Wednesday, March 16, 2011

HC refuses to defreeze Adarsh society accounts

Mumbai: The Bombay HC on Wednesday observed that it did not want to defreeze, at this stage, the bank accounts of the tainted Adarsh Cooperative Housing Society in South Mumbai.

A bench of Justice Ranjana Desai and Justice Rajesh Ketkar said the society could make an application within a week to seek the court's approval to pay statutory dues to various utilities and authorities. The society had said it owes Rs 32 lakh to authorities which it could not pay since the CBI had frozen its accounts at SBI. The HC said, “At this stage we cannot ask CBI to defreeze the whole account. We can, however, ask the CBI to consider giving some concession regarding the society's pending dues.”

The society has close to Rs 100 crore in bank. The 31-storey housing society under the CBI scanner claimed the freezing of accounts deprived it of its fundamental right to defend itself in pending litigation and pay its lawyers their fee of Rs 70 lakh so far.

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