TMC Challenges ED’s ₹440-Crore Bank Account Freeze Before Calcutta High Court
The Trinamool Congress (TMC) has approached the Calcutta High Court challenging the Enforcement Directorate’s (ED) decision to freeze three of its HDFC Bank accounts holding deposits of around ₹440 crore. The party has sought urgent judicial intervention, contending that the ED’s action is arbitrary, politically motivated, and has disrupted its day-to-day organisational and financial activities. The matter is expected to be taken up by the High Court shortly.
The fresh petition comes just days after another Bench of the Calcutta High Court granted the TMC interim relief against restrictions imposed by the Kolkata Police, allowing limited operation of the same accounts for routine expenses under the supervision of retired Justice Subrata Talukdar, who was appointed as a Special Officer. However, that order did not specifically address the ED’s independent freezing action under the Prevention of Money Laundering Act (PMLA).
The ED froze the accounts after alleging that nearly ₹160 crore was transferred from TMC accounts to private entities, including Carewell Aviation India Pvt. Ltd., as part of an alleged money laundering network involving the purchase and leasing of an Embraer business jet and an Agusta helicopter. The agency has maintained that the freezing order was issued under its statutory powers during an ongoing investigation into the suspected financial trail.
The TMC has denied all allegations, asserting that every financial transaction was duly disclosed to the Election Commission of India and the Income Tax Department. Party leaders have accused the Centre of misusing investigative agencies to target political opponents and argued that the ED’s action is intended to cripple the party’s functioning ahead of important political developments.
Legal experts note that the present proceedings are distinct from the earlier litigation concerning the police-imposed restrictions. The High Court will now have to examine whether the ED’s freezing order satisfies the statutory requirements of the PMLA and whether the agency’s action was proportionate to the ongoing investigation. The outcome could have significant implications for the extent of the ED’s powers to freeze bank accounts belonging to recognised political parties during money laundering investigations.
