Supreme Court declines to lift ED freeze on Trinamool Congress bank accounts

A bench of the Supreme Court, comprising Justices MM Sundresh and PB Varale, dismissed petitions filed by the All India Trinamool Congress seeking to lift the freeze on three of its bank accounts. The Enforcement Directorate had previously frozen these accounts, which hold a total of 440.42 crore rupees, citing an investigation into money laundering and suspicious financial transactions. The Supreme Court declined to interfere with the July 9 interim order issued by the Calcutta High Court, which had kept the accounts under restriction while permitting limited access to funds for daily party expenses.

The Supreme Court observed that the existing arrangement, which involves oversight by a court-appointed special officer, is a balanced approach to the matter. The Enforcement Directorate maintains that the accounts are central to its investigation into allegations of illegal fund collection and money laundering. The party had sought full access to the accounts, but the court's decision ensures that the restrictions remain in place while the investigation and legal proceedings continue.