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The order dated December 9 said the committee will make recommendations to prevent the recurrence of such an accident in the area and may seek suggestions from resident associations and traders associations in this regard.
The panel has been asked to submit a report within 30 days of issuance of the order.
The committee will be chaired by the managing director, Shahjahanabad Redevelopment Corporation. Other members in the panel include the joint commissioner of police (central range), district magistrate (central), director of fire services and DIG, National Disaster Response Force.
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The fire broke out in a shop in Mahalaxmi Market around 9 pm on November 24 and soon spread to the adjacent shops of electrical appliances.
Five buildings were affected by the massive fire and three of them had collapsed. No loss of life or injuries was reported.