The Supreme Court on Tuesday declined to interfere with the Calcutta High Court’s orders governing the operation of three bank accounts of the All India Trinamool Congress (TMC) that have been frozen by the Enforcement Directorate (ED) in connection with a money laundering investigation.
A Bench of Justice MM Sundresh and Justice PB Varale was hearing TMC’s challenge to the High Court’s July 20 order refusing to allow unrestricted operation of the three HDFC Bank accounts. The accounts had earlier been permitted to be used for the party’s day-to-day expenses under the supervision of a Court-appointed Special Officer pursuant to a July 9 order.
The Supreme Court also heard a petition by rebel TMC leader Biswanath Das, who challenged the July 9 order and claimed to represent the “real party”.
The Bench disposed of both petitions, observing that the High Court had passed a “balanced” order. It permitted Das to raise his objections before the Special Officer and clarified that all contentions could be raised in the main proceedings pending before the High Court.
The judge noted that the High Court’s July 9 order ensured that the party’s day-to-day operations were not disrupted.
The ED has frozen three TMC accounts allegedly containing around Rs440 crore as part of its investigation into alleged transfers of funds to Carewell Aviation India and an associated entity between April 2023 and June 2026, purportedly in connection with the acquisition of an aircraft and helicopter.
The investigation originated from a complaint filed by Biswanath Das before the Bidhannagar Cyber Crime Police on June 18, alleging that funds generated through illegal activities and financial misconduct had been routed through the three accounts. An FIR was registered the same day, followed by an Enforcement Case Information Report (ECIR) by the ED on June 23.
Following searches, the ED froze six bank accounts, including the three HDFC accounts belonging to the TMC, on July 7.
TMC had challenged the freezing action as arbitrary and unsupported by any identifiable proceeds of crime.
The Calcutta High Court, however, had declined to grant unrestricted interim relief, observing that the legality of the alleged fund transfers could not be conclusively examined at the interim stage. It held that the parties could raise their objections before the PMLA Adjudicating Authority and in the pending writ proceedings.
The High Court had also noted that the ED had analysed the accounts and recorded reasons to believe that substantial transfers had been made to various entities, prima facie justifying the freezing action under the Prevention of Money Laundering Act (PMLA).
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