8. CRB’s Cardboard Scam

Chain Roop Bhansali (CRB), a 1000 crore financial institution, emerged from nowhere in the mid1990s. It was not only a big company but also the most impudent one. It offered services in FC collection, mutual fund and banking etc. a firm needs to be sufficiently inspected by SEBI and RBI. To our surprise and once again because of the lame judiciary, this firm was successfully able to qualify the show of clean chit to the regulators. CRB managed well to make huge profits based on high value financing. But the company collapsed out of the blue and made its investors suffer a lot.