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The ED had arrested Chatterjee, who is also the Trinamool Congress secretary-general, on July 23 in connection with its investigation into alleged irregularities in the recruitment drives by the School Service Commission.
TMC party leadership had made it clear that it will not hesitate to take disciplinary action against Chatterjee if he is found guilty at the end of the investigation.
Opposition BJP went hammer and tongs over the development and demanded a reply from Chief Minister Mamata Banerjee.
Sinha said he would 'step aside' from the TMC to work for the larger national cause of opposition unity.
The Congress, in a statement, said it owes it to the people to elect a President who can apply a 'healing touch' to India's 'fractured social fabric.'
Though speculations of him joining BJP were rife when he hosted Amit Shah for dinner last month, Ganguly had dismissed news of the move then as what they were - just speculations.
Some academicians have described the move as an infringement on the autonomy of the educational institutions, while there are others who said it would help foster better coordination between varsity heads and the government.
The Union home minister has claimed that violence and graft was rampant in West Bengal under Mamata Banerjee.
The 36-year-old former Bengal captain will gear up for his 17th year in first-class cricket.
The club's journey to the ISL involved a serious intervention by West Bengal Chief Minister Mamata Banerjee.
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