TMC's ₹440cr bank accounts frozen amid internal power struggle
What's the story
Three bank accounts of the Trinamool Congress (TMC) have been frozen after complaints from rebel party MLAs. According to India Today, the accounts, which hold around ₹440 crore, are maintained with a private sector bank and have been placed under a "debit freeze." This means no withdrawals or outward transactions can be made, but credits may continue to come in.
Investigation initiated
MLAs aligned with LoP Ritabrata Banerjee filed complaints
The action comes after 10 MLAs aligned with Leader of Opposition Ritabrata Banerjee filed complaints with the cyber crime police station under Bidhannagar Police Commissionerate. They sought registration of an FIR and a detailed investigation into the accounts. The legislators questioned how the money had accumulated and asked investigators to determine whether it originated from legitimate sources or was linked to alleged unlawful activities.
Party conflict
Freeze on accounts comes amid internal power struggle within TMC
The freeze on the accounts comes amid an internal power struggle within the TMC. The party is divided between camps led by former minister Aroop Biswas and Leader of Opposition Ritabrata Banerjee over control of its organizational and financial setup after a recent Assembly election defeat. Days before the police action, Biswas had written to the bank seeking protection of the accounts and suspension of transactions until leadership disputes are resolved.
Authority questioned
Mamata loyalist MLA challenges Biswas's authority
Amid the ongoing dispute, Mamata loyalist MLA Kunal Ghosh has challenged Biswas's authority to speak on financial matters for the party. Ghosh clarified that Subhasish Chakraborty is currently discharging responsibilities as treasurer after an executive committee meeting on June 5. The police action comes amid a wider political and organizational confrontation within the TMC over its finances and structure.