Rediff On The Net Business News: CBI seeks public aid to nab CRB chief


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May 26, 1997

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CBI seeks public aid to nab CRB chief

The Central Bureau of Investigation is seeking public help to track down CRB chairman C R Bhansali who is reportedly hiding somewhere near Delhi.

CBI sources said it would screen photographs of Bhansali and his wife on television and publish it in other media, seeking information regarding their whereabouts from the public.

Bhansali is one person who can explain his group's transactions with the State Bank of India which may be worth more than the Rs 580 million estimated at present, sources said.

A Bharatiya Janata Party delegation, headed by general secretary Pramod Mahajan, met Reserve Bank of India Governor Dr C Rangarajan to submit a memorandum demanding instant action against those involve in the CRB scam. The BJP's Maharashtra unit claimed the RBI, the SBI, IDBI and other government institutions are all directly or indirectly responsible for this financial mess.

In a statement, the RBI asked the CRB investors, individual creditors, depositors and shareholders to file their claims, along with proof before the Delhi high court's official liquidator to help him proceed in the case as per the law.

The RBI made the announcement following a strong plea made by a group of CRB investors led by BJP legislator Kirit Somaiya to Deputy Governor S P Talwar and requested him to take some measures to protect the interests of small depositors.

The RBI has, under the recently amended RBI Act, 1997, already filed a winding up petition against CRB Capital Markets Limited, after being satisfied that the continuance of CRB Capital Markets was not in the interest of the public and depositors.

Acting on an first information report filed by the same CRB investors group on Friday, the city police on Saturday also raided some offices and establishments having business links with the CRB group.

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