Ranjana Desai, J.

(1) The petitioner is a society registered under the Maharashtra Co-operative Societies Act, 1960 (for convenience, "the petitioner-society"). Respondent 1 is the Union of India. Respondent 2 is the State of Maharashtra and Respondent No.3 is the Central Bureau of Investigation, Anti Corruption Branch (for short, "the CBI"), who is currently investigating certain matters connected with the petitioner-society and its members.

(2) In this petition filed under Article 226 of the Constitution of INdia, the petitioner-society has, inter alia, prayed that the letter dated 31/1/2011 issued by CBI in respect of accounts of the petitioner-society maintained with the State Bank of INdia in Wodehouse Road Branch and Cuffe Parade Branch be quashed. By the said letter, CBI has issued a direction to the State Bank of INdia to stop operation of the said accounts of the petitioner- society.

Gist of the facts stated in the petition will have to be noted.

(a) The petitioner-society is a society registered under the Maharashtra Co- operative Societies Act, 1960. It has 102 members. The petitioner-society and its members were allotted, on occupancy basis, 6428.5 sq. meters of land owned by the Government of Maharashtra situate in the Backbay Reclamation Area in Block No.VI in Colaba, Mumbai. The petitioner- society paid a total amount of Rs. 16,33,22,292/-. It was duly granted all necessary permissions. Occupation Certificate was granted on 16/9/2010. A complaint was registered by the Ministry of Defence, Government of India with the CBI requesting the CBI to conduct enquiry about the alleged irregularities concerning the petitioner-society. Upon the complaint being received, the CBI conducted a preliminary enquiry.

(b) On 29/1/2011, the CBI registered FIR against several persons connected with the petitioner-society under Sections 120-B, 420, 468 and 471 of the Indian Penal Code, 1860 (for short, "the IPC") and under Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988 (for short, "the P.C. Act") alleging that, the accused abused their official position, manipulated and fabricated the records to achieve their objective of getting the land allotted in favour of the petitioner-society in an illegal manner. It is further alleged that various clearances from Municipal Authorities and other State Government Authorities were taken in an illegal manner. It was alleged that the accused abused their official position and obtained for themselves and for their close relations, property rights over flats in the petitioner- society at a very low cost compared to the market value.

(c) The investigation was started. The office of the petitioner-society was searched and several documents, writings, etc. were seized. Similarly, residences of the accused were searched. The CBI seized all the documents required by the petitioner- society for operating its bank accounts such as bank passbooks, cheque books, statement of bank accounts, etc. On 31/1/2010, the CBI wrote to the State Bank of India, Wodehouse Road Branch and Cuffe Parade Branch directing them to stop operation of the said bank accounts and not to allow their operation without further instructions from the CBI. The CBI did not serve any notice on the petitioner- society prior to freezing of the said accounts. The petitioner-society came to know about the said direction issued by the CBI through a letter addressed by the State Bank of India to it on 1/2/2011. Being aggrieved by this action of the CBI, the petitioner-society has approached this court.

(3) We have heard Mr. Thorat, learned senior counsel appearing for the petitioner-society and Mr. Khambatta, learned Additional Solicitor General appearing for respondents 1 and 3. We have perused the affidavit-in- reply of Mr. Ravindra Singh, Addl. Superintendent of Police, CBI, dated 15/3/2011 and affidavit-in-rejoinder and additional affidavit of Lt. (Commander) (Retd.) G.S Grewal. We have also carefully p