Scam-tainted Adarsh Cooperative Housing Society of Mumbai will now be able to open a fresh account in a nationalised bank after the CBI gave the green signal in the Supreme Court on Friday.
In an affidavit filed before a Bench led by Justice H L Dattu,the agency said the society can open bank transactions by starting a new account provided the CBI is allowed to monitor it.
The CBI has no objection to the opening of a fresh bank account and operation thereof by the society which shall furnish a monthly statement of all the transactions in this account,including credits and debits along with supporting documents,whenever called upon by the CBI, the CBI affidavit said.
The agency,however,made it clear that opening this window for the society to conduct financial transactions does not mean any entitlement for either the society or its members to claim regularisation or sanction of the building.
The society,accounts of which were frozen by the CBI in January 2011,had approached the SC for permission to raise money from its members.