HC order on CRB scam

MUMBAI, December 4: The Bombay High Court today allowed the Investors Grievances Forum to make the 133-odd sister concerns of the CRB Capital Markets as respondents in their petition, which seeks to probe the CRB scam.

Chief Justice M B Shah and A B Palkar ordered that a copy of the list of these companies be made available to the petitioner. The IGF president Kirit Somaiya submitted that the 133 group companies had siphoned off a whopping Rs 550 crore through the parent company. The forum today prayed that accounts of these companies be also frozen. However, the court did not allow this. The Chief Justice said that since the Delhi High Court is already seized of the matter, fresh orders are not needed. The judges ordered the official liquidator for the CRB group to keep the court informed about the developments in the Delhi High Court.

Gajre’s dismissal

* The Bombay High Court on Wednesday set aside the November 11 order of State Co-operation Minister Dr Jaiprakash Mundada removing Ashok Gajre from the board of directors of Mumbai District Cooperative Bank due to his alleged involvement in the cobblers scam.