Here are the 10 latest developments in this story:
The panel found 25 of the society's 102 members ineligible and 22 cases of 'benami' purchase of flats.
"Adarsh is a saga of ideal co-operation but it is a shameless tale of blatant violations of statutory provisions, rule and regulations," the report said. It expressed "deep regret" over the "greed, nepotism and favouritism" involved in the scam.
The report said Adarsh society enjoyed political patronage of former Chief Ministers, Vilasrao Deshmukh, Sushil Kumar Shinde and Ashok Chavan, former Revenue Minister Shivajirao Nilangekar Patil, former Ministers for Urban Development Sunil Tatkare and Rajesh Tope.
The report said Mr Chavan and other bureaucrats gave permissions and clearances as a quid pro quo. It also said that Mr Shinde (now union Home Minister) showed "undue haste" and overlooked objections raised by the Finance Department with regards to the allotment of land for the society.
Those found ineligible for ownership of flats included former Maharashtra Assembly speaker Babasaheb Kupekar of NCP, former Shiv Sena MP Suresh Prabhu and Indian diplomat Devyani Khobragade, who was arrested in the US for alleged visa fraud. (Read)
Ashok Chavan was the only Chief Minister charge-sheeted in the scam by the CBI but Governor K Sankaranarayanan had refused sanction to the investigative agency to prosecute him on Thursday. Mr Chavan had to resign as CM in 2010, after the scam surfaced.
The CBI had charged Mr Chavan and 12 others for criminal conspiracy, cheating and criminal misconduct under Indian Penal Code and also under Prevention of Corruption Act. It had alleged in its charge sheet that Mr Chavan had increased the floor space index of the society in return for flats for his relatives. Mr Chavan had also allegedly asked the housing society to take 40 per cent members from civilians, when it was originally meant only for war veterans.
Mr Chavan's mother-in-law Bhagvati Sharma, sister-in-law Seema Sharma and father-in-law's brother Madanlal Sharma have flats in the society. All of them have been held ineligible by the judicial panel to own flats in the society.
The judicial panel, however, acknowledged the state government's ownership of the land and said it did not belong to Ministry of Defence, defence personnel nor was it reserved for Kargil martyrs or war veterans.
Chief Minister Prithviraj Chavan today said the decision on rejection of the findings of the inquiry commission was taken by the Cabinet "in the interest of the people". He, however, refused to elaborate on how the Cabinet's decision was in larger public interest.