ED raids TMC-linked locations in Bengal, probes ₹440 crore in frozen accounts
Synopsis
The ED has moved into one of India's most politically charged intra-party financial disputes — raiding locations tied to the TMC's ₹440 crore in frozen accounts. With a rebel MLA faction, a former party treasurer, the West Bengal Police, and now a central agency all circling the same three bank accounts, this is no longer just a party split — it is a full-scale multi-agency legal reckoning.
Key Takeaways
The Enforcement Directorate (ED) on 7 July launched a PMLA probe into three TMC bank accounts holding approximately ₹440 crore .
Multiple ED teams with CAPF escorts raided several locations in West Bengal , including an office of an alleged chartered aviation firm used by Mamata Banerjee and Abhishek Banerjee .
Debit restrictions on the accounts were imposed last month following complaints by former treasurer Aroop Biswas and a rebel MLA faction led by expelled MLA Ritabrata Banerjee .
The Calcutta High Court declined to grant interim relief to the TMC leadership challenging the restrictions.
Both the West Bengal Police and the ED are now running parallel investigations into the accounts.
The Enforcement Directorate (ED) on Tuesday, 7 July launched a formal money laundering investigation into transactions linked to three bank accounts of the All India Trinamool Congress (TMC), which collectively hold approximately ₹440 crore and are currently under debit restrictions imposed at the direction of the West Bengal Police. Multiple ED teams, escorted by heavily armed Central Armed Police Forces (CAPF) personnel, conducted simultaneous raids and search operations across several locations in Kolkata and elsewhere in the state.
Key Developments in the Raids
Among the premises searched, according to sources, was the office of an aviation company that allegedly 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. The ED is reportedly examining whether payments routed through the party accounts were connected to proceeds of corruption or extortion, bringing the transactions within the scope of money laundering laws.
How the Accounts Came Under Scrutiny
The debit restrictions were imposed last month following two separate developments that emerged after the TMC's significant defeat in the West Bengal assembly elections held in April–May 2025. First, the party's former treasurer and former West Bengal Sports and Power Minister Aroop Biswas wrote to the concerned bank seeking a freeze on the accounts, citing fears of potential misuse of funds.
Subsequently, a group of legislators belonging to what sources describe as 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. This faction also alleged that the accounts may contain proceeds of corruption and extortion. Acting on these complaints, the police directed the bank to impose debit restrictions.
Court Declines Relief to TMC Leadership
The 'original but minority' faction of the party, led by Mamata Banerjee and Abhishek Banerjee, challenged the debit restrictions before the Calcutta High Court. The court, however, declined to grant interim relief and did not lift the restrictions, leaving the accounts frozen pending further proceedings.
ED's Money Laundering Angle
The ED has now taken independent cognisance of the allegations, initiating a parallel probe under the Prevention of Money Laundering Act (PMLA). This comes amid a broader political realignment within the TMC following the party's electoral rout — the first time in over a decade that the party has faced a serious internal challenge over its financial structures. Notably, the simultaneous involvement of state police, the High Court, and now a central enforcement agency underscores the multi-layered legal complexity of the case.
What Happens Next
With both the West Bengal Police and the ED conducting parallel investigations, legal observers expect the matter to return to court as the affected factions seek clarity on access to the frozen funds. The ED's raids signal an escalation that could draw in additional individuals and entities as the probe widens. The political fallout within the TMC is likely to intensify as the investigation progresses.
Point of View
Coming weeks after the TMC's assembly election defeat, raises legitimate questions about whether enforcement action is tracking political fracture lines. That said, the Calcutta High Court's refusal to lift debit restrictions lends the probe a degree of judicial endorsement that shields it from easy dismissal as politically motivated. The real test will be whether the ED's investigation produces documented money trails or remains confined to the political theatre surrounding a party in disarray.
NationPress
7 Jul 2026
Frequently Asked Questions
Why has the ED raided TMC-linked locations in West Bengal?
The ED raided multiple locations on 7 July as part of a money laundering investigation into three TMC bank accounts holding around ₹440 crore that are under debit restrictions. The agency took cognisance of allegations that the accounts may contain proceeds of corruption and extortion.
Why are the TMC bank accounts frozen?
The accounts were placed under debit restrictions last month after former TMC treasurer Aroop Biswas wrote to the bank seeking a freeze, followed by a similar request from a rebel MLA faction led by expelled MLA Ritabrata Banerjee. The West Bengal Police then directed the bank to impose the restrictions.
What did the Calcutta High Court rule on the frozen accounts?
The Calcutta High Court declined to grant interim relief to the TMC faction led by Mamata Banerjee and Abhishek Banerjee, which had challenged the debit restrictions. The restrictions therefore remain in place pending further legal proceedings.
What is the aviation company connection in the ED raids?
Sources indicate that one of the premises searched was the office of an aviation company that allegedly provided chartered flight services to TMC leaders, including Mamata Banerjee and Abhishek Banerjee, for election campaigns and official travel. The ED is examining whether payments to this firm are linked to the funds under scrutiny.
Are the ED and West Bengal Police conducting separate investigations?
Yes, both agencies are running parallel probes. The West Bengal Police directed the bank to impose debit restrictions and is conducting its own investigation, while the ED has independently initiated a PMLA case based on the allegations of corruption and extortion proceeds being routed through the accounts.
