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Adarsh society bank accounts will remain frozen: High court

The society sought permission to defreeze its two accounts in State Bank of India in order to bear the legal expanses and daily expenditure.

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The Bombay High Court Wednesday dismissed a petition filed by the controversial Adarsh Housing Society seeking to defreeze its bank accounts, saying this will not interfere at this stage of investigations by CBI.

In January, CBI had frozen two bank accounts of the society after registering a case against 14 accused including several members of the society for alleged flouting of norms.

The society moved the court seeking defreezing of its accounts with the State Bank of India, Cuffe Parade and Wodehouse Road, having deposits of Rs2 crore, to bear legal expenses and day-to-day expenditure of the Society.

"We are rejecting the petition as we do not find any substance," justices Ranjana Desai and RV More remarked.

"In our opinion, the action of investigating agency in seizing the bank accounts of the society is justified. The money lying in the said accounts cannot be allowed to be dissipated or depleted as the said amount would have great relevance at the conclusion of the trial in case the trial court decides to impose the sentence of fine," the bench said.

Meanwhile, the same bench, while hearing a PIL filed by social worker Pravin Wategaonkar seeking to invoke Prevention of Money Laundering Act (PMLA) in Adarsh Society case, directed CBI to file a fresh status report by August 2.

Additional Solicitor General Darius Khambatta, appearing for CBI said, "Investigations under the provisions of PMLA has started. The agency, before questioning the main accused in the scam, wants to record statement of witnesses."

Asking CBI not to leave any loose end in the probe, Justice Desai remarked, "There are some vital and important aspects which we are concerned about."

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