Court Steps In Over Frozen TMC Accounts, Seeks Corpus Details from Bank by July 7

The Calcutta High Court on Thursday directed a private bank to disclose the total funds (corpus) held in three bank accounts linked to a Mamata Banerjee-led faction of the Trinamool Congress (TMC) , amid a dispute over a debit freeze imposed after a police FIR.

The court ordered the bank to submit details by July 7 and listed the matter for further hearing on July 8 , while also allowing the Bidhannagar Police to place investigation records before it.

The case arose after rebel TMC MLAs , aligned with a rival faction, complained to cyber crime police alleging unauthorised and suspicious transactions in party accounts and sought a probe into the source of funds . Following the complaint, an FIR was registered on June 18 , and the accounts were frozen the next day.

The court questioned the urgency of the freeze , asking what prima facie material existed before such action was taken so quickly after the FIR. It is also considering appointing retired judges as special officers to manage the accounts temporarily during the dispute.

Appearing for the petitioner, senior advocate Abhishek Manu Singhvi argued that freezing the accounts has effectively paralysed a political party , violating the principle of a level playing field and raising fundamental rights concerns .

The police, represented by Solicitor General Tushar Mehta , claimed the investigation indicates possible siphoning of funds and said evidence will be produced. The complainant’s counsel questioned the maintainability of the petition , stating that a new party committee has been formed and authority over the accounts is disputed.

The case concerns internal control over TMC finances and alleged irregular transactions, and is not related to electoral bonds.