1. Congress Treasurer Ajay Maken announces party’s and Youth Congress’ bank accounts are frozen.
2. Frozen accounts hinder the party’s financial transactions, posing significant setbacks before polls.
3. Grave concern was expressed over the inability to conduct usual financial activities amid frozen accounts.
New Delhi, Feb 16: Congress Treasurer Ajay Maken revealed on Friday that the party’s bank accounts, along with those of the Youth Congress, have been frozen, signaling a severe setback ahead of the upcoming polls.
Frozen Accounts Cause Disruption
Addressing the media, Maken expressed grave concern over the frozen accounts, stating that the party is currently unable to conduct its usual financial transactions. This freeze not only impacts the ongoing Nyay Yatra but also impedes all other political activities.
Financial Implications
Maken disclosed that banks are refusing to honor the cheques issued by Congress, and upon investigation, it was discovered that the accounts of both the Congress party and the Youth Congress have been seized.
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Furthermore, the Income Tax Department has demanded a staggering Rs 210 crore in recovery from both entities. This freeze extends to the crowdfunding money held in their accounts, dealing a significant blow to their financial resources.
Democracy at Stake
The timing of this development, just two weeks before the elections, is particularly concerning. Maken emphasized that freezing the accounts of the opposition parties tantamounts to undermining democracy itself.
Legal Context
The freeze comes in the wake of the Supreme Court’s decision to declare the Centre’s electoral bonds scheme unconstitutional. The court’s ruling mandates the disclosure of bond donors, amounts, and recipients by March 13, shedding light on the sources of political funding.
Implications for Lok Sabha Polls
With the elections looming ahead, the freeze on Congress’ accounts poses serious challenges for the party’s campaign and organizational activities. It remains to be seen how they will navigate these financial constraints in the lead-up to the polls.
