India's Enforcement Directorate (ED) has frozen bank accounts holding ₹440 crore belonging to the Trinamool Congress (TMC), marking a significant escalation in the agency's money laundering investigation into the ruling West Bengal party.
The seizure follows a case registered by the Kolkata Police, which previously suspended banking operations on three TMC accounts.
The police action was triggered by complaints filed by rebel members of the party's legislative assembly, alleging misuse of political funding.
This development intensifies the financial scrutiny on the TMC, which has been under investigation for alleged fund transfers worth ₹150 crore.
The ED had earlier conducted searches at five locations linked to the party as part of the probe under the Prevention of Money Laundering Act (PMLA).
The freeze of ₹440 crore represents a substantial portion of the party's liquid assets, potentially impacting its operational capacity and political strategy ahead of upcoming elections.