pvt Ltd routed an amount of Rs 82.96 crore during 2023-2026 to another newly incorporated related entity for purchasing an Aircraft Embrarer Legacy 600, and one chopper, an Augusta 109 Grand New.

"An amount of Rs 112 crore was used for making the said purchases. It is also revealed that an amount of USD 1.7 million was arranged as an unsecured loan in the year 2023 from one Cayman Islands-based entity to purchase the said helicopter," mentioned the ED in its statement.

These Embraer Legacy 600 aircraft and Agusta helicopter, the federal agency further said, were subsequently rented out to TMC itself, even though they were purchased from the corpus of the party. Thereafter, it said, substantial amounts were "transferred on the pretext of aircraft usage."

ED also added that the "dubious arrangement" is under investigation to ascertain the actual beneficial purpose of the transactions.

(ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)