SC allows society to open bank account

The scam-tainted Adarsh Cooperative Housing Society of Mumbai was on Friday allowed by the Supreme Court (SC) to open a bank account in a nationalised bank, so that it could raise money for its day-to-day functioning.

The scam-tainted Adarsh Cooperative Housing Society of Mumbai was on Friday allowed by the Supreme Court (SC) to open a bank account in a nationalised bank, so that it could raise money for its day-to-day functioning.

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A bench comprising justices H L Dattu and C K Prasad gave conditional permission to the society and directed it to submit a monthly statement of the accounts to the Central Bureau of Investigation (CBI.)

After the society filed an affidavit stating that it would comply with the condition of submitting the monthly statement of accounts to CBI, the order was passed.

However, the bench did not pass any order on the plea of the society seeking a direction to CBI to defreeze its two banks accounts.

The accounts of the Society were freezed by CBI in January this year after registering a case against it and many of its members, for allegedly flouting norms.

The society approached the apex court after the Bombay high court had, on July 27, dismissed its plea to defreeze its bank accounts.