The case concerns three TMC accounts frozen by the ED in a money-laundering probe involving around ₹440 crore
The Supreme Court on Tuesday refused to interfere with a Calcutta High Court order restricting the operation of three bank accounts of the Trinamool Congress (TMC) that were frozen by the Enforcement Directorate (ED) as part of a money-laundering investigation.
A bench of Justices M M Sundresh and P B Varale said the High Court had passed a “balanced” order after considering the interests of all parties. The court disposed of TMC’s petitions challenging the interim arrangement.
The case involves around ₹440 crore lying in the three accounts, which were frozen by the ED during its probe.
SC says TMC can raise objections
While declining to grant the immediate relief sought by TMC, the Supreme Court allowed the party to raise its objections before the Special Officer dealing with the matter.
The court indicated that the existing arrangement put in place by the Calcutta High Court adequately protected the interests of the parties while allowing the legal process to continue.
The development means TMC has not secured the unrestricted access to the frozen funds that it had sought from the top court.
ED had frozen three TMC accounts
The Enforcement Directorate had frozen three bank accounts belonging to the party in connection with its money-laundering investigation.
TMC challenged the action before the Calcutta High Court, seeking interim relief against the freezing of the accounts. The High Court declined to grant the requested relief but put in place an arrangement governing the operation of the accounts.
TMC subsequently approached the Supreme Court, challenging the High Court’s order.
The top court, however, found no reason to interfere with the High Court’s interim arrangement.
Legal battle continues
The Supreme Court’s decision does not bring the underlying ED investigation to an end.
Instead, the order keeps the matter within the existing legal framework, with TMC retaining the option of placing its objections before the designated Special Officer.
The party will therefore have to pursue its challenge through the available legal process rather than receiving immediate judicial relief from the Supreme Court.
Setback for TMC amid ED probe
The ruling represents a setback for the Trinamool Congress in its immediate effort to gain greater access to the frozen funds.
The ED’s action and the freezing of the accounts have become another legal challenge for the party as the money-laundering investigation continues.
For now, the Supreme Court has backed the Calcutta High Court’s interim arrangement, describing it as balanced, while leaving TMC to pursue its objections before the Special Officer.
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