He was sworn in as a Cabinet Minister under Chief Minister Mamata Banerjee on 20 May 2011 and allotted the portfolios of Commerce and Industry, Public Enterprises, Information Technology and Electronics and Parliamentary affairs.

[12] After the Assembly election 2016, he became the Minister-in-Charge of Higher Education and School Education Department, West Bengal Government[13][14] and the Ministry of Commerce and Industry, Public Enterprises, Information Technology and Electronics replaced by Amit Mitra.

On 23 July 2022, Chatterjee was arrested from his residence by the Enforcement Directorate in connection with the alleged State School Service Commission (SSC) recruitment scam cases along with his aide actress Arpita Mukherjee.

[15] Later, he was shifted to AIIMS Bhubaneswar where doctors said that he suffers from chronic diseases but does not need immediate hospitalization.

[17] On 28 July 2022, he was removed as the Minister of Commerce and Industry, Information Technology and Electronics and Parliamentary Affairs[18][19] and suspended from the Trinamool Congress.