CBI court allows Adarsh society to withdraw money from its bank accounts
A special CBI court has allowed the Adarsh Housing Society to withdraw Rs 1 crore from its bank accounts after accepting as security the plot of the 31-storey building here that is caught in a dispute over flat allotments and environmental clearance.
Special CBI Judge P K Sharma ordered for defreezing the society’s three bank accounts earlier this month, so that the applicant (the society) can use the money for maintenance of the building and the litigation cost.
The CBI had freezed these bank accounts in January 2011 after registering a case against 14 accused, including several members of the society.
The plush 31-storey building, located at Colaba in south Mumbai, is embroiled in a controversy since 2011 with the Centre ordering for its demolition for violating environmental norms and the Defence Ministry claiming ownership of the land where the building stands.