SC nudges ED to consider releasing funds from frozen TMC accounts

The Supreme Court on Monday asked the Enforcement Directorate whether a limited amount of funds from the Trinamool Congress’ frozen bank accounts could be released to a court-appointed administrator for the party to meet its daily expenses, Bar and Bench reported.

The bench of Justices MM Sundresh and PB Varale was hearing a plea by the Mamata Banerjee-led faction of the TMC challenging the Calcutta High Court order.

The High Court had on July 20 refused to allow the TMC to operate three bank accounts frozen by the ED. The party had approached the High Court challenging the probe agency’s action under the Prevention of Money Laundering Act.