TMC slams ‘political vendetta’ after $46m account freeze

India’s opposition party Trinamool Congress (TMC) has accused federal authorities of political retaliation after its bank accounts were frozen as part of

India’s opposition party Trinamool Congress (TMC) has accused federal authorities of political retaliation after its bank accounts were frozen as part of a money-laundering investigation.

The Enforcement Directorate (ED), India’s financial crime investigation agency, announced action against accounts linked to the party while investigating alleged financial irregularities. The agency claimed that around $46 million had been frozen during the probe.

The investigation reportedly focuses on alleged transactions involving TMC-linked accounts and an aviation company. Officials alleged that approximately $16.8 million was transferred between April 2023 and June 2026 to firms connected with the aviation sector. Investigators claimed the money was used for purchasing a private aircraft and a helicopter, which were later leased back to the party.

The TMC, which has governed West Bengal for more than a decade before facing increased competition from Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP), rejected the allegations. The party said all its financial dealings were properly recorded and fully disclosed to government authorities.

In a statement, TMC leaders described the Enforcement Directorate’s decision as an “arbitrary and politically motivated” action. They accused the ruling BJP of using government agencies to pressure opposition parties and weaken political competition.

The party claimed that the use of investigative agencies against opposition leaders had become a wider concern for India’s democratic system. TMC leaders argued that such actions could affect the principle of a fair political environment before elections.

The BJP government has repeatedly rejected accusations of political interference. Officials from the ruling party have said that corruption investigations are carried out independently and that legal action is taken only when evidence of wrongdoing is found.

The dispute comes amid a broader political debate in India over the role of federal investigative agencies. Several opposition leaders have faced investigations and legal cases in recent years.

Former Delhi Chief Minister Arvind Kejriwal was arrested in 2024 in a case related to alleged irregularities in a liquor licensing policy. Kejriwal denied the accusations and called the case politically driven.

Jharkhand Chief Minister Hemant Soren, another opposition leader, was also arrested in 2024 over corruption allegations, which he rejected.