Justice D D Sinha and Justice Vijaya Kapse-Tahilramani also asked Reserve Bank of India to make its stand clear on September 26, the next date of hearing.
The 39 benami properties valued at Rs 60 crore have already been attached. However, the court ordered those persons holding such properties as benami on behalf of the owners not to dispose them or sell them or create third party rights until the case is finally disposed of.
RBI had suggested appointment of a liquidator but the petitioners Naren Jadhav and others have opposed the move saying the bank should be revived instead so that the interests of the investors are protected.
It was argued that most of the investors were those who had invested less than Rs one lakh individually and would stand to lose if the bank was allowed to go under liquidation.
The petitioners have instead suggested that steps be taken to help the bank in meeting its obligations towards the investors and protecting the funds.
The petitioners have alleged Rs 600 crore had been siphoned off by the bank's directors and this money be recovered from them.
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