Luxury jet, Agusta chopper: Curious case of TMC-owned aircraft 'rented' by Mamata

The ED, probing the TMC's bank accounts, has stumbled upon a curious arrangement. The ED has alleged the Trinamool funded the purchase of a luxury jet and a helicopter only to rent the very aircraft back. The TMC has called the action politically motivated.

In Short

• Carewell Aviation was incorporated in September 2021, when Trinamool won again
• Agency said Rs 160 crore moved from party accounts over three years
• Investigators alleged Rs 82.96 crore was routed to another new entity

Did the Trinamool Congress fund the purchase of a luxury jet and a helicopter only to rent the very aircraft back? The puzzling question is at the centre of the ED's money laundering probe into the Mamata Banerjee-led party's bank accounts. Adding to the party's woes, the ED also froze three bank accounts of the TMC holding deposits of Rs 440 crore - a move the party called "politically motivated".

Significantly, this is the first time that the ED is solely investigating the funding of a political party. Previously, the accounts of the AAP were also probed, but it was part of an investigation into the Delhi liquor policy case. The development further tightens the noose around the TMC, whose leaders have been facing a raft of cases, from signature forgery to land grab.

ED RAIDS AVIATION COMPANY

The present case stems from the ED's raids on a Kolkata-based aviation management and leasing firm, Carewell Aviation India Pvt Ltd. Interestingly, the firm was incorporated in September 2021 - the same year Trinamool came to power for a third term.

The ED, in its statement, has claimed that around Rs 160 crore was transferred from the Trinamool's bank accounts to Carewell Aviation between April 2023 and June 2026. The company further routed Rs 82.96 crore to another newly incorporated entity.

The funds transferred from the TMC, the ED claimed, were used by Carewell to purchase a luxury business jet - an Embraer 600 - and an Agusta 109 SP helicopter. The two aircraft cost around Rs 112 crore.

The Embraer Legacy 600 is a mid-size business jet manufactured by Brazilian firm Embraer. It features luxurious interiors, with seats that can convert into flatbeds. On the other hand, the Agusta 109 SP is a high-speed, twin-engine VIP helicopter manufactured by Italian firm Leonardo (formerly AgustaWestland).

Moreover, the ED found that around Rs 16 crore was secured in 2023 from a Cayman Islands-based company for the purchase of the AgustaWestland helicopter. A British Overseas Territory, the Cayman Islands is globally famous for being a hub of offshore companies.

"It is also revealed that an amount of USD 1.7 million was arranged as an unsecured loan in 2023 from one Cayman Islands-based entity to purchase the said helicopter," the ED statement further said.

TMC RENT AIRCRAFT BOUGHT WITH OWN FUNDS?

Now, here is where the case gets interesting, and has piqued the interest of the ED. The financial probe agency has found that both the helicopter and the Embraer jet were leased back to the Trinamool for rent. This, despite Carewell purchasing the aircraft using funds transferred from the party.

In simple terms, the situation is akin to someone buying a brand new car with their own money and then paying rent to use the very same car.

According to a report in Bengali daily Anandabazar Patrika, Carewell Aviation provided charter services to VVIPs, including top TMC leaders like Abhishek Banerjee, Mamata's nephew.

"These Embraer 600 aircraft and Agusta helicopter were subsequently rented out to TMC itself, even though they were purchased from the party's corpus. Thereafter, substantial amounts were transferred on the pretext of aircraft usage," the ED said in its statement.

TRINAMOOL CRIES VENDETTA

The ED is now zeroing on finding the reason behind the move. The agency suspects it might have been done to camouflage the true purpose of the transactions. These transactions may have been used to siphon party funds.

The investigation is based on an FIR registered by Bidhanagar Police. It is based on a complaint from rebel TMC MLA Biswanath Das. Das joined the rebel TMC camp led by Ritabrata Banerjee in May.

The Trinamool has cried foul, accusing the BJP of "misusing" probe agencies to target its opponents. The party, in a post on X, asserted that all funds in its accounts were transparently disclosed.

"The party has duly reported all donation transactions to the Election Commission and the Income Tax Department," it said.

"The details relating to electoral bonds are already available with the government, as the bonds were issued by the SBI and subsequently submitted to the Supreme Court," the party further said.

For now, the ED has a curious case to deal with and find out the answer. Why would the TMC allegedly finance the purchase of aircraft, only to pay rent for using the same jets later?

- Ends