The Enforcement Directorate (ED) conducted day-long raids and search operations across five locations in Kolkata on Tuesday, 7 July, zeroing in on doubtful debit transactions worth ₹150 crore linked to three bank accounts of the Trinamool Congress (TMC). The accounts had already been placed under debit restrictions on the directions of the West Bengal Police, and the central agency is now examining whether the transactions amount to money laundering.

What the Raids Uncovered

ED officials seized a range of incriminating material during the simultaneous operations, including both physical documents and digital or electronic records, according to sources aware of the development. The seized material reportedly points to the doubtful nature of the ₹150 crore in debits made from the three accounts.

Alongside the TMC accounts, the agency has also trained its lens on two travel agencies and one aviation company, which are said to be the entities with which the flagged transactions were conducted.

Aviation Firm at the Centre

One of the five raided premises was the office of the aviation company in Central Kolkata. The firm reportedly provided chartered flight services to senior TMC leaders, including former West Bengal Chief Minister Mamata Banerjee and the party's national general secretary Abhishek Banerjee, for election campaigns and official travel. ED officials also searched the Salt Lake residence of the aviation company's owner.

How the Accounts Were Frozen

The three TMC bank accounts, which together hold approximately ₹440 crore, were placed under debit restrictions last month following two separate complaints — both emerging in the wake of the party's rout in the April-May assembly elections.

First, Aroop Biswas, the party's former treasurer and former West Bengal Sports and Power Minister, wrote to the bank seeking a freeze, citing fears of fund misuse. Subsequently, MLAs belonging to the 'rebel but majority' faction of the TMC legislature party — led by expelled MLA Ritabrata Banerjee — approached the West Bengal Police with a similar request, alleging the accounts could contain proceeds of corruption and extortion.

Acting on these complaints, the police directed the bank to impose debit restrictions. The 'original but minority' faction, led by Mamata Banerjee and Abhishek Banerjee, challenged the move before the Calcutta High Court, which declined to grant interim relief and left the restrictions in place.

ED's Money Laundering Angle

The ED subsequently initiated its own probe, taking cognisance of allegations that proceeds of corruption and extortion may have been routed through the accounts — a potential trigger under the Prevention of Money Laundering Act (PMLA). This marks a significant escalation, bringing a central enforcement agency directly into what had begun as an intra-party dispute.

What Comes Next

With incriminating documents now in the ED's possession and the aviation firm and travel agencies under scrutiny, formal summons and further questioning of key individuals are likely. The outcome of this investigation could have significant legal and political consequences for the TMC's leadership and internal finances, particularly as the party navigates a fractured post-election landscape.