Amid an intensifying internal split, Trinamool Congress leader Aroop Biswas has written to HDFC Bank seeking a freeze on the party's principal accounts. The move targets a major fund repository, escalating a high-stakes battle between Mamata Banerjee’s central core and a powerful rebel faction over control of the party's assets.
KOLKATA, INDIA — The escalating internal crisis within the All India Trinamool Congress (AITC) took a major financial turn as senior political leader Aroop Biswas formally petitioned HDFC Bank to freeze the party’s principal accounts. In a two-page directive delivered to a South Kolkata branch, Biswas requested an immediate status quo on debit transactions, citing severe leadership uncertainty following a multi-front rebellion of legislative and parliamentary members. The move marks a dramatic escalation in the post-election power struggle, effectively putting a question mark over who controls the party's ₹1,400-crore structural assets as rival factions stake claims to being the "real" Trinamool.
Leadership Rift Moves From Assembly to Bank Vaults
The ongoing political split within the Trinamool Congress, which deepened following the 2026 assembly elections, has shifted from legislative chambers into a sensitive battle for organizational resources. The crisis escalated significantly after a faction of 58 dissident MLAs broke away from the central leadership, gaining formal recognition from West Bengal Assembly Speaker Rathindranath Bose as the dominant legislative group. Concurrently, a parallel rebellion emerged in Parliament, where 20 out of 28 Lok Sabha MPs separated from the party nucleus to seek an alliance with the Nationalist Citizens Party of India (NCPI).
With two separate factions claiming administrative legitimacy, Biswas moved to isolate the central party funds. In his official presentation to the bank management, Biswas described himself as the authorized national treasurer, asserting that immediate intervention was necessary to prevent unauthorized withdrawals or transfers by competing organizational stakeholders.
Escalating Dispute Over Financial Custodianship
According to recent audited statements submitted before the Election Commission of India (ECI), the specific targeted account holds an estimated liquid balance of ₹675 crore, while party insider reports place the overall value of total organizational funds across broader operational networks at close to ₹1,400 crore.
The political camp loyal to former Chief Minister Mamata Banerjee has strongly rejected Biswas's authority to make the demand. The central party desk confirmed that following an organizational shuffle executed on June 5, 2026, Biswas was formally removed from his post and replaced by former Rajya Sabha Member of Parliament Subhasish Chakraborty.
The central leadership has alleged a wider institutional conspiracy involving external political managers designed to cause financial paralysis to the core administration. Conversely, representatives aligned with the breakaway faction, led by Ritabrata Banerjee, defended the request as a transparent safety measure to ensure that public contributions or party finances are not misallocated while the leadership structure remains sub judice.
Technical Vulnerabilities of Pre-Signed Cheques
A key concern raised in Biswas's letter involves the potential misuse of operational instruments that were authorized before the formal split took place. The communication highlights a common organizational practice where blank or pre-approved cheques were signed by the treasurer to handle routine administrative expenses.
With multiple regional desks now split between different loyalties, Biswas expressed concerns that these pre-signed documents could be presented for encashment by unauthorized individuals, presenting a substantial financial risk to the organization. Reports indicate that the banking institution has placed a temporary debit freeze on an estimated ₹535 crore inside the primary repository to protect against conflicting operational claims while checking regulatory mandates.
Official Sources Section
The administrative parameters, legislative statistics, and financial tracking details cited in this report are based on official documentation, including:
The formal letter delivered to the central branch manager of HDFC Bank in Kolkata.
Compliance and asset declarations archived with the Election Commission of India.
Press briefings issued by the Legislative Secretariat of the West Bengal Assembly.
Quote Section
"According to officials from the central Trinamool Congress leadership, the party's legal position remains clear. The administrative core stated that since an organizational overhaul was finalized on June 5, only the newly appointed treasurer holds the legal authority to manage banking operations, meaning any external requests to freeze funds interfere with standard political functioning."
Why It Matters
The dispute over Trinamool's funds sets an important precedent for how political assets are managed during internal party splits in India. For banking institutions, it highlights the complex compliance challenges involved in verifying authorization when a registered political party separates into competing factions. For everyday citizens and party workers, the freeze directly affects localized operational capabilities, impacting everything from daily field office upkeep to funding upcoming local campaign cycles.
Key Facts at a Glance
Account Freeze Request: Former minister Aroop Biswas has requested a status quo freeze on principal Trinamool Congress bank accounts.
Asset Scale: The dispute impacts a primary account holding around ₹675 crore, within a larger estimated party fund corpus of ₹1,400 crore.
Competing Treasurers: The Mamata Banerjee camp names Subhasish Chakraborty as the official treasurer since June 5, a change disputed by the rebel faction.
Legislative Splinter: The financial freeze follows a major political split involving 58 state MLAs and 20 Lok Sabha MPs.
FAQ Section
Why did Aroop Biswas ask the bank to freeze the accounts?
Biswas stated that because rival factions are claiming to be the legitimate leaders of the party, a freeze is necessary to prevent unauthorized individuals from misusing pre-signed cheques or withdrawing funds.
Is Aroop Biswas still the official treasurer of the party?
The central leadership under Mamata Banerjee states that Biswas was officially replaced by Subhasish Chakraborty on June 5, 2026. However, the breakaway rebel camp continues to recognize Biswas's administrative authority.
What happens to the party's funds during a split like this?
Banks typically freeze or restrict debit transactions on disputed corporate or political accounts until the competing factions provide a clear legal resolution, a court order, or an official directive from a regulatory body like the Election Commission.
Source: Election Commission of India, HDFC Bank Institutional Portal.
