New Delhi: The Supreme Court on Thursday dismissed a plea filed by the Mamata Banerjee-led faction of the Trinamool Congress (TMC) seeking permission to operate four bank accounts that have been debit-frozen.
The Supreme Court declined to interfere with the Calcutta High Court’s interim arrangement concerning the accounts. The four bank accounts reportedly hold around Rs 804 crore.
Supreme Court Declines to Interfere With Calcutta High Court Order
The plea was filed after the Calcutta High Court had earlier declined to grant interim relief to the Mamata-led TMC faction for directly operating the four accounts.
The Supreme Court, while dismissing the plea, also asked the Calcutta High Court to expedite the hearing of the matter. The top court did not disturb the existing interim arrangement put in place by the High Court.
The dispute over the bank accounts comes amid an ongoing organisational and legal contest between rival factions of the TMC.
TMC Accounts and Financial Operations Under Dispute
The Calcutta High Court had earlier permitted limited access to certain other frozen accounts for routine party and legal expenses under the supervision of a court-appointed special officer.
The High Court’s arrangement was intended to allow the party to meet day-to-day expenses while the broader dispute over control of the organisation remains under consideration.
The freezing of the accounts is also linked to allegations that are being examined by investigating agencies. The Enforcement Directorate has separately been investigating financial transactions connected with the TMC and related entities.
TMC Factional Dispute Also Before Election Commission
The bank-account dispute comes against the backdrop of a larger fight between rival TMC factions over control of the party.
The Election Commission has also been dealing with the dispute over the TMC’s name and election symbol. The Supreme Court recently directed the poll panel to complete the process within three months.
For now, the Supreme Court’s latest order means the Mamata Banerjee-led faction will not receive permission to directly operate the four debit-frozen bank accounts, while the proceedings before the lower court continue.