ED says TMC paid Rs 160 crore to little-known firm for jet and helicopter

The Enforcement Directorate has alleged that the Trinamool Congress paid Rs 160 crore from party funds to Carewell Aviation India Pvt Ltd, a little-known company, to buy an Embraer jet and an Agusta VIP helicopter. The aircraft were then rented back to TMC for Rs 187 crore, according to the ED's money laundering probe.

The ED claims TMC gave an interest-free security deposit of Rs 88.5 crore to Carewell Aviation, which had no funds of its own. The company transferred the money to its offshore entity in Gift City to purchase the aircraft. TMC was to pay Rs 186.9 crore for using the jet and helicopter over 72 and 56 months respectively, but did not fully use the minimum flying hours and hired other aircraft for Rs 149 crore.

The ED suspects the transactions were an artificial commercial arrangement. The party paid Rs 75.7 lakh per flying hour for a Falcon 2000 jet from another firm, compared to Rs 16.5 lakh per hour for the Embraer from Carewell. TMC declined comment, saying the matter is sub judice. The ED has questioned the company's directors.