The court observed that it was not satisfied with the material placed by the police to justify freezing the accounts. It further directed that any two authorised signatories of the three banks shall submit cheques to the special officer whenever funds were required. The cheques shall be countersigned by the special officer before being presented to the bank concerned for encashment.

The High Court also raised concerns about the haste, with which the investigating agency initiated criminal proceedings and froze the bank accounts. It noted that the FIR was registered on June 18, and all three accounts were placed under a debit freeze the following day.

Upon examining the record, the HC observed that at this stage, it was unable to identify any material that warranted such prompt coercive measures by the investigating agency.

The Calcutta High Court also observed that rebel factions were asserting themselves as the legitimate Trinamool Congress. “The question of which faction is officially recognised as the TMC is currently pending before the Election Commission of India,” the HC noted.