TMC bank accounts: ₹1,000 crore frozen across 15 accounts in two phases
Synopsis
Nearly ₹1,000 crore in Trinamool Congress funds is now frozen across 15 bank accounts in two phases — triggered by a rebel MLA faction's corruption allegations and a former party treasurer's freeze request. With the ED now raiding Kolkata locations under PMLA and the Calcutta High Court appointing a special officer, this is no longer just an internal party dispute — it is a full-scale financial and legal siege on one of India's most powerful regional parties.
Key Takeaways
Debit restrictions on 15 TMC bank accounts have frozen nearly ₹1,000 crore in two phases.
The latest phase covers 12 accounts with over ₹550 crore ; the earlier phase covered 3 accounts with ₹440 crore .
The Calcutta High Court appointed retired Justice Subrata Talukdar as special officer to operate the first three accounts until 30 September .
The freeze was triggered by former TMC treasurer Aroop Biswas and rebel MLAs led by expelled MLA Ritabrata Banerjee , who alleged corruption and extortion.
The Enforcement Directorate has launched a PMLA probe and conducted raids at 5 locations in Kolkata on Tuesday.
Debit restrictions on 15 bank accounts held by the Trinamool Congress (TMC) have now locked up nearly ₹1,000 crore in combined deposits, following two separate phases of freezing orders linked to West Bengal Police instructions and a subsequent Enforcement Directorate (ED) probe, sources aware of the development said on 10 July.
The Latest Phase: 12 More Accounts Frozen
In the most recent phase, debit restrictions were imposed from Friday on 12 additional TMC accounts held across various public and private sector commercial banks. According to sources, the combined deposits in these 12 accounts stand at over ₹550 crore.
This follows an earlier round in which restrictions were placed on three accounts held with a private sector bank — first on the directions of the West Bengal Police, and subsequently by the ED. Those three accounts held deposits totalling ₹440 crore.
Calcutta High Court Grants Limited Access
On Thursday, a single-judge bench of the Calcutta High Court granted the Mamata Banerjee-led faction of the TMC conditional and limited access to the three accounts frozen in the first phase. The court appointed retired judge Justice Subrata Talukdar as a special officer to operate those accounts until 30 September. All expenditure must be routed through the court-appointed officer.
The Mamata Banerjee and Abhishek Banerjee-led minority faction of the party had challenged the debit restrictions before the high court, but the court had earlier declined to grant interim relief and had not lifted the freeze.
What Triggered the Freeze
The chain of events began last month after two parallel developments. First, the party's former treasurer and former West Bengal Sports and Power Minister Aroop Biswas wrote to the concerned banks seeking a freeze on the accounts, citing apprehensions that the funds could be misused.
Subsequently, MLAs belonging to the 'rebel but majority' faction of the TMC Legislature Party — led by expelled MLA Ritabrata Banerjee — approached the West Bengal Police with a similar request, alleging that the accounts could contain proceeds of corruption and extortion. Acting on these complaints, the police directed the banks to impose debit restrictions.
ED Steps In, Raids Conducted
The Enforcement Directorate thereafter initiated its own investigation, taking cognisance of allegations that proceeds of corruption and extortion may have been routed through the accounts — bringing the matter within the ambit of the Prevention of Money Laundering Act (PMLA). On Tuesday, ED officials conducted raids and searches at five locations in Kolkata in connection with the probe.
With the Calcutta High Court now supervising expenditure from the first set of accounts and the ED investigation widening, the political and legal battle over TMC's frozen funds is set to intensify in the weeks ahead.
Point of View
000 crore across 15 TMC accounts is extraordinary in scale — but the more significant detail is who triggered it: not an opposition party or a central agency, but the TMC's own former treasurer and a rebel MLA faction. That internal fracture is the real story. The ED's PMLA entry converts what began as an intra-party dispute into a federal enforcement action, raising the political stakes considerably. The Calcutta High Court's refusal to grant interim relief — while appointing a special officer — signals judicial caution rather than exoneration. How the court rules on the remaining 12 accounts will determine whether this becomes a template for financial pressure on regional parties or a one-off driven by TMC's unique internal collapse.
NationPress
10 Jul 2026
Frequently Asked Questions
How much money has been frozen in TMC bank accounts?
Nearly ₹1,000 crore has been frozen across 15 Trinamool Congress bank accounts in two phases. The first phase covered 3 accounts with ₹440 crore; the second phase added 12 accounts with over ₹550 crore.
Why were the TMC bank accounts frozen?
The freeze was triggered by former TMC treasurer Aroop Biswas, who wrote to banks citing fears of fund misuse, and by rebel MLAs led by expelled MLA Ritabrata Banerjee, who alleged the accounts held proceeds of corruption and extortion. The West Bengal Police then directed banks to impose debit restrictions.
What did the Calcutta High Court order regarding the frozen accounts?
The Calcutta High Court granted the Mamata Banerjee-led TMC faction conditional and limited access to the three accounts frozen in the first phase. It appointed retired Justice Subrata Talukdar as special officer to operate those accounts until 30 September, with all expenditure routed through him.
What is the Enforcement Directorate's role in the TMC bank freeze?
The ED has launched an investigation under the Prevention of Money Laundering Act (PMLA), acting on allegations that corruption and extortion proceeds were routed through the TMC accounts. ED officials conducted raids at five locations in Kolkata on Tuesday.
Who are the key figures in the TMC bank account dispute?
The key figures include former TMC treasurer and ex-minister Aroop Biswas, who first sought the freeze; expelled MLA Ritabrata Banerjee, who leads the rebel faction; and former Chief Minister Mamata Banerjee and party leader Abhishek Banerjee, whose faction challenged the restrictions in the Calcutta High Court.
