Bombay High Court on Wednesday refused to de-freeze two bank accounts of the Adarsh Co-operative Housing Society(ACGHS) having around Rs.1.47 cr.
The society sought these accounts to be de-freezed and the matter came up before Justice A K Menon.
Society moved HC after the same plea was rejected by the Special Central Bureau of Investigation (CBI) court in September 2015.
CBI counsel Hiten Venegavkar submitted that the money lying in the said accounts may be linked to a few Benami transactions hence the application cannot allowed.
In 2011, CBI registered a case against 14 members of Adarsh society and subsequently freezed the two accounts.
Refusing to interfere in the matter Justice Menon reasoned that once the Apex Court had allowed opening of a fresh account for the society there was no merit in the application.
HC had ordered the demolition of the 31 storey ACGHS buildin in April last year after finding that allotments were made to bureaucrats, ministers and their relatives through quid-pro-quo.