HC refuses interim order on TMC plea to unfreeze Rs 804cr in 4 Indian Bank a/cs
Times of India | 28 August 2026
Kolkata: Calcutta High Court on Thursday refused to pass an interim order allowing Trinamool’s Mamata Banerjee faction to operate four additional Indian Bank accounts with Rs 804 crore in funds frozen by Bengal police’s cyber department over allegations of “organised crime”.
Justice Saugata Bhattacharyya held that allowing one TMC faction to operate the accounts would “fault” his previous interim order on the other three frozen HDFC Bank accounts, from where he had allowed the Mamata faction to only withdraw funds for monthly expenditure and to pay salaries of around 200 employees and rent. This was allowed under a special officer’s supervision.
The four accounts were frozen on July 7 and TMC allegedly came to know about it through an Indian Bank letter notifying the same on July 16.
Justice Bhattacharyya observed: “Let it be decided first in whose favour this account will go ultimately, subject to the decision to be taken by ECI. There are two factions and there is infighting as to which is the original political party. So, at this stage, beyond necessity, the court will not permit anything.”
Appearing for TMC, senior advocate and its Rajya Sabha MP Menaka Guruswamy, in her virtual appearance, argued that as a political party and opposition party in the state they needed to put up hoardings and conduct rallies for which funds were required.
Additional advocate general (AAG) Rajdeep Mazumder opposed the prayer and pointed out cash deposits made post-2018. He submitted that Debraj Chakraborty, arrested by Bengal STF in July 2026 over alleged charges of organised crime, extortion and disproportionate assets, had deposited Rs 10 crore. “From this account, Rs 30 crore has been transferred to Leaps and Bounds, which is a charge-sheeted company in SSC scam and properties of Leaps and Bounds have been frozen by ED,” the AAG said.
Justice Bhattacharyya pointed out that the “best instance” would have been that the Mamata faction was able to use all bank accounts to meet all expenditure but the court had already decided that during pendency of the writ petition they cannot operate a bank account in its entirety.