ED freezes TMC's Rs 440-cr worth bank deposits under PMLA

Business To Business, Kolkata,  08^th July, 2026:   The Enforcement Directorate (ED) on Wednesday said it has frozen three bank accounts of the Trinamool Congress (TMC), containing deposits worth approximately ₹440 crore, as part of an investigation into an alleged funds misappropriation case under the Prevention of Money Laundering Act (PMLA).
In a statement, the central agency said the action was taken under Section 17(1A) of the PMLA, which empowers an authorised ED officer to freeze assets, including bank accounts, when it is not practicable to seize the property and there is a need to prevent it from being transferred, withdrawn or otherwise dealt with during the course of the investigation.
According to the ED, the three bank accounts collectively hold deposits amounting to ₹440 crore, and the freezing orders have been issued to preserve the assets while the investigation continues.
The agency did not disclose further details regarding the alleged misappropriation or the specific transactions under scrutiny.
There was no immediate response from the Trinamool Congress on the ED's action.
The freezing of the accounts forms part of the Enforcement Directorate's ongoing investigation under the anti-money laundering law. The matter remains under investigation, and no conclusions regarding culpability have been reached at this stage.