No relief for Mamata Banerjee: Supreme Court refuses to release ₹440 crore from TMC’s frozen bank accounts
The Supreme Court has declined to grant relief to TMC. This concerns its frozen bank accounts, holding around ₹440 crore. A bench of Justices MM
The Supreme Court has declined to grant relief to TMC. This concerns its frozen bank accounts, holding around ₹440 crore. A bench of Justices MM Sundresh and PB Varale heard the matter on 11 August. TMC earlier challenged the Calcutta High Court's 20 July order. That order refused permission to operate three HDFC accounts. It also challenged a related order dated 9 July. A separate petition was filed by rebel leader Biswanath Das. He challenged the same 9 July order, too. Das claims to represent the party's genuine leadership. Also Read | Another setback for Mamata Banerjee as MP Koel Mallick resigns from Rajya Sabha The Supreme Court disposed of both petitions without granting relief, according to LiveLaw. It called the High Court's order "balanced". Justice Sundresh said all contentions remained open elsewhere.
He clarified that issues could be raised in the main petition. This petition currently remains pending before the Calcutta High Court. The Court left decisions to the court-appointed Special Officer instead. Justice Sundresh noted that the 9 July order had allowed daily operations. This ensured party functions weren't completely stalled. Senior Advocates Kapil Sibal, Abhishek Manu Singhvi and Menaka Guruswamy represented Mamata Banerjee’s TMC. Additional Solicitor General SV Raju appeared for the ED. Senior Advocate K Parameshwar represented rebel leader Biswanath Das, according to LiveLaw. The ED's freeze relates to a money laundering investigation. It concerns alleged fund transfers to Carewell Aviation India. This involved a purported acquisition of an aircraft and a helicopter. TMC’s argument Kapil Sibal referred to the amount of money represented in the alleged proceeds of crime.
“The alleged proceeds of crime are ₹60 crores. Bank has more than ₹400 crores. Why should all of it be frozen?” LiveLaw quoted Sibal as asking. He said this prevented TMC from meeting basic obligations. This included salary payments for around 250 employees. Monthly salaries currently total around ₹53.23 lakh, he said. Sibal also cited pending payments for security and office services. Total monthly expenditure across 17 offices reached roughly ₹1 crore. ASG Raju countered that ₹125 crore currently remained available. He said that three accounts were already allowed for daily operations. These accounts were reportedly free from ED encumbrance. Sibal disputed this claim, saying accounts were actually encumbered. Raju offered to file an affidavit clarifying the position. Justice Sundresh clarified that the Court wasn't examining factional disputes.
The BriefWire