The bench of Justices MM Sundresh and PB Varale was hearing a plea by the Mamata Banerjee-led faction of the TMC challenging the Calcutta High Court order. The High Court had on July 20 refused to allow the TMC to operate three bank accounts frozen by the ED. The party had approached the High Court challenging the probe agency’s action under the Prevention of Money Laundering Act. The case pertains to alleged financial irregularities, unlawful collection of money and routing of suspected funds through certain bank accounts of the TMC. On July 8, the ED said that it had frozen three bank accounts of the TMC, holding deposits worth Rs 440 crore.