Ahmedabad Times

NEW DELHI: The Trinamool Congress (TMC) on Wednesday termed the Enforcement Directorate’s (ED) determination to freeze its financial institution deposits price Rs 440 crore as “politically motivated”, asserting that every one its monetary transactions had been absolutely disclosed to the Election Fee of India (ECI) and the Revenue Tax Division.The assertion got here hours after the ED froze the social gathering’s financial institution deposits below the Prevention of Cash Laundering Act (PMLA) as a part of an ongoing cash laundering investigation into monetary transactions linked to the social gathering’s financial institution accounts.Responding to the motion, the TMC mentioned in a publish on X that every one donations and financial institution accounts had been transparently disclosed and had been accessible within the public area.“All funds held within the social gathering’s financial institution accounts have been absolutely and transparently disclosed. The social gathering has duly reported all donation transactions to the Election Fee of India (ECI) and the Revenue Tax Division. These disclosures are revealed yearly on the ECI’s web site and can be found within the public area.The small print regarding electoral bonds are already accessible with the Authorities of India, because the bonds had been issued by the State Financial institution of India (SBI) and subsequently submitted to the Hon’ble Supreme Courtroom of India.”The social gathering additionally accused the Centre of utilizing investigative businesses towards political opponents.“The Enforcement Directorate’s determination to freeze the social gathering’s financial institution accounts is a politically motivated act. We strongly condemn this arbitrary and unlawful motion. The misuse of investigative businesses to focus on political opponents has grow to be a trademark of the BJP’s politics and represents a critical assault on democratic establishments and the rules of a degree taking part in area.”The ED had earlier mentioned it froze the social gathering’s deposits following a cash laundering probe into alleged monetary transactions involving TMC-linked financial institution accounts. The company is investigating claims that greater than Rs 150 crore was routed by way of a community of aviation, journey and allied service corporations and is analyzing whether or not funds used for chartered flights throughout the social gathering’s 2024 Lok Sabha marketing campaign had been layered by way of a number of entities to hide their supply.The investigation stems from a criticism alleging that proceeds of a significant cyber fraud had been transferred into sure TMC financial institution accounts. As a part of the probe, the ED has searched a number of places in Kolkata and is analyzing transactions involving a number of corporations and at the least 18 financial institution accounts linked to the case.