The Kolkata High Court lifted police restraints on all Trinamool Congress (TMC) bank accounts, yet the Enforcement Directorate (ED) continues to freeze three accounts under PMLA Section 17, safeguarding roughly ₹440 crore. The split within TMC and the ongoing financial probe add further complexity to the political landscape.

Key Takeaways

  • Kolkata HC lifts police restraint on all TMC bank accounts
  • ED maintains freeze on three accounts under PMLA Section 17
  • Freeze involves approximately ₹440 crore, with allegations of ₹160 crore money laundering

New Delhi – The Enforcement Directorate (ED) has kept three of the Trinamool Congress (TMC) bank accounts frozen under Section 17 of the Prevention of Money Laundering Act (PMLA), even as the Kolkata High Court removed the Kolkata Police’s restriction on all TMC accounts. The divergence underscores two parallel legal tracks: a police‑initiated restraint now revoked, and a financial investigation that remains in force.

Legal Framework and Background

Section 17 of the PMLA empowers the directorate to conduct searches, seizures, and asset attachment, while Section 17(1A) specifically authorises the seizure of assets. Based on these provisions, the ED alleges that certain TMC members funneled about ₹160 crore through an aviation firm to purchase a jet and a helicopter, prompting the freeze of three out of eighteen identified accounts holding a total of ₹440 crore.

Details of the ED Investigation

The directorate’s statement says that between April 2023 and June 2026, ₹82.9 crore was routed to a newly‑incorporated entity linked to Carewell Aviation India for acquiring an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter. An additional $1.7 million unsecured loan from a Cayman Islands‑registered entity was used to fund the helicopter purchase, prompting a probe into the offshore connection.

Political Ramifications and Next Steps

The High Court order primarily addressed the Kolkata Police’s action that prevented the two TMC factions— the main party and a breakaway group led by Ritabrata Banerjee—from operating the accounts. The ED, however, was not a party to that petition, and its freeze remains untouched. The breakaway faction has announced plans to challenge the ruling by filing a Special Leave Petition (SLP) before the Supreme Court and to make the ED a respondent in the case.

Future Outlook

If the Supreme Court admits the SLP and includes the ED, the investigation could be broadened, potentially exposing further financial irregularities within the party. This development may also set a precedent for how India’s enforcement agencies handle political financing, balancing investigative powers against judicial oversight.