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NON-REPORTABLE

IN THE SUPREME COURT OF INDIA CRIMINAL APPELLATE JURISDICTION

CRIMINAL APPEAL  NO.  952 OF 2018 [@ SPECIAL LEAVE PETITION (CRL.) NO. 2631 OF 2018]

ADARSH COOPERATIVE HOUSING SOCIETY LTD.    Appellant(s)

                               VERSUS

CENTRAL BUREAU OF INVESTIGATION            Respondent(s)

J U D G M E N T

KURIAN, J.

1. Leave granted.

2. This Court permitted the appellant to withdraw

the  amounts  claimed  by  the  banks  on  furnishing

security of immovable property, as per order dated

05.01.2018 in Criminal Appeal No. 19 of 2018.

3. When  the  appellant  offered  security  of  the

immovable  property,  wherein  the  housing  complex  is

situated, that was turned down as per the impugned

order  passed  by  the  CBI  Special  Judge,  Greater

Mumbai,  holding  that  the  disputed  structure  is

standing on the land, which is being offered as a

security and being the subject matter of the case,

the  land  cannot  be  accepted  as  a  security.   Thus

aggrieved, the appellant is before this Court.

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4. We  have  heard  Mr.  Vikramjit  Banerjee,  learned

Additional Solicitor General appearing for the first

respondent and Mr. Nishant R. Katneshwarkar, learned

counsel  appearing  for  the  State  of  Maharashtra.

Though the application is seriously opposed by both

the respondents, the fact remains that the land was

allotted to the appellant by the State of Maharashtra

on  payment  of  Rs.  12.61  Crores,  as  per  Allotment

Letter  dated  09.07.2004.   The  learned  counsel  for

appellant submits that the amounts which are frozen,

are required for litigation expenses and, therefore,

denial of the same would amount to denial of access

to justice.

5. In the above circumstances,  we do not propose to

go into the various contentions taken by the State

since we are only concerned with the release of the

amounts  on  offering  the  land  as  a  security.

Therefore,  leaving  all  the  contentions  open,  and

without prejudice to the contentions taken by the CBI

as well as by the State, the impugned order dated

01.03.2018  passed by  the CBI  Special Judge  is set

aside.  The Special Judge, CBI is directed to accept

the security of the land, as offered by the appellant

and release the amounts.

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6. In view of the above, the appeal is disposed of.

.......................J.               [ KURIAN JOSEPH ]  

.......................J.               [ SANJAY KISHAN KAUL ]  

New Delhi; July 31, 2018.