Kolkata: The Enforcement Directorate (ED) has uncovered an alleged ₹164-crore discrepancy in bank accounts linked to the Trinamool Congress (TMC) and has sought detailed records from the bank to trace the source and destination of the funds. The latest finding adds a fresh dimension to the central agency’s ongoing money laundering probe into the ruling West Bengal party’s financial transactions.
According to officials, the mismatch surfaced during a forensic examination of banking records. As internal financial documents reportedly failed to reconcile the transactions, the ED has asked the bank to provide account-opening documents, complete transaction statements, KYC records, details of authorised signatories and a transaction-wise break-up to verify the alleged discrepancy.
Probe focuses on unexplained fund flow
Investigators are examining whether the funds reflected in the accounts match the party’s declared receipts and expenditures. The agency is also trying to establish the origin, routing and utilisation of the money to determine whether any provisions of the Prevention of Money Laundering Act (PMLA) or other financial laws have been violated.
Officials believe the banking data will help reconstruct the money trail and ascertain whether the mismatch stems from accounting lapses, unexplained deposits or suspicious financial transactions. The findings could shape the next phase of the investigation.
Part of a wider ED investigation
The latest development comes days after the ED froze three TMC bank accounts holding deposits of about ₹440 crore under the PMLA. The agency has alleged that nearly ₹160 crore was transferred from TMC accounts to Carewell Aviation India Pvt. Ltd. and related entities between 2023 and 2026, with part of the funds allegedly used to acquire a business jet and a helicopter.
The ED has been probing suspected financial irregularities, including the alleged routing of party funds through entities linked to the aviation company. Searches were conducted at multiple locations in and around Kolkata earlier this month as part of the investigation.
TMC rejects allegations
The Trinamool Congress has dismissed the ED’s action as “politically motivated”, maintaining that all party funds have been fully disclosed to the Election Commission of India and the Income Tax Department. The party has accused the Centre of using investigative agencies to target opposition parties, a charge repeatedly denied by the Union government.
With the ED now awaiting detailed banking records, the investigation is expected to intensify as officials attempt to reconcile the alleged ₹164-crore mismatch and determine whether further legal action is warranted.
