Official sources said the name of four members of Sharma's team would be submitted to the Supreme Court, which will be hearing the matter on August 10.
The Supreme Court had suggested Sharma's name to head the panel to probe Sinha, who during his tenure as CBI director, was alleged to have met several coal block allocation scam accused. The apex court had strongly disapproved of it and ordred a probe to ascertain if Sinha tried to influence or scuttle investigations.
The proposed panel will look into the visitors diary reportedly maintained at Sinha's residence wherein the names of the accused and people associated with them who met the then CBI chief are claimed to have been mentioned.
The apex court had earlier found Sinha's meetings with coal scam accused in the absence of the investigating officers "inappropriate" and said further inquiry was necessary to ascertain the "fairness and impact" of his conduct on the coal scam probe.
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Sharma, who is an expert in financial fraud and terrorism-related cases, served in the CBI till he was shifted to Information Commission in November 2006.
A 1972 batch IPS officer of Rajasthan cadre, Sharma has vast experience in the CBI. He was instrumental in successful extradition of gangsters Abu Salem and Babloo Srivastava and cracking the assassination case of former Punjab Chief Minister Beant Singh.
After the retirement of Vijay Shanker, Sharma was tipped to become the CBI Director. However, a last minute change saw him being shifted to the Information Commission as his junior Ashwini Kumar was appointed chief of the premier probe agency.