High Court Allows TMC Access to Frozen Rs 440 crore

The Calcutta High Court on Thursday granted the Trinamool Congress (TMC) conditional access to its three bank accounts, which had been frozen by police and federal investigators, allowing the party to use the funds for essential operations under judicial supervision. The court's interim order, which lasts until September 30, came a day after the Enforcement Directorate (ED) announced it had frozen the accounts, holding deposits worth approximately Rs 440 crore, under the Prevention of Money Laundering Act (PMLA).

The legal saga began on June 19, when Kolkata Police froze debit operations on the three HDFC Bank accounts. This action followed a complaint filed the previous day by rebel TMC MLA Biswanath Das, who alleged financial misconduct. The party has been embroiled in internal factionalism since its defeat in the West Bengal Assembly elections in May. The federal ED entered the case this week, conducting raids on Tuesday at five premises in Kolkata, including offices of Carewell Aviation India Pvt. Ltd., a private jet and charter company.

In its statement Wednesday, the ED alleged its preliminary investigation found about Rs 160 crore was transferred from TMC accounts to...