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Supreme Court Dismisses Mamata-Led TMC Plea to Unfreeze Bank Accounts
M
Moneycontrol•01-10-2026, 16:23
Supreme Court Dismisses Mamata-Led TMC Plea to Unfreeze Bank Accounts
- •The Supreme Court dismissed a plea by the Mamata Banerjee-led TMC faction to operate four debit-frozen bank accounts with public sector banks.
- •Justices MM Sundresh and PB Varale declined to interfere with the Calcutta High Court's earlier refusal to unfreeze the accounts.
- •The top court noted that the Election Commission has frozen the party symbol, and the larger issue of who is entitled to the funds is pending adjudication.
- •Senior advocate Abhishek Singhvi argued the party needed Rs 12.15 crore monthly for operations, while Solicitor General Tushar Mehta cited a factional dispute and an ongoing investigation into alleged cash deposits of Rs 35 crore.
- •The Calcutta High Court had previously refused to unfreeze the accounts, observing that granting such relief would undermine its order allowing the party to meet day-to-day expenses from other accounts.
Key Questions Answered
The Supreme Court dismissed the plea because the Election Commission has frozen the symbol and the larger issue regarding entitlement to the amount is pending adjudication, noting it was not inclined to interfere with the Calcutta High Court order.
Senior advocate Abhishek Singhvi argued that the state police froze the accounts to halt political activities, stating the party required a minimum of Rs 12.15 crore per month to sustain its operations and expenses.
The Calcutta High Court refused to pass an interim order to operate the four debit-frozen accounts holding about Rs 804 crore, noting that granting relief would undermine its earlier order appointing a special officer for day-to-day expenses from other accounts.
