Sunil Karve, founder trustee and vice chairman of Bhujbal's Mumbai Educational Trust (MET), had alleged that the minister and his family members had embezzled the trust funds and property for their personal benefit.
"Over Rs 195 crore have been embezzled already. The minister is from the ruling party and the home department is under the party's control.
Five complaints have been submitted to the Economic Offences Wing of the city police but no action has been taken yet," Karve's counsels Rajendra Shirodkar, Rizwan Merchant and Sayaji Nangre argued.
The counsels further alleged that all evidences are being tampered with and hence an independent agency like CBI should be handed over the probe.
A division bench of justices V M Kanade and P D Kode directed prosecutor Purnima Kantharia to take instructions from the police and posted the matter for hearing on June 12.
Karve, in his petition, stated that the "possibility of bias in investigations can not be ruled out" since Bhujbal is a cabinet minister, his son Pankaj an MLA and nephew Sameer an MP -- all belonging to the Nationalist Congress Party -- which is a ruling coalition partner in Maharashtra and controls the home ministry.
According to Karve, since 2005, Bhujbal and his family members "dishonestly" occupied the entire tenth floor of the city-based Trust building. PTI SP GK