The court has also asked the Reserve Bank of India (RBI) to restrain the nominee directors of the Bangur group from participating in the affairs of the bank within 15 days. ``As the RBI itself had observed that the Bangur group shall not influence the functioning of the bank directly or indirectly and it has been admitted in the written statement that the said nominees directors of the Bangur group are still wielding influence, it shall be appropriate to direct the RBI to take immediate action,'' the court ruled on Monday.

The verdict came at a time when the Tayals and the Bangurs are engaged in a pitched battle for control of BoR. A crucial annual general meeting to elect four directors is scheduled to be held in Udaipur on September 28.

``Before the impound charge-sheet issuedto the respondents be proceeded with, it shall be necessary to issue a writ of mandamus to the CBI through the director CBI, Jaipur, to hold a thorough enquiry through a very responsible officer right from the time when the Bangur group had started purchasing shares in the bank and then controlled the bank as the managing director/directors and by nominee directors and as to how and where and in what manner the amount of the bank was siphoned to the sister concerns of the Bangur group and as to how such amount is still due and how much returned or returnable for the purpose of criminal and civil consequences,'' the court ruled.

The court has ruled that the CBI should submit the report to the court within six months. The RBI which had inspected the books of BoR last year has severely indicted the then management of BoR led by the Bangurs for fund diversion and mismanagement. The central bank later removed the Bangurs from the bank's directorship and also debarred them from holding directorship in any bankingcompany for five years. The Tayals were later brought in to run the bank.

Following Monday's court verdict, the re-election of four directors of the Bangurs at the AGM has been virtually stalled. In a bid to control the bank, both the Tayals and the Bangurs had proposed different set of nominees for re-election at the AGM. The RBI, under its powers, later earlier directed the AGM not to appoint any directors.

The Bangurs are being stoutly opposed by the Tayals who presently control the bank. The four directors retiring this month are: BP Singh, Vinay Mittal, Satyajit Mitra and V K Rungta. Currently, BoR has 15 directors on its board with the Tayals and the Bangurs having six directors each on the board.