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Setback For TMC! SC Upholds Calcutta HC Order On Rs 440 Crore Frozen Bank Accounts; Calls Restrictions ‘Balanced’
Sanjeev Kumar | August 11, 2026 10:21 PM CST

New Delhi: In a major setback to the Trinamool Congress (TMC), the Supreme Court on Tuesday refused to interfere with restrictions imposed by Calcutta High Court on the Mamata Banerjee-led party in operating bank accounts frozen by the  (ED) as part of a money laundering probe.

The apex court calls the high court's order "balanced." The Supreme Court said that the Calcutta High Court had only passed an interim order and the TMC was free to go back to the HC. The SC bench made these remarks while hearing a plea filed by the TMC challenging the Calcutta High Court's July 20 interim order whereby it refused to permit the party to operate three HDFC bank accounts, as well as the July 9 order which allowed the use of those accounts for daily expenses under the supervision of the Court-appointed Special Officer. The top court also heard a petition filed by Biswanath Das, a rebel TMC leader, who challenged the July 9 order, contending that he represents the real party. The apex court disposed of both the petitions, observing that the High Court's order was "balanced." The Supreme Court also allowed Biswanath Das to raise his objections before the Special Officer. The SC clarified that all contentions are open to be raised in the main petition pending in the High Court. "We will not say anything. We will dispose of both matters and leave it to the discretion of the Special Officer appointed by the High Court. Whatever you want to say, say it in the main petition," Justice Sundresh said. He further said that the July 9 order of the High Court ensured that the daily operations are not stalled. Senior Advocates Kapil Sibal, Abhishek Manu Singhvi and Menaka Guruswamy appeared for  Additional Solicitor General SV Raju appeared for the ED. Meanwhile, senior advocate K Parameshwar appeared for Biswanath Das. Last month, the federal probe agency froze three bank accounts of the party. These accounts reportedly have Rs 440 crore deposits. As per the ED, the action was taken under the anti-money laundering law following searches in an alleged funds misappropriation case. The TMC had called the ED's act politically motivated, arbitrary, and illegal. The party also claimed that all funds held in the party's bank accounts were "fully and transparently disclosed." "All funds held in the party's bank accounts have been fully and transparently disclosed. The party has duly reported all donation transactions to the Election Commission of India (ECI) and the Income Tax Department. These disclosures are published annually on the ECI's website and are available in the public domain," the Banerjee-led party said in a statement.


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