Court Grants TMC Limited Access to Frozen 440 Crore Accounts

The All India Trinamool Congress (AITC) is fighting to regain access to three HDFC Bank accounts totaling ₹440.42 crore, which were frozen amidst a leadership struggle and a federal money laundering investigation. The accounts were initially frozen by the Bidhannagar police following complaints from a rebel faction led by Ritabrata Banerjee and former treasurer Aroop Biswas, who alleged the funds were proceeds of corruption and extortion.

On July 9, 2026, the Calcutta High Court granted the Mamata Banerjee-led faction conditional access to the funds for day-to-day administrative and legal expenses. Justice Saugata Bhattacharya appointed retired judge Subrata Talukdar as a special officer to supervise withdrawals until September 30. In his ruling, Justice Bhattacharya criticized the police for the "lightning speed" of the freeze and dismissed the rebel faction's claims as "sheer opportunism."

Simultaneously, the Directorate of Enforcement launched a probe under the Prevention of Money-Laundering Act, conducting raids at five locations in Kolkata. The agency alleges that between April 2023 and June 2026, the party routed approximately ₹160 crore through Carewell Aviation India Pvt Ltd to purchase an Embraer Legacy 600 jet and an AgustaWestland helicopter. The ED claims these assets were rented back to the party to obscure fund movements, aided by a $1.7 million unsecured loan from the Cayman Islands. The AITC condemned the federal action as "politically motivated," asserting all donations were transparently disclosed to the Election Commission of India.