The committee would be headed by former RBI deputy governor Vepa Kamesan. A committee has been constituted to go in to the affairs of the SFIO and see how to make it more effective, Mr Gupta added. According to him, the report is likely to be ready in three months.
The minister said the new Companies Act was also likely to be submitted. About 30 cases, including that of Daewoo Motors, Design Auto Systems and Ketan Parekh group of companies, have already been referred to the body. The body has submitted reports on eight cases.
MMK Sardana, former secretary, company affairs and B Swarup of the Settlement Commission are also in the committee, apart from representatives from CBI and the law ministry.