Calcutta High Court Denies Relief to TMC, Refuses to Unfreeze Three Party Bank Accounts

In a major setback for the Trinamool Congress (TMC) faction led by Mamata Banerjee, the Calcutta High Court on Monday (July 20, 2026) declined to grant interim relief to operate three party bank accounts frozen by the Enforcement Directorate (ED).

Key Details of the Case:
- Frozen Funds: The ED had frozen three TMC bank accounts holding a total of Rs 440.42 crore based on an investigation stemming from a state police FIR regarding alleged financial irregularities and suspicious transactions.
- Investigation Findings: According to PTI reports, initial ED probes revealed that between April 2023 and June 2026, approximately Rs 160 crore was transferred from TMC accounts to Carewell Aviation India Pvt Ltd and an associated entity.
- Asset Purchases: Investigators allege that around Rs 82.96 crore was funneled to another new company, with roughly Rs 112 crore ultimately utilized to purchase high-end luxury assets, including an Embraer Legacy 600 business jet and an AgustaWestland 109SP helicopter.