Trinamool Congress's Mamata Banerjee-led block suffered another major setback on Monday after the Calcutta High Court refused t to grant an interim stay on the Enforcement Directorate's decision to freeze the party's three main bank accounts having an amount of Rs 440 crore.
A bench of Justice Krishna Rao dismissed the plea of TMC's Mamata Banerjee camp, which sought interim permission to use these accounts for day-to-day operations.
The case pertains to alleged financial irregularities, illegal accumulation of funds and suspicious fund siphoning under the Prevention of Money Laundering Act (PMLA).
The judge reserved his decision after the hearing concluded on July 13. On Monday, the court delivered its verdict, providing no relief for the Mamata faction.
Investigation into financial irregularities in PMLA case continues
The ED investigation has revealed that between April 2023 and June 2026, around Rs 160 crore was transferred from Trinamool Congress's accounts to 'Carewell Aviation India Private Limited' and its associate companies.
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Subsequently, Carewell Aviation transferred approximately Rs 83 crore to another new entity. Out of this suspicious amount, Rs 112 crore was used to purchase a luxury Embraer Legacy 600 commercial aircraft and an AgustaWestland helicopter.
How did the case begin?
The case began with an FIR filed by the Kolkata Police following a complaint by rebel Trinamool Congress MLA Biswanath Das. On June 19, the police froze these accounts, followed by the ED's complete freezing of these accounts containing Rs 440 crore on July 8.
It is worth mentioning that another bench, earlier, had given limited relaxation on the police action. However, the latest ruling of the Calcutta High Court on the PMLA action of the ED has completely blocked the financial path of the Mamata camp.