Bengaluru: Former railway minister C K Jaffer Sharief who has challenged the merger of Amanath Bank with Canara Bank, would deposit a sum of Rs. 124 crore within a week.

Sharief also asked for the appointment of an ad hoc committee to overlook the process. His counsel furnished a list of names, which included Jaffer Sharief, Iqbal Huttur, Congress leader C M Ibrahim and JD(S) MLA B Z Zameer Ahmed Khan, who would be the members of the committee. The court however, refused to appoint the committee with the members suggested by Sharief.

It said that the committee cannot be constituted as per the wish of the petitioners and said the Court will decide who will be in the ad-hoc committee.

Hearing the petition, Justice Ram Mohan Reddy issued directions to deposit the money in the Amanath Cooperative Bank within a week after calculating the shortfall of money. During the earlier hearing, the Court had directed the petitioners to deposit over Rs 200 crore, which has been now reduced to Rs. 124 crore.

Meanwhile, the court has asked all the petitioners to appear before it on November 27 with proper identity proofs.