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New Delhi: The Supreme Court on Tuesday refused to provide interim relief to the Trinamool Congress (TMC) in the case involving the freezing of three party-linked bank accounts by the Enforcement Directorate (ED). The top court upheld the earlier order of the Calcutta High Court, which had declined to fully restore access to the accounts.

A bench comprising Justice MM Sundresh and Justice PB Varale said it found the High Court's order to be balanced and refused to interfere with the interim arrangement. The court observed that all issues to the case could be raised during the hearing of the main petition pending before the Calcutta High Court.

Supreme Court Says Daily Party Operations Not Halted

While hearing the matter, the Supreme Court noted that the High Court's order would not completely stop the party's day-to-day functioning.

The bench said the interim measures already taken by the High Court sufficiently protected the interests of both sides, and therefore no further intervention was required at this stage.

The TMC faction led by Mamata Banerjee had approached the Supreme Court challenging the Calcutta High Court's order restricting operations of its three HDFC Bank accounts.

ED Frozen Accounts With Over Rs 440 Crore Balance

The Enforcement Directorate had frozen three bank accounts allegedly linked to TMC as part of a money-laundering investigation.

According to the ED, the accounts contained a combined balance of around Rs 440.42 crore.

The probe reportedly began after a complaint alleging suspicious financial transactions, unlawful collection of funds and movement of suspected proceeds through certain accounts associated with the party.

The agency has alleged that some transactions between April 2023 and June 2026 were linked to Carewell Aviation India and an associated company, relating to the purchase of an aircraft and a helicopter.

TMC calls action arbitrary

The ED had earlier frozen a total of six bank accounts, including three accounts linked to TMC. The party opposed the action, claiming that freezing the accounts was arbitrary and affected its functioning. However, the Calcutta High Court allowed limited use of funds for essential day-to-day expenses and appointed a special officer to monitor expenditure.