New Delhi: The Trinamool Congress (TMC) has strongly criticised the Enforcement Directorate (ED) after the agency froze three of the party’s bank accounts holding deposits worth ₹440.42 crore under the Prevention of Money Laundering Act (PMLA). The action follows an ongoing investigation into an alleged financial misappropriation case.
In a statement, the Mamata Banerjee led party described the ED’s move as a “politically motivated act” and accused the Centre of using investigative agencies to target political opponents. The party maintained that all funds in its accounts had been fully disclosed and were received through legitimate channels.
TMC stated that details of all donations had been regularly submitted to both the Election Commission of India and the Income Tax Department. It also said information related to electoral bonds was already available with the government, as the bonds were issued through the State Bank of India and later placed before the Supreme Court.
Calling the action arbitrary and illegal, the party alleged that the use of central agencies against opposition parties undermines democratic institutions and the principle of a level playing field in politics.
The Enforcement Directorate said the accounts were frozen under Section 17(1A) of the PMLA, which empowers authorised officers to freeze assets when it is not practical to seize them and there is a need to prevent their transfer or disposal during an investigation. The agency said the order is subject to confirmation by the adjudicating authority under the Act within the prescribed timeframe.
According to the ED, the three frozen accounts are maintained with HDFC Bank and together contain deposits amounting to ₹440.42 crore.
The development comes after the ED conducted searches at five locations in Kolkata, including premises linked to private charter operator Carewell Aviation India Pvt. Ltd. The agency said the action was based on an FIR registered by the Bidhannagar Cyber Police alleging dishonest financial transactions, unlawful collection of funds and the routing of suspected money through certain TMC linked bank accounts.
The investigation is continuing, with the ED examining the financial transactions and evidence gathered during the searches.
