- (1.) We hereby appoint a Committee consisting of Justice K.T. Thomas, Retired Judge of the Supreme Court of India; an officer nominated by the Reserve Bank of India (RBI) and an officer nominated by the Securities & Exchange Board of India (SEBI). The Committee will be headed by Justice K.T. Thomas. The officers of RBI and SEBI must be deputed full time for the purpose of functioning of this Committee, the salary and other perks which they are entitled must be continued to be paid to them by RBI and SEBI. SEBI to provide to the Committee secretarial staff and an office at Mumbai.
(2.) The Chairman of the Committee is at liberty to appoint a Chartered Accountant of repute to assist the Committee in its functioning.
(3.) The Committee shall take into its custody all assets of the Company, wherever they may be. For.the purpose of enabling the Committee to take charge of the assets all authorities including the Police, District Magistrates etc. are directed to give all necessary assistance.;