MUMBAI, Jan. 1 -- The Bombay High Court has struck down a communication issued by the Economic Offences Wing (EOW) of the Mumbai police, that had stalled the sale of a prime plot measuring 38,880 sq m in Mazgaon. The court has also allowed the firm which had purchased the plot in auction to go ahead and register the sale deed. The EOW had instructed the sub-registrar of assurances not to register the sale deed of the property, as Radius Sumer Developers Pvt Ltd - the developer of the project, Harbour Heights - had allegedly defrauded at least 90 flat buyers to the tune of Rs.210 crore, and EOW's proposal to attach the property under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999, was pending. The high court, however, held that the EOW could not have prevented registration of the sale deed of the property during pendency of such a proposal. The division bench of Justice RI Chagla and Justice Farhan Dubhash passed the order on a petition filed by CFM Asset Reconstruction Pvt Ltd. When the developer defaulted on repayment in March 2020, the lenders (Punjab National Bank Housing Finance Limited and Standard Chartered Bank) initiated proceedings for recovery of the outstanding loan amount. Later, CFM Asset Reconstruction stepped into the shoes of the lenders. When the property was put up for public auction, Shree Naman Estate Project Pvt Ltd submitted an offer of Rs.430 crore; it was declared the successful bidder on August 19, 2025. The next day, the property firm deposited Rs.107.50 crore, 25% of the purchase consideration, with CFM Asset Reconstruction. However, when Shree Naman sought to register the sale deed, they found that the EOW had barred creation of any third-party rights in the property without an order from the MPID Court....