It was alleged that two of Chavan's relatives were given flats in Adarsh for favours granted to the society.
CBI's decision to clear his name for lack of evidence in the probe into benami properties will come as a relief to the beleaguered leader who is contesting from Nanded Lok Sabha seat.
Among the co-conspirators were Major General (retd) T K Kaul.
The case against K L Gidwani and Lt Col Amarjit Singh, named as accused, was abated as both of them died.
CBI probed the role of some other politicians and businessman during its investigations.
The agency has already chargesheeted Chavan and 22 others in connection with the alleged irregularities committed in building the housing society.
CBI had accused Chavan of approving additional floor space index for Adarsh Society in return for two flats for his relatives.
He was also charged with illegally approving, as the then Revenue Minister, allotment of 40 per cent of the flats to civilians when the Society was allegedly meant only for Kargil war widows and defence personnel.
However, the agency has now sought to drop the name of the former Chief Minister from the charge sheet after CBI failed to secure a sanction of prosecution from Maharashtra Governor K Sankaranaryanan.
