Calcutta High Court on Thursday granted interim relief to the Trinamool Congress (TMC) in connection with the freezing of its bank accounts worth Rs 440 crore, while placing the party’s financial operations under strict judicial supervision. Hearing a plea from the Kalighat-based leadership of the party, the court permitted withdrawals to meet essential day-to-day expenses but ruled that no funds can be accessed without prior approval from a court-appointed special officer.
The bench clarified that it would not adjudicate on the question of “who constitutes the real Trinamool Congress,” opting instead for an arrangement that ensures continuity of basic organisational functions.
Former High Court judge Subrata Talukdar has been appointed as the special officer to oversee the operation of three key bank accounts. He will remain in charge until September 30. Under the court’s directions, any cheque issued by the party must first be submitted to him, and funds will be released by the bank only after he reviews and approves the stated purpose of expenditure. He will receive a monthly remuneration of Rs 1.25 lakh for the assignment.
The court’s order effectively places the party’s finances under close scrutiny, significantly curbing its autonomy despite allowing limited operational access. The arrangement enables the party to meet essential expenses such as staff salaries and legal costs, but only under the special officer’s supervision.
Appearing for the TMC, senior advocate Abhishek Manu Singhvi argued that freezing the accounts had severely hampered the functioning of a political party in a democratic system. “Funds are essential to sustain a political party. Every penny is regulated and audited by the Election Commission and the Income Tax Department. These are not benami accounts. Yet the accounts have been frozen,” he submitted.
Representing the Enforcement Directorate (ED), Solicitor General Tushar Mehta defended the agency’s action, citing an ongoing investigation into alleged financial irregularities.
According to the ED, searches conducted at multiple premises linked to an airline company revealed suspicious transactions involving the party’s accounts. A statement issued by the central agency’s Kolkata zonal office stated that Rs 440.42 crore belonging to the party had been frozen as part of the probe into the alleged financial misconduct.
The court noted the need to balance the investigation with the party’s operational requirements, leading to the interim mechanism of supervised withdrawals. This arrangement will remain in force until September 30, when the matter is scheduled to be heard again.
For now, while the TMC has secured limited relief, its access to funds remains tightly controlled, with every expenditure subject to prior approval from the Special Officer.
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