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Thursday, May 22 1997

RBI files plea to liquidate CRB

ENS ECONOMIC BUREAU

MUMBAI, May 21: Various investigating and regulatory authorities have tightened their grip over the CRB group which defrauded investors and public sector banks to the tune of Rs 1,000 crore. While the RBI has taken steps to liquidate the company, CBI is seeking Interpol help in nabbing the absconding chairman of the group C R Bhansali and to probe the role of various senior bankers in the fraud. The Securities and Exchange Board of India (SEBI) has frozen all the shares held by the trustees of CRB Mutual Fund. The aggrieved investors are also activated by various consumer groups in the city.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.

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