NEW DELHI, June 15: The Delhi High Court will hear tomorrow an application for appointing a person nominated by the Reserve Bank of India (RBI) as an agent to prepare a complete inventory of the controversial CRB Capital Markets Limited (CRB-CML).

The application, was admitted in the High Court on Friday and is likely to come up for hearing before the single-judge vacation bench of Justice S N Kapoor. The agent thus appointed would prepare inventories after scrutinising the company's books of accounts and past operations.

The RBI, the petitioner in the case, had submitted that the agent will have access to all properties taken into possession by the provisional liquidator appointed by the court on May 22. The RBI has urged the court to pass an order authorising the agent to appoint professionals like chartered accountants, company secretaries and computer software experts for the job. The application, filed through RBI counsel H S Parihar, urged that the agent should function independently and be jointly responsible to the court along with official liquidator Shri Ram. The court on Saturday restrained the company and its 40 associates companies from selling, transferring or parting with their properties in its efforts to recover the money of the investors. It directed all banks and other financial institutions having any amount or any deposit lying in the name of CRB-CML and the 40 companies of this group to be frozen till June 18.

The RBI had on May 21 filed a petition for winding up of the CRB-CML, alongwith a company application for appointment of a provisional liquidator of the company and for issuing injunction.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.